Reading the finer details of the Cancellation of shares-
Reasons for the Proposed Selective Reduction of Capital
The Directors consider that the Proposed Selective Reduction of Capital will make the
Company more attractive to future institutional investment and suit a potential future
listing on a US securities exchange.
Might be a year or 2 away, but it is great to see that management are aiming BIG for this.
How big you may ask...
Well they just agreed to cancel 284,000,000 performance shares - at current price, that is around $37m worth of stock that they agreed to cancel.
So I am pretty sure that they are confident they will be able to regain that (plus some), through the increase in value of their remaining shares.
Definitely excited about this stock.
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Intention to list on a US Stock Exchange
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