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Ann: WNB September 2020 Appendix 4C & Commentary, page-80

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PH441324

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16/02/21

12:18

Post #: 51030652
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Originally posted by danwilly: ↑

I managed to get hold of someone at WNB

Auditors are in there this week ... i presume to see if it is still a going concern ... they are still banging on that Spa Sale is afoot .. IMHO this is v v v unlikely as buyer will just wait and buy from administrator for a lot less than $1.1.m

Best hope is somone else either will put in $$ at huge discount (they can do this through a convertible note with a conversion price at a discount to average market price over a period of days) to keep going which will mean our shares will be massively diluted so current shares worthless for all practical purposes

Otherwise ... administrator appointed and shareholders get zilch

First option better for secured creditors

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I think I'd prefer administration at this stage. Get the tax loss booked before the EOFY.

WNB Price at posting: 6.8¢ Sentiment: Sell Disclosure: Held
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