Not if they put a deal in first.
If and when they finally deal, the consolidation will be necessary to get it out of penny dreadful territory. I’d say minimum 5/1 but possibly 10/1 to get it in around 300m shares
They won’t be taken seriously if they don’t do it as the register is too big.
Now is the time to hit a deal, straight after the raise is done. The underwriter will be expecting it, as would RM capital
I might just punt a couple K!
Ann: Appendix 3B, page-157
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