Ann: Change in substantial holding, page-3

I think the more likely outcome is that Strike and Regal agree to sell to a third party.

WE is far less of a priority for Strike now. And they are capital constrained.

Also, I think a full takeover will be extremely difficult for any party, mainly, because I can't see WGO's two largest shareholders selling their shares.

However, I think Strike would consider any scenario in which someone else takes a large stake in WGO (>30%) a good outcome. A new major shareholder would discipline, if not, remove the current management team. It would also allow Strike to redeploy the capital currently stranded in WGO.

This would also be a good outcome for WGO shareholders - the share price would get a solid bump (i.e. to more rational level) and it would better align management's and minority shareholders' interests.