A layman, and long term WBT investor here.
Please take what I noted below with a big spoonful of salt.
1) Suspension by the ASX is NOTHING SINISTER. Following the resignation of 1 Australian ordinarily resident director (Mr Bart), and leaving only 1 serving Australian resident director (Mr Krongold), WBT is no longera public company, and therefore cannot be listed on the ASX. Accordingly, the ASX had to suspend the listing of WBT shares as it is no longer a public company owing to its non-compliance of the minimum of 2 Australian directors rule. (s 201A(2) of the Corporations Act 2001 (Cth))
Once an Australian director is appointed to the Board, and its public company status restored, I believe, it can go back to the ASX, and have its listing and trading of its shares reinstated.
WBT may have to act in a way that the suspension is not unduly prolonged as it could have the repercussions on future fund raisings.
2) The WBT closing share price on 30th June 2022 was $2.38. Assuming the suspension remains in place post 30th June 2023, based on the last done price of $5.70, there would have been a capital growth of 139% p.a. NOTHING TO BESNIFFED AT. By not having a high closing price at 30th June 2023, say over $7.00 as was recently transacted, this will give LTH a lower base (or denominator), to calculate next year’s capital growth, should WBT price march even higher following anticipated positive announcements. “Buffering” for next year’s growth in share price?
3) For self funded retirees, a lower WBT closing share price at 30th June 2023 will mean a smaller Account Based Pension payout from their SMSF for the next financial year. This is especially true, where the fund size has gone up significantly following the jump in share price of WBT in their portfolio.
Another kicker is the fact that the 50% discount for the minimum pension drawdown is no longer available. Hence sale of assets from the SMSF, including possibly selling WBT shares, may well be necessary, and as a LTH of WBT, this is not something to look forward to. Hence a lower WBT closing price at 30th June 2023 is a blessing.
4) For shorters, NOTHING gives me greater pleasure than to see them scrambling to buyback to cover their shorts. With the suspension currently in place, and impending news on qualifications as well as client sign-ons, the worm is turning. An appointment to the cardiologist could well be in order.
(20min delay)