Ann: WGB announces Bonus Issue of Options to all shareholders, page-19

I am not positive at all at this "bonus".

Purely an opportunistic move on Wilson's behalf to raise the FUM at the time of market euphoria. They flagged it at the recent conference call too, trying to copy the MFFs issue that Chris Mackay has successfully done on more than one occasion.

The difference with MFF is WGB is 1 for 1 issue, so there will be no scarcity of options on the market, and as rightly noted by several posters above, it will probably cap the upside for the next 18 months.

IMO they should have been steady and do a 1 for 3 or 1 for 4 issue, which would still have the potential to raise over 100 mil. But no, let's try to double our fee intake and use clever marketing to disguise it as beneficial to all shareholders. I think Geoff is getting too greedy at the old age.