NWT 0.00% 11.5¢ newsat limited

around Nov 2011 was the shareholder vote on it so I guess early...

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    around Nov 2011 was the shareholder vote on it so I guess early 2012.

    They had to consolidate because the number of shares out was ridiculous. Investors were staying away and it made it difficult to raise more money through new issues etc because it just piled more shares on top of more shares. Doing a 1:50 tidied things up and gave the Company an air of respectability

    http://cdn.computerworld.com.au/article/400462/newsat_proposes_share_consolidation/
 
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