Would WFE as they have been suspended for a long period of time (is 12 months a long time?) have to pay the full fees? Does WFE have that cash available considering the lack of the quarterly, and going off the quarterly to 31st Dec where there was $867,000 in the kitty with a estimated spend of $115,000 for the next quarter leaving $752,000 but the increased amount of work being done to get re-listed on the ASX, the engaging of lawyers to get (proposed) listing on the LSE, cost and sundries for a prospectus, road shows etc (I would guess that there would be a considerable amount of money being spent) as well as Brewer hoping all over the place (how much of the travel would be attributed to WFE versus his other companies?)
Dual listed means that the shares on the LSE and the ASX (or NSX) will be separate entities? What tax implications will there be? Will WFE issue depository receipts to list on the LSE? If they do intend to issue DR's are they aware of the time line of planning as such (24 weeks) Are Memery Crystal on the list of approved sponsors of the UKLA for listing on the "Standard Segment" of the main market on the LSE? You keep mentioning IPO, if this is the path WFE take, the review process from the UKLA takes 6-8 weeks upon receipt of the prospectus,this would put the approval from UKLA at around mid to end June? if of course the prospectus has been finalized and sent for approval. The time line guide on IPO listing from the LSE website puts it around 17 weeks + 30 days. How can WFE guarantee that they will have working capital for the 12 months following the publication of a prospectus, when they can't announce their quartely ?
IMO, WFE may be a little ambitious with the "Dual Listing" announcement and time line
LIAM
WFE Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
