This is probably the right decision given the circ

This is probably the right decision given the circumstance. There is nothing to be gained by having the number of shares in the float increased and shareholders taking a 50% haircut. Back when this was originally set in motion it was expected to be from way higher levels with good progress being made on the business plan. NAZ up-listing etc. The subsequent PPS decline would have looked like a buying opportunity if things had gone smoothly.