sp cause for concern

well, if there is any doubt that the lack of information from the the LNG camp is causing an UNINFORMED MARKET - well here it is.

A proposed bid at 53c post CR.
We now have a sale of shares at 28c.

We have had at least 4 months since LNG was first identified as making the proposal to acquire WCL.

Not only has the WCL SP dropped to 28c at time of writing, but the Buy side has all but disappeared.

There is a buyer of only 5,000 shares at 28c, then the next Buyer is at 22c !!!

The market in WCL is Uninformed.

Whilst WCL may well not have any information to provide the market - LNG certainly does.

MY QUESTION IS - IS THE MARKET OPERATING ON A FULLY INFORMED BASIS?

*** CONSIDER THIS:
the LNG side has "PROPOSED" an offer of 65 pre CR subject to D/Diligence. It then goes away to study confidential documents which are simply not available to the marketplace.
They then study these documents without being held to a timeframe, then sit back and watch the market drop.

My point is, LNG has created a FALSE market in WCL shares - because they have proposed a t/o, but failed to not only deliver a formal offer, but not provided details of their intentions in a timely manner.

So ergo LNG creates the uninformed market, manipulates this market by withholding information on its bid and its intentions, then re-enters the market at its time of choosing!

IMHO, that is exactly market manipulation.

It is no different to you or I spreading a rumour, then watching the market move, then acting on that movement when we see the SP respond the way we want.

It is plain as our collective WCL faces, that LNG is sitting back happy to watch the WCL SP fall.

And it will continue to fall because they, LNG, have deliberately created this vacuum of information in the marketplace.

And one might also ask - where is this computerised trading coming from, such that we are seeing 1 share traded, and the SP dropping? ie Exactly who is organising this, and is there any relationship to the proposed bidders?

The directors do have an obligation to consider bids, but these proposed bids must be appraised in a reasonable time frame.

We need to announce to the market that LNG has been instructed to lodge a formal bid, or WCL will assume that LNG is no longer serious, WCL will close its data room, and cease negotiations as its wasting management time.

Either that, or WCL AND LNG shares should be suspended pending LNG announcing its intentions.

Not happy Jan!

cheers