Yes goarmy - it is absolutely essential that a price sensitive announcement is forthcoming prior to the closure of the CR.
The offer they have made is the only option left on the table.
If they make a placement after the closure date to a sophisticated investor/s and then make a price sensitive announcement.......... then the existing shareholders will have been shafted.
After what the existing shareholders have suffered, I am sure they would not even contemplate such a course of action.
WGL Price at posting:
0.5¢ Sentiment: None Disclosure: Held
