RE:RE:consolidation.20M is a crazy figure for a consolidation....all that is required is the Transfer Agent change the bood of records (recordkeeping sys) for all registered shareholders - most if not all in street name/brokerage names. Then the brokers update their systems for the same ratio.
Yes there are costs to PLI, but I cant see the data costs to be more than a couple of hundred grand...this activity happens all the time is mostly automated by companies like Computershare.