ECQ 0.00% 2.5¢ eco quest limited

Sorry but I don't understand the announcement and the...

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    Sorry but I don't understand the announcement and the conflicting posts. Does this mean that current holders of ECQ will have their shares consolidated into the new company at a rate of 1 to 20 ?

    Appreciate if someone could just explain what it means in practice.
 
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Currently unlisted public company.

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