The purpose of this is to have less shares issued on market, and a higher Shareprice that will again start to fall. Big dilution for Shareholders.
In due course they will issue more Cap Raises to raise their cash, and again dilute Shareholders further. The number of shares on issue will then grow again, and they will at some stage do another consolidation.
Rinse and repeat. Always further dilution.
Look at the history of this Company over the past 30 years. Cap raisings and consolidations. Never paid a dividend.
Huuuuge losses by Shareholders, but oh... Management have always been well rewarded.
Ann: Consolidation/Split - EEG, page-5
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