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.
D13 Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held