And there you have it folks. The reason for the consolidation is...

And there you have it folks. The reason for the consolidation is to prepare for future fund raising. In their own words.
"This is an important step in achieving our objective of introducing cornerstone investors to the Company and leaves the Company well placed for future access to capital markets as required".
It's much easier to raise cash with only 60 odd mil on issue rather than 600 odd million. and it's even funnier when you read this.
"It is also important to note that this initiative will not dilute the interests of any shareholder, as all shareholders interests will be consolidated on the same pro rata basis".
Who are they trying to kid. On another thread someone predicted 7 or 8 cents. Won't be long, and you can then divide that by 10!