No not really.
If all the options are exercised it will add $256,728,536.58 of capital under managment.
Dilution for for this additional $256m in funds will be 3.62c per share.
That is if you work on the current shares on issue as per marketindex and you assume a NTA of $2.7 for WGB.
The exercise price for the WGBO options are $2.54.
If NTA is much higher at time of conversion then dilution is higher.
If NTA is lower, the dilution is lower.
Current Shares New Shares Total Shares New Shares Price Current Price Diluted Price Dilution Per Share 1 ASX:WGB 345,152,257 101,074,227 446,226,484 2.5400 2.7000 2.6638 -0.0362
In theory the TGG conversion was done at an equivalent NTA and should not impact the WGB NTA.
We will see what the reported NTA is in the montly investment update.
Clearly some have started selling their WGB shares and thus we are at $2.56 today.
Ann: Appendix 2A - Scheme of Arrangement, page-8
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