i imagine that almost no-one is in profit on their whn shareholding, apart from those such as directors who received them as freebies (athough the entry value was also probably higher), seeing that all time low was 0.8cents i believe, and the current sp is 0.9cents... therefore its actually impossible for much of the shareholders to be in any sort of profit on their holding... so why would they fork out for money ?? because of a threat that their existing holding will be diluted ?? from what i recall, after reading the prospectus i had th feeling that there was nothing in it about shareholder returns nor share price appreciation due to successfully completed work progammes etcetc... just statements about what they needed money for, and that they will be needing loads more even after this rights issue...
at this point in time, i think this is a disaster... the sp was lurking up at 1.5c recently, looking like it might pop up and hold 1.8cents... but they are just thoughts now... haha..
am still always hopefull that the directors will fully endorse the rights issue they are asking their fellow shareholders to participate in... because as far as i am aware, they are yet to fully endorse the rights issue due to lack of announcement stating that they will take up their full entitlements... (if it has happened, then please disregard the above comments...)
QFY Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
