No one can be seriously thinking that a move to the NSX would be on the agenda, surely?
There still seems to be some theory that WFE are being treated harshly but the ASX, "au contraire" WFE treated themselves harshly by not following listing rules, it is that simple.
Current share holders should be applauding the ASX, they are doing what they are meant to be doing and that is actually making sure companies are adhering to the rules and regulations of a public listed company as governed by the Corporations Act, ASX listing rules and Company Governance principles, THEY ARE PROTECTING YOUR INVESTMENT.
Reading through the NSX, they are aware that companies are finding it challenging with the increased compliance to the ASX listing rules, and as such, offer small cap companies an alternative.
In essence, that isn't such a bad thing, but the NSX offering simpler streamlined listing rules, threshold requirements and continuous disclosure requirements would be a concern (IMO) as WFE currently display (again IMO) a level of contempt to its share holders by failing to adhere to the current exchange listing rules as well as (as they are aware of) shareholder angst and can't be bothered to at least issue an update!!! but rather drop a BS tweet.
Also bear in mind, that
being listed on the NSX is also governed by the Corporations Act, to which WFE are currently failing to do and it will be additional months after/if they delisted from the ASX.
Listing on the NSX, (IMO) would do more damage to WFE, think about it..... as a potential investor, would you be able to trust a company that couldn't comply with the main Australian exchange, tail between legs and went off to list elsewhere because listing rules and compliance was "easier"?
What happened to listing on the LSE, from memory, they had made some enquiries and were informed that there was only minor concerns?
It is coming on to 12 months since the company made the announcement that they were going to "dual list" with the "pie in the sky" (basically WFE management having no idea) in the 1st Half of 2019........
Just to add to the previous debate on a s249D, as some posters here that were involved with the failed one over there (CL*) trying to justify that "they made enough noise" to make the company "sit up and listen" will not work here.
On behalf of a large number of shareholders,
@beisha took it upon himself/herself to arrange and compile a list of concerns for a lot of shareholders, to which Brewer responded. Unfortunately, the sugar coating that was in the reply email has failed to materialise, so yep, threatening the company with a 249D will not work............
cheers
