re: Ann: Shareholder Meeting - Withdrawal of ... I'm a little...

re: Ann: Shareholder Meeting - Withdrawal of ... I'm a little confused. Why would they not go through with the consolidation? Not that I really care either way, but a consolidation should have no massive effect on the share price, and the price would sit somewhere between the equivalent of 0.001 and 0.002 (or between 10c and 20c post consolidation).

Given they have 1 major shareholder, I can only assume that they weren't going to vote for a consolidation, for their own reasons, and hence the directors withdrew. And I can understand on one level that the major shareholder (Freefire) doesn't care if the share can't trade effectively between 0.001 and 0.002, because they indend to be a long term owner of the resource.

But it's interesting, because I reckon the directors wouldn't have originally proposed the consolidation without knowing Freefire's intent, which could mean that Freefire changed their mind.

Or, I'm way off the ball and have NFI.

:-)