WFL 0.00% 0.3¢ wellfully limited

Information required for decision

  1. 482 Posts.
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    As a long term shareholder, I would like tosee the following information so that I can make my decision in relation to the $0.015 raise and the price of $85m. At this stage, I intent to vote no.

    1. Financial statements for NS forthe period ended 30 June 2019.

    2. Live stream the upcoming AGM orrecord the whole AGM and upload to YouTube immediately. Whatever informationreleased in the AGM should be available to all shareholders not only to thosewho can attend.

    3. What is the expected return onthis $85m investment according to the board’s estimation and how to achieve it?

    I know the value of thedistribution networks in this deal but it doesn’t guarantee the success ofrolling out our products. Why not partner with NS to sell our products untilproving they work, then we take the next step. Margin may be low but much lessrisk. Sometimes slower is faster.

    I would like to see theboard had considered different scenarios to conclude this is the best formajority shareholders in term of risks and rewards.

    4. Updates on all current projectslisted below for their progresses and expected timelines soshareholders can consider if the raise at $0.015 is reasonable. I don’t want tosee a few months after the capital raising we realise that we can actuallyraise with a higher price and less dilution.

    Part of the reason we arecurrently sitting at $0.015 is the market doesn’t receive enough information, forexample, the board has been quiet in the last two quarters in relation toP&G.

    Also does the partialtakeover provision in the AGM resolution indicate that the board feels someonemay take over us? If an offer with $1 or $1.5 (after consolidation) per sharescomes, whoever participates in the $50m will make a good profit and may agreeto sell, but how about us?

    · Negotiation with P&G inrelation to second technology. What financial benefits the board expects to bereceived from this agreement?

    · Negotiation with P&G inrelation any new product developments

    · Negotiation with P&G inrelation to the revenue to be paid back to OBJ

    · P&G commercialization planfor 2020 CY

    · Progress on the products to bereleased by Reduit early next year

    · Progress on Body Guard project

    · According to the 2018 financialreport, there was a potential partner in Singapore evaluating our DCEtechnology. What is the progress on it now?

    · Progress on Body Care project

    · Progress on Surface hygiene


    I agree the board has been working hard andthey should be rewarded. I am happy to vote yes to issue shares ($0.3 per share upto $20m after 20:1 consolidation) to them to fund the Reduit rollout if theacquisition not go through or being postponed. With all the coming news and theproducts release, they should be well rewarded with these shares and we may beable to acquire some distribution networks later with a lot less financialburdens.


    Of course if I am satisfied with theinformation provided in relation to the above, I will vote yes for theacquisition. After all we should be ambitious.

 
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