I think you may be right tamaraw. About getting rid of the fence sitters,,, non believer retailers.
But they do need to maintain a certain number of public shareholders with a certain number of free trading shares, otherwise they will need to adjust the consolidation ratio.
See here,,,,
In order for the Corporation to continue to meet the applicable Tier Maintenance Requirements, the Corporation must have at least 150 “public shareholders” (as defined under Exchange policies) holding a certain minimum number of common shares of the Corporation, each free of “resale restrictions” (as defined under Exchange policies), after completion of the Share Consolidation. As a result, the Board may determine that it is necessary to implement a lower Consolidation Ratio in order to satisfy the applicable Tier Maintenance Requirements and obtain approval of the Share Consolidation from the Exchange. The Board may also determine to implement a lower Consolidation Ratio for other reasons, such as to adjust to a higher stock price for the Corporation’s shares or to reflect an increase in the actual or expected value of the Corporation’s assets.
