This company was just given away. Our directors are masquarading as people who care about shareholders and have just lined the pockets of their mates and themselves.
The .006 capital raise in one thing. This price is at near three year lows and follows an asset sale which yielded an amount close to the market capitalisation of WCN prior to the capital raise. Surely increasing the cash element for this sale would have prevented this capital raise. But that was not genuinely tabled or desired buy those in charge.
The .012 free attaching share options is another. The strike price is way too low and only serves to line the pockets of the mates who got these rates.
The WCN gaslights are on and shining brightly. The truth is that the costs associated with the capital raise are disproportionate. The capital raise was unnecessary. The options will be in the money soon.
Ultimately, look who is smiling. It is definitely not the guys who did not particpate in the capital raisings.
WCN Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)