Capital raising will be a failure in current climate. Even worst that they have crashed the confidence of the market by destroying the wealth of previous investors. Market says: WBE can't be trusted, will do it again, why bother when so many less risky propositions are out there! IMHO, the cow is dry, can't be milked anymore, time to give back years of milking and save the company. Withdraw this prospectus and do a private placement at 1c, that will boost confidence and market will react accordingly, even the options expiring on 30 August will come into play. I am not a lawyer but I am wondering if ASX's emergency capital raising relief below could apply to WBE, Anyone?
Conditions:
Ann: Entitlement Offer Extension, page-4
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