Ann: Non-Renounceable Issue - App 3B-WKT.AX, page-2

All the signs were there: http://hotcopper.com.au/threads/wkt-where-to-begin.2890242/page-66?post_id=19229345#.V-uWzyTzqUk

Another potential 500 million shares on the register.

Dilution amounting to 25%.

What's more is - if holder's don't take it up, then the company may potentially be in a position to allocate the shortfall at its discretion - which mean the 0.4 cent overhang could sit there as a price cap for some time to come.

What is further interesting to me is the absence of a JV partner.

My guess is that a lot of people are going to try to get out at 0.4 cents and there may be an opportunity to top up below 0.4 cents as people may see this as potential to keep them stuck in WKT stock until weeks or months down the track when the rights issue is over.

Best of luck to all holders.