The 1:50 consolidation might improve the liquidity of the shares...

The 1:50 consolidation might improve the liquidity of the shares though ?

Current one pip movement 1.2c to 1.3c = 8%, whereas post 1:50 consolidation that would equate to 60c to 60.5c which is just 1.7%.

ASX ANNOUNCEMENT
16 October 2020
OTTO ENERGY PROPOSED SHARE CONSOLIDATION & MINIMUM HOLDING SHARE BUY-BACK
Otto Energy Limited (ASX:OEL) (“Otto” or the “Company”) is pleased to announce that it intends to
seek approval for a 1 for 50 consolidation of the capital of the Company (“Consolidation”) at the
Company's annual general meeting to be held on 19 November 2020.
The Consolidation applies equally to all shareholders and as such, individual shareholdings will be
reduced in the same ratio as the total number of shares (subject to rounding). Accordingly, the
Consolidation will have no effect on the percentage interest in the Company of each shareholder.
The proposed consolidation will reduce the number of Otto shares on issue from approximately 4.8
billion to approximately 96 million; a more appropriate number for an ASX-listed oil and gas producer.
This is considered to be an important step for the Company, given it is expected to reduce the high
levels of volatility currently experienced in the Otto share price

ASX ANNOUNCEMENT
18 November 2020
ANNUAL GENERAL MEETING – WITHDRAWAL OF RESOLUTION 6
Otto Energy Limited (ASX: OEL) (Otto or the Company) advises that it has withdrawn Resolution 6
from consideration at its upcoming Annual General Meeting (AGM).
Resolution 6 contemplated a consolidation of Otto’s share capital on the terms outlined in the
Notice of Meeting. In deciding to withdraw the resolution, the Otto Board has taken into account
the current global environment with respect to COVID-19 as well as continued subdued energy
prices.
The Otto Board believes that it is in the best interest of shareholders that the proposed capital
consolidation be considered at a later date.