Resolution 6 - Consolidation of Capital
To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution:
"That, subject to all other Resolutions in this Notice being passed, pursuant to section 254H of the Corporations Act and for all other purposes, the issued capital of the Company be consolidated on the basis that:
(a) every 15 shares be consolidated into 1 share; and
(b) every 15 options be consolidated into 1 option.
Repeated Consolidations of Capital rarely ends well over the long term, shareholders affected financially in the first consolidation will be even more so if there is a second consolidation, as is the case with GNM. November 2019 the company's shares were consolidated at 10/1 and here we are again ............ 31/2 years later, a lot of placements, capital raisings and shares issued since then to being no more advanced in a single project than previous.
For information, I will be casting a negative vote towards this resolution........
~ the information in the spreadsheet has been compiled using company announcements, search engines (specifically yahoo finance) for historical share prices and volumes.
cheers
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