Ann: Half Yearly Report, page-14

wow. no need to get so defensive

I'm not advocating a consolidation by any means and see no reason for having one given our position with Jupiter about to explode

re small shareholdings and bbf I agree with you but it's not really connected with consolidation except that if there were to be one it's likely that at the same time small shareholdings (including those held by bbf) would be cancelled and paid out

I think that the rationale for a consolidation is when the share price gets so low that a one pip movement in the sp is equivalent to a large percentage increase or decrease in sp. For example if the sp is 0.02, then an increase to 0.03 represents a 50% increase in sp and market cap. that is bound to decrease liquidity in the stock.

companies with share prices as low as say 0.02 are probably close to their last legs anyway and what a consolidation does in those circumstances just increases liquidity and allows disenchanted shareholders to cash out resulting in a further reduction in their market cap

we are not close to this - at a 2cents sp a one pip change to 2.1 only increases market cap by 5% so there is no liquidity issue anyway.

if however for whatever reason there were to be a consolidation then in our circumstances why on earth would it negatively impact on our market cap. that is the bit that I can't understand - as I said no liquidity issues, current shareholders who want to get out can do so easily at present