I’ve said before that IMO the CN was a panic measure taken on very bad terms when the ASX was asking questions about their prospects for solvency, and they had no intention of ever using it.
It was a stop gap to get them past the AGM without having to do a CR and answer to shareholders.
All pretty devious, IMO, and shows a lack of financial nouse.
WGL Price at posting:
0.8¢ Sentiment: None Disclosure: Held
