 If the Consolidation is implemented and the market price of the Shares declines, the percentage

decline may be greater than would occur in the absence of the Consolidation. The market price of the

Shares will, however, also be based on the Corporation’s performance and other factors, which are

unrelated to the number of Shares outstanding. Furthermore, the liquidity of the Shares could be

adversely affected by the reduced number of Shares that would be outstanding after the Consolidation.

 The Corporation may still be unable to meet the listing requirements of certain senior stock exchanges,

even following a Consolidation.

 The Consolidation may result in some shareholders owning “odd lots” of less than 100 common shares

on a post-consolidation basis. “Odd lots” may be more difficult to sell, or require greater transaction

costs per Share to sell, than Shares held in “board lots” of even multiples of 100 Shares.