Probably not. Share consolidation is usually a consequence of a falling share price - if the shares have been trading in the fractions of a cent range - to give it a bit of liquidity. Peak's now trading in the 10 cent range, and if the SML is granted, it's not going to go down from there.
I'm not saying that they won't. Only that I'd consider such a scenario to be rather unlikely.
SML APPLICATION, page-6
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