too many shares - groomed for t-over only, page-28

Capitan
Perhaps you might get your facts in tune with history.
For example, RRL (Regis).
Oh yes, their share issue is 450,000,000 NOW
What was it prior to completion of their Feasability Study iand in 2007?
Oh gosh, it was 1.86 billion.Then there was the 4:1 share reduction David Walker initiated.
RRL had almost three times the shares on issue as IDC.
Oh, and that was three years befor RRL completed their feasability study.
So this puts the absolute fallacy to your comment in my respectful view.