Ann: Results of 2020 Annual General Meeting, page-23

The way I see that WCG takeover happened, is WCG didn't want 5GN, or anyone, 5GN didn't want all the risk, the small WCG holders had very little say, the WCG top 20 were staying put. I thought that a reduction of shareholders / concentration into fewer hands, would naturally push the price up which is what happened, vindicating the top20 position. I thought WCG board didn't do their shareholders any good by their advice to accept, maybe had no choice, almost seemed incapable of running the show, which is why the co was at low value. Imho 5GN played the game quite well in the absence of a superior offer, 5GN bought cheap, only have 49% the risk but all the control. If I had been a WCG holder I wouldn't have sold unless perhaps I was a recent holder and it didn't hurt. Maybe there had been enough turnover among the small holders for that sentiment to occur, I don't know.