WPG

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1.5¢ wpg resources ltd

thanks for your infoam i reading it correct that my 150,000...

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mick1956

40 Posts.

23/08/19

15:27

Post #: 40122228

Originally posted by John Veet: ↑
Dear Fellow WPG shareholders : I wanted to assess the effect of the Wilson DOCA 2 proposal on existing WPG shareholders. If I have done this correctly, outstanding WPG ordinary shares will be consolidated to 12,540,000 shares. New shares will offered at $0.02 per share to Wilson parties to a total of 266,400,000. This makes a grand total of 278,940,000 shares outstanding at $0.02 each and an implied capital value for WPG = $5,578,800. Of this $250,800 or 4.5% (approx) is the implied value of the WPG's consolidated shares (of existing shareholders) and hence the implied current value of WPG. The Wilson parties will own about 95.50% of WPG. As far as I know, there has been no public announcement about what the funds raised will be used for.
I don't guarantee the table below, please do you own calculations and DD

WPG Shares % Issued Value/share Capital
Pre consolidation 905,957,997 100% $0.000277 implied
Consolidation 12,540,000 4.50% $0.02 $250,800
implies 1 share for 72.2455

New Issues (to Wilson parties)

Issue (a) 200,000,000

$0.02 $4,000,000
Issue (b) 40,000,000

$0.02 $800,000
Issue ( c) 26,400,000

$0.02 $528,000
Total New Issue 266,400,000 95.50%
$5,328,000
Total Issued Shares 278,940,000 100.00% $0.02 $5,578,800

checksum 5,578,800
Expand
thanks for your info
am i reading it correct that my 150,000 shares are to be divided by 72.25 which leaves me with 2076 new shares @ $0.02
if i get anything back i'd be happy,as i'd assume my punts on wpg and mar (about $3000 on each) would be a capital loss when the companys are wound up
thanks

WPG Price at posting: 1.5¢ Sentiment: Sell Disclosure: Held

2 Upvote

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thanks for your infoam i reading it correct that my 150,000...

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		WPG Shares	% Issued	Value/share	Capital
Pre consolidation		905,957,997	100%	$0.000277	implied
Consolidation		12,540,000	4.50%	$0.02	$250,800
implies 1 share for		72.2455
New Issues (to Wilson parties)
Issue (a)	200,000,000			$0.02	$4,000,000
Issue (b)	40,000,000			$0.02	$800,000
Issue ( c)	26,400,000			$0.02	$528,000
Total New Issue		266,400,000	95.50%		$5,328,000
Total Issued Shares		278,940,000	100.00%	$0.02	$5,578,800
				checksum	5,578,800

thanks for your infoam i reading it correct that my 150,000...

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