interesting scenario to consider

WCL will trade ex entitlement next week, and the offer will close on 5th April.

Allotment is expected to occur 17th April.

But as I understand the situation there would be nothing stopping LNG buying on market without declaring themselves until they scoop up 5%, whilst the shares are trading ex entitlement, and then lob a formal offer, on the basis that the new issue does not proceed.

Those holders who have sold on-market will have lost out altogether!