Ann: Application for quotation of securities - WML, page-32

While that may be true regarding some Sophisticated Investors. It's true that a lot of Sophisticated Investors have made their wealth from other means besides the Equity Markets.

A lot of the Sophisticated Investors that are asked to be involved in these types of Capital Raises are more than happy to take their profits quickly if they are there. They are backing/know that either the company will have good news or there will be time to get out with a nice quick profit anyway. So some Sophisticated Investors rely on their Broker to make sure that their funds will return a quick 10% to 30%.

The problem with this recent Capital Raise was that share price went up 50%+ in the days leading up to the announcement. Who knows why this happened although there was a lot of talk proceeding the Capital Raise from day traders on various platforms including HotCopper. WML would already have been scouting for interest in a Capital Raise which would have been discussed at a far lower price (1.3c) than the most recent high.

I know the Capital Raise is a terrible look for the Company (WML) but they wouldn't have known that the Share Price pump was coming or shouldn't have known. One thing for sure is this Capital Raise would have damaged some of the existing holders and also the Sophisticated Investors belief in WML Management. I can't imagine that the Sophisticated Investors would have made much or anything out of the CR yet. Some will be looking to get out as soon as the share price rises again which will provide even more resistance against the share price.

@kingkev may well be onto something here. Normally to get the Sophs to part with their coin they almost need to be guaranteed a nice return.

Just my take on the whole WML Capital Raise fiasco.

All the best WML Holders.