Reverse Stock Split, page-8

Bugger, I've just setup a pretty complicated spreadsheet to calculate the equivalent AUD CDI price each morning. This'll just ruin the whole thing.

I'm not so pessimistic on the "they must not have any good news to get the price up so lets consolidate the stock" theory. Even with good news, the big funds are only too happy to lend out stock for shorting. As cadrifter highlights, less shares should make it harder to short. So another more positive way to look at this will be lets combine good news and less shares so as to drive the shorters out. From a risk management perspective the current management team are doing the right thing and taking delisting risk off the table.

Now, back to that spreadsheet