Ann: Consolidation/Split - LON, page-38

And there it is:
“Mr Robinson also said that having so many shares on issue previously was a handicap in managing the share base and for any future capital raisings should they be required to fund acquisitions.
"It was a nonsense amount."

So expect a capital raise soon. Expect a slow retrace and then a pull back to what ever the capital raise is.
This will be a slow burn at best and for any rerating it will need a take over or mergers. IMO.