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Luminus proposes share consolidation

Shareholders will meet on November 17 to vote on whether to proceed with the consolidation, which would be on a 100:1 ratio.

The board of Luminus Systems Limited [ASX: LSL] has proposed a share consolidation scheme, and has called a shareholder meeting to vote on the issue.

Shareholders will meet on November 17 to cast their votes. Luminus is proposing to consolidate shares on a 100:1 ratio.

Any left-over shares will be dissolved.

If the resolution passes, shares will be consolidated by December 4.

Nominations for the 2012 ARN IT Industry Awards open on Tuesday, June 12.

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