Taken from here
www.callabonna.com.au/tasks/sites/cuu/assets/File/.../CUU_NOM_web.pdf
Resolution 4
It is proposed that the issued capital of the Company be altered by consolidating the securities on a 1 for 20 basis.
The Record Date for determining the consolidation of capital will be 6 business days after the date of the General
Meeting at which the resolution is passed. Any fractional entitlements as a result of holdings not being evenly
divisible by 20 will be rounded down to the nearest whole number.
Section 254H of the Corporations Act enables a company to convert all or any of its shares by a resolution
passed at a general meeting. The conversion proposed by Resolution 4 is permitted under Section 254H of the
Corporations Act.
The consolidation will not result in any change to the substantive rights and obligations of existing shareholders or
optionholders of the Company. The purpose of the consolidation of the issued capital of the Company is to reduce
the number of securities on issue. For example, a shareholder currently holding 10,000 shares will, as a result of the
consolidation hold 500 shares and an optionholder currently holding 10,000 options exercisable at 1 cent will, as a
result of the consolidation hold 500 options exercisable at 20 cents.
The Company?s paid up capital, balance sheet and tax position will remain unaltered as a result of the consolidation.
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