WCG owns 155m shares in CNW which equates to 16.74% of ownership. Another fund has also bought in just over 5% of shares which now holds power in the company. if WCG and Harvest Lane fund works together then they own more than 20% in the company and can have upper hand in rejecting the so called "remuneration report" where they use to give out 1.7c options...or even reject new or existing directors... IMO.
I also noticed that CEO is on leave... too late... I guess... IMO.
Anyways a drama will continue based on what happens next in AGM... and how Harvest Lane vote... !!
Good luck to those who are still holding... ! At no cost WCG will be better for CNW holder as it is takeover bid not the merger bid ... .IMO.
CNW Price at posting:
3.2¢ Sentiment: None Disclosure: Not Held
