"1. Resolution 1 – Consolidation of Capital To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: “That, pursuant to and in accordance with section 254H of the Corporations Act, and for all other purposes, with effect from the close of business on the date of this Meeting, the issued capital of the Company be consolidated on the basis that every ten (10) fully paid ordinary shares in the capital of the Company be consolidated into one (1) fully paid ordinary share and where the number of shares held by a Shareholder of the Company as a result of the consolidation effected by this Resolution includes any fraction of a share, those fractions be rounded down to the nearest whole share.”
In other words, drop the last digit off your previous holding to get your new balance, and the share price should go up to around 6c to keep the same value. It usually takes around a week or two for the new figures to be available and it will go back to CIG.
CIG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
