Hi Tassie,WKT's largest shareholders have just over 5% of the shares on issue, they are also the company that is building the Lindi Jumbo Production facilities.
I am very surprised with them being a substantial shareholder and they have US$4-8mil owing to them for building the Production facilities (likely CAPEX remaining), Jinpeng didn't write off part of its debt to match its entitlement amount ($1.65mil).
Anyway, I don't think a major shareholder is WKT's saviour. ~80% of WKT's shareholders didn't take part in the entitlement offer and it sounds like the company is struggling to raise the minimum from Canaccord, I am really surprised Canaccord didn't secure over subscriptions as they have for WKT's peers.
WKT Price at posting:
17.3¢ Sentiment: None Disclosure: Not Held
