Ann: Response to ASX Query, page-37

I've tried my best to be real and cool about this. I've seen CR's knock SPs plenty of times before, etc, etc. But....

for real, it has cost WBT near half a billion $ of MC, to raise a paltry 45 mil.

By any measure, that is seriously bad.

Yes, some crooked scum have made serious money out of this. The insider trading was blatant and criminal.

Yet, whatever, once the issue is priced at $5, that's where the SP goes - whether it goes there before or after the ann.

No brainer. WBT know that - we all do.

Knowing that a $9 (and rising) stock will soon be $5 must have been too tempting for some insiders - slippery as they often are.

WBT have such an experienced and confident team. Why would they be so terrified of not getting this CR away, that they'd hold a fire sale?

After the leak, we saw major trading volumes between $7 and $8. Demand was huge. At the same dilution, WBT could have so easily raised $$70 million, AND kept it's MC solidly above 1 billion.

Simply by raising at a realistic SP.

Not suggesting malfeasience on WBT's part for a second, BUT, WBT could have stepped in.

Were they inhibited by the fear of further disasters following the SVB collapse? A touch of panic?

Mayne the underwriters insisted on $5, but at that price, why bother with them?

Yes, go after the criminal leakers. Go hard.

But there are wider issues here to. Surely there are better ways to raise $45 mill than by giving away half a billion in MC?