They will feel that they have to try, even just as attempt to adjust the facts slightly. They're massively exposed to a class action litigation being brought on behalf of shareholders.
The original ruling says clearly that the market was miss informed, and the share price action on the day of disclosure gives an indication by how much. Many hundred million $ at stake for them. Class action law firms will be taking a look ...
The good news is that WHC management can get on with running the business and pay no more attention. Legal firms will either pick it up or not.
Basically it's a free option for anyone who was holding or traded in that period.
It's great that the takeovers panel came out with such a decisive position. That will prove difficult to reverse I think.
Ann: TOV: WHC Panel Receives Review Application, page-3
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Last
$8.01 |
Change
-0.325(3.90%) |
Mkt cap ! $6.684B | |||
| Open | High | Low | Value | Volume |
| $8.07 | $8.10 | $7.88 | $27.24M | 3.419M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 29 | 18483 | $8.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.01 | 16158 | 26 |
View Market Depth
| Last trade - 11.56am 05/06/2024 (20 minute delay) ? |
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Last
$8.01 |
Change
-0.325 ( 3.66 %) |
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| Open | High | Low | Volume | ||
| $8.07 | $8.07 | $7.88 | 390761 | ||
| Last updated 12.15pm 05/06/2024 ? | |||||
| WHC (ASX) Chart |