Ann: Ceasing to be a substantial holder, page-21

Hi Dr.Bull

@David1976 comes onto this thread to cross promote WGL ... well if he wants to play that game people who read this thread might as well be fully informed about the Co is trying to spruik.

Con note is short for convertible note... very well known to be the form of last recourse for Co's to raise funds. The money a Co draws down can be redeemed as shares by the note holder often at a discount of 15% to the VWAP... which they invariably sell as soon as they are issued thereby putting a constant downward pressure on the SP. When a CO raises via a con note they had better get some real revenue happening so they can repay in cash .... plenty of Co's have disappeared from the ASX because of 'death spiral financing'.