I will rephrase my criticisms of a demonstrated pointless share consolidation.
It appears to be a simple share consolidation, so no share/valuation dilution effects, i.e. 15 times less shares (and outstanding awards and options adjusted accordingly) for a stock likely trading 15 times the price when complete (for the same net market capital given no material changes to the company or accounts), but why?
What an utter and unnecessary waste of time and resources.
Executive time and resources than in my opinion should be spent getting the Innoventure and CellHeal deals done and other business or capital/balance sheet improvement ventures. Not a pointless change of shares on issue (it has no bearing on the business value or capital available) that will cost money and time to effect.
This often touted mercurial CEO, practicing one of the lamest and unimaginative slight of hands in the executive handbook and the given clear oversight of the Board backing (this would be approved by themselves), puts questions against the competency/usefulness of the Board, the elected stewards of shareholder capital.
This stuff all takes staff hours and money to administer, for what gain? There is no material value change to the company's business or balance sheet. This is is the exact reversal of share splits often practiced by US executives to hoodwink US retail investors by raising commonly reported price to share earnings.
OSX Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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