Ann: Notice of General Meeting/Proxy Form, page-4

I've never been part of a share consolidation, but this seems like a sneaky way for them to continue doing more CRs no?

As soon as they consolidate the shares, there will only be approx. 97 million shares on issue (instead of 2.43 billion). The first likely thing they will do following the consolidation is do another CR for millions more shares @ ~$0.90c, which will then just dilute our shares even further and further increase the Market Cap, which will start making LON look very overvalued considering they aren't making any profit and still losing big $$$.

If I'm wrong, let me know as I'm still new to share consolidations