If I had sufficient funds to buy 1% of Imugene I would own 1% whether I get one share or 40 million shares.
According to the ASX 20 minute delay the current market cap is $411.5 million. If the market cap increases to 1 billion dollars I will still hold 1% of Imugene whether that 1% entitled me to one share or 40 million shares when I bought in. My pay out in a takeover would be 1% of 1 billion dollars or 100 billion dollars no more no less.
Shares on issue is a complete furphy the only downside is it costs a company more to maintain a large share register with thousands of shareholders than it does one with a hundred shareholders.
In a takeover the act of taking over the company removes all the shareholders so it means nothing as you said whether the company has many or just a handful of shareholders.
Add to this that the person some love to hate has consistently said that the Board has discussed the question and sees no reason to consider a consolidation recognising that it has its downside this will remain a non issue not even really worth discussion until the Board decides otherwise.
The sensible time to discuss this would be when the share price is flying and a transfer to the Nasdaq is on foot.
My opinion only DYOR
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