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Ann: Application for quotation of securities - WFL, page-58

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14/06/22

09:50

Post #: 61982891
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Originally posted by trkrkd: ↑

While I don't share OBJF's negative outlook, I think it's naive to regard the GEM facility as equivalent to a vote of confidence in WFL. We all know how they make their money: give cash, receive new discounted equity, flip the equity back to the market at full price, profit from the discount and "dilution tax" to existing shareholders. They can profit from this arrangement irrespective of WFL's own prospects. They got into this for the ability to sell discounted equity back to the market, not because they wanted to take a position in WFL.

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Selling the discounted equity may have seemed easy at first but with change in global markets I wouldn’t be surprised if the GEM facility is amended shortly. In the even it isn’t I really don’t think WFL will receive sufficient funding to assist revenue generation at a time when discretionary spending is going to be alarmingly low

WFL Price at posting: 5.3¢ Sentiment: Sell Disclosure: Not Held
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