share consolidation will proceed , page-6

Not knowing how a consolidation works, doesn't the value remain the same and only the number of shares on offer reduced.

So 100 000 shares @ current shareprice 2.9cps = $2900. Post consoldiation 10 000 shares @ post consoldation shareprice 29cps = $2900.

My asumption is the market cap of the company remains the same so 10 000 shares has the same value as 100 000 post consoldiation.