After consolidation of your current 1,000,000 shares, Roxzen0077, you get 1 new share for 5 x current = 200,000 shares.
At current share price of 0.004, that takes the new share price to 2c. I think 2c is the minimum price the ASX needs when a company goes through a change of name and change of focus i.e. reverse take-over say Mining to Telecommunications.
There may also not be the need to prepare a prospectus to go to open market with. A supplementary prospectus may be required as a matter of ‘book-keeping”. I think overall, the consolidation was needed and helps to facilitate an easier transition from earth (BUR) to sky (SSG). .................Perhaps someone else can clarify this?
BUR Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
