FA & General Banter, page-15403

"I will throw this in as well and I could be well wide of the mark that these maneuvering of directors paying up long dated options could be because a share consolidation is on the way."
A consolidation IMO is not a reason for converting options into shares early, because just like shares options would be consolidated at the same ratio. So I can't see a consolidation as a reason at all!

"The shares are already tightly held as evidenced by the low number of shares on the market depth.
Nothing like making the shares even scarcer with a share consolidation and when the institutions come knocking they will have to pay up big time."
I would suggest that institutions would have a ball manipulating SP after any consolidation. Sure if it is about an initial position they pay what the market is asking however after that, if they wanted more they would work on depressing the SP in order to accumulate more at a lower price, however their overall percentage after consolidation growth much faster/higher. Take a look at the CHN chart and tell me what happened to their SP since they had institutional investors. Looks to me like an growing accumulation pattern.

Say you consolidate LTR 1 for 5, in theory the SP goes to $2.15. I wouldn't be surprised to see it played down to $1.50, before it is let go again. Something else to consider is if at the moment we have an increase of say 10c, we looking at a SP increase of 23% compared to 4.6% if SP is at $2.15. even more important is the that the increase is on a substantially reduced number of shares. If you break those figures down and apply it to your actual holding numbers I would be very surprised to see any benefits on the individuals holding. The benefits are on the institutional holders side! Alternatively do the same as a per 1 million calculation, which would reduce to 200,000 shares.
Another point is support or new entry by smaller holders. How many of the current holders would or could really afford to support/enter LTR at around $2? However for institutions that $2 price tag wouldn't be a challenge. So the power of the "mums and dads" would certainly diminish in comparison to institutions, wouldn't it?