consolidation, page-9

Becton offers record one-for-200 share exchange

By: Florence Chong From: The Australian November 30, 2011

http://www.theaustralian.com.au/business/property/becton-offers-record-one-for-200-share-exchange/story-fn9656lz-1226209615148

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BECTON Property Group, one of the big losers in the global financial crisis, is undertaking a one-for-200 share consolidation, the largest undertaken in Australia.

Its share price would go from 0.6c (less than 1c) to $1.20 apiece when the consolidated securities trade on the Australian Securities Exchange from next Tuesday.

Becton, whose share price reached a peak of $5.08 a share in July 2007, seeks to reduce total shares on issue from 4.3 billion to 21.7 million.

The company sought unitholders' approval at its annual general meeting last week to start the consolidation.

Its chairman, Bill Conn, said the move was intended to reduce volatility in the stock. He said it would improve liquidity and better align market value with underlying value and, in doing so, provide an opportunity to attract new capital to the business to fund future growth.

"The ability to grow will be key to rebuilding investor value in the company," he said at the AGM.

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