importance of rights issue, page-3

Steini, you wrote:
When other companies did their cap rising they issued gazillions of shares for a huge discount and mostly they sunk. WHN offered just few options, only a small dilution of extra 25 %

That's not quite right. At the time of announcing this "modest and loyal" option allocation the company did place 29 million shares to the lucky ones for 3.4 cents. Now for those who believe the options program is a reward at 11 cents why weren't you offered shares at 3.4 cents?

From the 8 March announcement: The placement of 29 million shares will be made at a price of A$0.034 per share and has been managed by Allegra Capital Pty Ltd. The Company is also pleased to announce that it has decided to reward all shareholders with a nonrenounceable entitlement option issue .. at 11 cents all up LOL.