That really stinks to threaten, scare whatever you want to call it people with delisting the company once 80% was achieved.... Then announcing an extension!! How can they get away with that sort of behavior.?
I compared the top 200 list I have with the most recent top 40. Out of that there were some larger holders who sold out or sold down. Obviously the $2.50 WNI's associates are offering on market is more attractive that pulp. But the biggest holders by far are the nominee funds and I believe it's them offloading. Now if that's people like you and I who use these funds, associates of WNI using these funds or the insto's themselves offloading, they are the only ones left with the sort of numbers we are seeing. Just look at the top 40 I posted.
As it gets closer to 90% , the sell side will dry up as I'm not interested in selling out to WNI :-/
Meanwhile as useless as I feel it is, I'll send a complaint to ASIC and the ASX about WNI's tactics in basically fooling people to sell into their associates buying up on market with the delisting threat.
I'm disgusted by it.
BRM Price at posting:
$2.24 Sentiment: Buy Disclosure: Held
