Ann: Implementation of Scheme of Arrangement, page-5

First 5 Last

Share
Profile

Follow
Aji1991

76 Posts.

6

23/11/21

19:52

Post #: 57796034
Share

Originally posted by Killa68: ↑

close. They made a bid for WCG, got control, then they diluted themselves by issuing a heap of new shares in WCG which was actually bought up by 5GN Directors and mates. They then effectively stripped WCG of costs and brought everything inside 5GN despite the simple fact that 5GN did not actually own WCG (just major shareholder). That created a problem because WCG became the cashcow, not 5GN. They knew they could not buy the remaining WCG shareholders out so the easiest fix for the mess they created was to do a reverse takeover where WCG bid for 5GN. They had the votes to get that deal done. A heap of tax losses made this a worthwhile action as well.

5GN shareholders have lost, WCG shareholders who accepted the original takeover lost big time, WCG shareholders who held out from the 5GN bid initially won, but have not won from the recent merger but still have come out quite ok. The 5GN Directors and mates who bought a heap of shares in WCG at 10c (instead of 5GN getting them) and then received a shipload of performance rights (@20c) have made a motza. Thanks for coming !!

Feel sorry for original WCG shareholders and 5GN shareholders...... thankfully i kept all my WCG shares, but unfortunately i did swap some WCG for 5GN shares later on which has not worked out as expected. Ended up getting WCG shares back, but at a lower quantity.

Expand

I see what I missed! Thanks so much. Didn't watch the wcg side close enough to see this all happening.

5GN Price at posting: 94.5¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

TRP

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

BGL

Bellevue aims for 45% production increase by FY 2028, announces $150M placement

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

MM1

Geochemical work at Newington picks up gold and copper anomalies for Midas

ASX Market Open: ASX200 to rise for Friday session | July 26

There are more pages in this discussion • 7 more messages in this thread...

First 5 Last

Add 5GN (ASX) to my watchlist

(20min delay)
Last 15.0¢		Change 0.000(0.00%)		Mkt cap ! $46.96M

Open	High	Low	Value	Volume
15.0¢	15.3¢	15.0¢	$74.91K	499.4K

Buyers (Bids)

No.	Vol.	Price($)
17	5150644	15.0¢

Sellers (Offers)

Price($)	Vol.	No.
15.5¢	2029744	24

View Market Depth

No.	Vol.	Price($)
2	96991	0.155
18	6590606	0.150
6	1837949	0.145
4	161080	0.140
2	14821	0.135

Price($)	Vol.	No.
0.150	150001	2
0.155	2029744	24
0.160	633442	13
0.165	239845	4
0.170	408470	5

Last trade - 16.10pm 25/07/2024 (20 minute delay)

5GN (ASX) Chart

Ann: Implementation of Scheme of Arrangement, page-5

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Bellevue aims for 45% production increase by FY 2028, announces $150M placement

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Geochemical work at Newington picks up gold and copper anomalies for Midas

ASX Market Open: ASX200 to rise for Friday session | July 26

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Implementation of Scheme of Arrangement, page-5

Top Stories

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Bellevue aims for 45% production increase by FY 2028, announces $150M placement

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Geochemical work at Newington picks up gold and copper anomalies for Midas

ASX Market Open: ASX200 to rise for Friday session | July 26

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News