Ann: Notice of Annual General Meeting/Proxy Form , page-11

re: Ann: Notice of Annual General Meeting/Pro... Dr R,

thanks for you very positive post but I have to say my experience of consolidations is almost the exact opposite. The price tends to drift backwards quickly unless there is a steady stream of positive announcements.

in MCX's case I'm opposed because the only reason given is that MCX needs to trade a a share price closer to its competitors to attract quality investors. I find this simplistic and plain dumb because investors are always going to look at market cap and liquidity, both of which MCX lacks.

the massive potential dilution is also a big concern as there is no plan around what the MCX Board will do with the shares and no indication as to who they will go to.

Finally the lack of anything positive has lead to a SP fall, in circumstances where a 0.1c fall pre consolidation equates to a 10c fall post consolidation, so instead of coming back on the Boards at 50c we'll be at more like 30 or even 20c.

needless to say I won't participate in the SPP unless the Board set out some concrete plans to get to a profitable business soon.

anyhow rant over, and no-one's listening anyway !