resumption of wni in hong kong

Announcement out in hk.

Not really worthy of a halt IMO but following the Ann re defeating conditions, they are moving to sure up the acceptances of their bid and will convert them to wni shares within 10 days.

Further any new acceptances will be issued with 10 days.

There will be an arbitrage opportunity now I suspect as discounts and premiums can be played within 10 days of each other.

Expect the wni price to fall or brm to rise. They should now trade at no less than a 30:1 ratio.

At least this will force some response from WR and the board.

I must say that wni has played the impotence of the takeovers panel beautifully. If brm was a household name there would be outrage. Imagine the same happening to bhp!