basically during the previous months before option expiry the shareprice was sold down heavily on large volume to keep the shareprice under the option strike price of 5 cents whilst quite good announcements were being made.....right up until suspend/expiry....
I know for a fact that the ASX asked the company if the options were going to be underwritten to which the company said no....
that was the day before the options went into suspend and could not be traded anymore....
the very next day the company announced the options would be underwritten at a 20% discount and a fee was to be paid to the underwriters......who were called astute undisclosed investors.....
so basically the option holders who were the rightful holders got screwed...
its no secret in the business world that this was seen as disgusting and Wedgetails corporate profile has been paying for it ever since.....
not sure if the underwriters are too happy about it now either....thats if they still hold.....due to the current shareprice
also not sure if the saga ended there either as I know that the ASX and ASIC were strongly considering legal action and that Slater and Gordon were involved at one stage.....
something may well of happened behind the scenes as mysteriuosly some are now gone from management since.....
except for the person who I hold accountable for it all.....
WTE Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
