RE:Consolidation as required by NASDAQ ?April shareholder mtg...
4. Share Consolidation
The Board believes, for the reasons listed below, that a consolidation of the current number of outstanding Common Shares may be of benefit to the Company. Shareholders are being asked to consider and, if thought fit, to pass a special resolution (the “Consolidation Resolution”) authorizing the Board, in its sole discretion, to consolidate the Common Shares on the basis of a consolidation ratio to be selected by the Board, provided that such ratio is within the range of 1 new Common Share for every 1.5 - 3 old Common Shares (the “Consolidation”) and to amend the Company’s articles accordingly.