Now if yes vote gets up, FML, will need quickly need to move and do what they said they would. A share consolidation should be a priority now, as approx 9 Billion shares is not appealing, even though it will not change things,it is just physcological, certain Fund managers will not consider buying anything under a 50 cents share.
However say as an example in a 30:1 share consolidation, then we have 300 million shares on issue after the wash, of which sounds better. Take TAM - Tanami, done just that and they had 7.8 Billion on issue, however it done them little good, the SP is more or less the same, pre consolidation.
However, the bottom line, the company still needs to perform, whether there are 9 billion shares or 300 million shares
FML Price at posting:
3.4¢ Sentiment: LT Buy Disclosure: Held
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