HC has this delightful little feature which allows you to see when a member was last online. The reason I followed up was because according to HC, you'd been online several times after my post, but not replied. Not sure how that reconciles with "I haven’t checked into HC for a while", but I'm sure you'll have an explanation.
Amusing that you've dug through all my posts on WLD and quoted the one that puts your ownership of stock in the best light. As you know, the reality is that you've been riding this thing since it was 25c+. Here's just one example:
https://hotcopper.com.au/threads/ann-ceasing-to-be-a-substantial-holder.3277946/page-12?post_id=23155175You describe the class action as a "baseless claim". At the end of the day it will either settle (which would suggest it isn't "baseless") a judge will decide on it. If it does go to judgment and it fails, good for you. The information I've read on it smells, though. And it smells...bad.
https://www.icp.net.au/icp-claims/wellard/Your claim that "the discovery phase ain’t discovering much of interest to the litigant" is at best a non-sequitur, and at worst it's simply wrong. The fact the litigation hasn't resolved since discovery was completed several months ago suggests to me that those pursuing the claim still think it's viable - otherwise, presumably, they'd have withdrawn it.
You say WLD "
has disclosed on the ASX that it holds insurance for this type of class action." That is a bad misinterpretation of what WLD has actually said. To quote: "
Wellard has been asked by a number of shareholders whether it possesses Directors and officers (D&O) liability insurance. The specific arrangements Wellard has with its insurers are confidential. However, as would be expected of a listed public company, Wellard has various insurances in place to deal with a variety of risks, and the Company would be expected to give ongoing consideration to its entitlements under any potentially relevant insurance." That's a lot of words that basically say nothing. Maybe WLD has insurance that will respond; maybe it does not. WLD hasn't said. And if WLD
did have relevant insurance and the insurer had confirmed coverage, don't you think WLD
would have said that clearly and expressly?
Finally, you talk up cashflow and NAV and profitability. I won't waste time on all that big chat; you've been banging on with the same arguments since WLD was 25c+ and it hasn't proved correct yet. It suffices to say that I don't think WLD's future is as rosy as you paint it.
