TELESTA THERAPEUTICS INC T.TST

15:1 Share Consolidation

[RetailRube]

The Management Information Circular and Voting Proxy Form were posted to Sedar.com yesterday morning.  One voting resolution is for shareholders to consolidate shares by up to 15:1 at management's discretion.  Board of Directors standing for election do not include anyone from Consonance Capital.  Only new director candidate is the person to replace Rod Bud who resigned to enable the company to meet SEC rules.  Several other resolutions related to employee share option ceiling, a retirement plan (possibly a renewal of the existing plan ... I did not read the details), and renewal of the shareholder protection plan in case of a hostile takeover offer.  That's all from a quick read.  I hope I got it right.

[HighteawithIntrepid]

Thanks, that appears to be listing consolidation so no harm no foul in my opinion.

[terr2]

Please elaborate. thanks

[higgsboson]

loser sh-it-io take note   that is what a good post looks like   I am sure sh-it-io will have something negative to say about it     as I said before    get lost

[DamnYankees]

looks like the 15:1 consdolidation has about as much appeal as the "shelf financing". The difference is that management has stuffed their pockets with options and they now have a significant US position involved. That would indicate that the share price might become a point of interest in the future. I would project the 15:1 to go off at about 25 cents/US for $3.75/share, leaving its

[Kveinot]

So how long will the process of voting for share consolidation take? When do we think the actual 15:1 split could happen? And also what does everyone think the pps for the split would be? ie 15:1 a 30c = 4.50 a share?  Thanks 

[DamnYankees]

KN. voting will be token exercise won't it? i wouldn't bother its a done deal should management choose to consolidate. 25 us is a good number for the 15:1 if Nasdaq is the goal. it leaves a lot of upside and confirms some incentive that new buyers are getting in early in the cycle and "under the radar". on flip side doesn't leave alot of cushion on the downside if the biotech

[Kveinot]

.25 isn't exactly good for those of us who purchased in this last run in the 40,s.  Sure if if you are a bag holder it's great. 

[DamnYankees]

Ki remember that is US so its not that bad. If you bought the news than you might be out of luck until they get into the Radar. Big drop after their coming out yesterday to New York biotech crowd. Maybe they saw some red flags? I thought the presentation looked Ok myself.

[Kveinot]

Ahh yes forgot about usd . thank you!!