Yes, it seems to be firming up that the WNB 'shell' being the vehicle to be used by the Heat Group for a 'back door listing' as suggested in my post of 14 August!!! Now the big question is what will existing shareholder get out of the deal? I suspect, not a great deal. Maybe there will be a 1 for 100 consolidation. Then maybe a cap raise by a prospectus at 20c. The money would likely be used to buy out / allow BRC Capital to get their money out.
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Ann: Deed of Company Arrangement and Appointment of New Board, page-49
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