Ann: Hillgrove to Undertake Capital Management Initiatives, page-17

So I've been told - the company is well aware of the history of share consolidations and so has timed it to coincide with the next quarterly which apparently will be positive, with the aim of being the exception (along with BSL) rather than the rule (OZL).

I think the company is paying off $7m of debt per quarter and has roughly $21m left. Just one quarter's worth of debt repayment returned to share holders = a yield of 7.8% fully franked!!

If the quarterly was any good, maybe they're a little further down that path. Find out soon....