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6.1¢ cirrus networks holdings limited

I’m aware of the WCG/5GN structure - but hardly think that the...

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Kam73

33 Posts.

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04/10/21

18:23

Post #: 56553710
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Originally posted by Faking: ↑

Just to clarify some things for you. The mob who ran WCG into the ground are no longer directing the show. 5GN directors have taken their place and now control WCG. The $69M loss is due to restructuring costs and writeoffs as the new directors closed/sold unprofitable parts of WCG. WCG and 5GN are likely to merge in a months time. Currently $27M of the debt WCG owes is to 5GN which will be extinguished when they merge.

If you were to focus on just CNW performance since 2017. It was sold at 2c and was 2.6c before the WCG takeover offer arrived.

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I’m aware of the WCG/5GN structure - but hardly think that the 5GN directors are the knights in shining armour sent from the heavens to drive the CNW share price through the roof.

Their SP has dropped from $2 to less than $1 in the last 12 months.

CNW Price at posting: 3.2¢ Sentiment: Hold Disclosure: Held
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