They reversed the AS at the ratio to the OS they had said they would all along. I think everyone knew they would not let their option expire without executing this. I think it was originally scheduled to be a 100:1 for the OS and 25:1 for the AS but, I suspect, due to the depressed share price they increased it.
I believe we all saw this coming I think we just hoped it wouldn't happen. I have no problems exept the lower ratio for the AS. If they have no plans of diluting in the future then they sould have reversed at the same ratio for all shares.
Yes it is a pitty that the A/S were only reduced by 50:1. I dislike it too BUT as long as the company doesn't use them to increase the O/S, nothing out of the ordinary has happened IMO.
IFSL should sent out a strong signal illustrating that they do not have the intention to dilute their stock + that future deals/contracts will first be paid with real cash, not stock.
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