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Is a share consolidation compulsory?

The detailed question was:

I am wondering about my shares in Walkabout Resources. They have announced a consolidation of one for every twenty three existing shares and I cannot figure out if this is compulsory or not. It looks pretty uninteresting to me! Shares are now .003 and I bought in at 1.2 cents. Here is the link where they announce a consolidation/split: http://www.asx.com.au/asx/research/company.do#!/WKT
I am only a small investor but it is gonna hurt if it is compulsory, I think. I can't decipher if it is compulsory or not, and all this is due to happen while I am overseas, which is a real pain. Any information you can send me would be greatly appreciated.

I don’t know anything about this company, but I am sure looking at the announcement that it is a compulsory consolidation. That is not really anything unusual. With low-priced shares there is often a consolidation – you have fewer shares, but the price should increase roughly in proportion, so  you are no worse off. This is the opposite of a share split where say, one share becomes two new shares and the price of each share will roughly halve.  As I say, consolidations are very common - with speculative shares and backdoor listings.

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