Ann: Notice of General Meeting/Proxy Form , page-16

Yep,

Consolidation will just be based on the ratio of 20:1, so post-consolidation you will have 1/20th the amount of shares @ 20 times the SP. Example,

Pre: 1,000,000 FPO shares @ 0.002
Post: 50,000 FPO shares @ 0.04

At the moment, last day for pre-consolidated trading is set as 6th of August. So, trading of post-consolidated shares (deferred) on the 7th August will be at 20 times whatever the SP was at close of trade on the 6th.

On paper, 84 million FPO's @ 4c looks much better than 1.6 billion @ 0.2c.

As already stated, the problem for shareholders is the potential for the SP to plummet further south from the post 4c.

Don't mean to state the obvious to some, just posting for those with less of an understanding of the consolidation process. Hope it helps....

At this stage, it's not the consolidation that bothers me, it's resolutions 2 through 5. Reward for lack of performance just doesn't sit right with me....

Gaspew ;)