Fractional shares13 Nov 2018 07:40
A fractional entitlement may arise as a result of the Consolidation unless a holding of Existing Ordinary Shares is exactly divisible by 1000. For example, a Shareholder holding 1,500 Existing Ordinary Shares would be entitled to one New Ordinary Share and a fraction of 0.5 of a New Ordinary Share will arise after the Consolidation ('Fractional Shares'). These Fractional Shares will be aggregated and retained by the Company or sold for the benefit of the Company.
It Looks to me to be a way of wiping out some small PI entitlement which will consolidate a larger slice of any pie with the larger holders. If that is the case then it is part of a larger plan