Ann: LON 1H18 Results Announcement, page-54

Share consolidation, less stock on register-don't quote me, refer to your posted documents- but over 2 Bill shares becomes under 80m shares post consolidation.
Market Cap (MC) unchanged and less "supply" numbers of shares, tighter for trading. There was too much liquidity . Many funds will also not consider "penny stocks". SP becomes just over $1 based on 4.1c current SP.

Even though the size MC is a greater factor for determining if a company is large enough for a fund to invest amongst other more important factors, Laura is clearly planning to grow the company and for credibility, dropping the "penny" stigma is a good thing. Not always, but less shares is a catalyst for demand ( opposite of share split)- so slight gradual SP rise leading up to the April 18th often can occur.

Re: the comment about ease of CR, I dont' know about that. A bloated register makes it harder to do anything meaningful really - let alone a CR. Imagine eg. Issuing 50m shares just to raise just A$2m? One thing I feel certain about no need for any additional CR in the short to medium term as LON is already transformed fully funded now.

More important than this event, is the upcoming anns & plans that is surely on the roadmap from McBann. I'm sure thats what all the funds and investors will be eyes open and ears peeled for.