Isn't the SPP a bit of a red herring? How many shares
are people actually going to get?
In the SPP announcement they mentioned that there
were 6000 shareholders with less than $500 worth of
shares. Even if ONLY they applied and ONLY for $3000
(not the permitted $5000) that would be $18million
chasing $8million worth of shares which would net
them $1333 worth of SPP shares.
I presume a largish number of people may have bought $500 worth of WMT with the plan of applying for $5000
worth along with all the current holders who see it as
moving north and who are itching to get more at 21c.
Surely there is a huge risk of tying $5000 up for
a few weeks and getting less than a $1000 worth
of SPP shares.
Please feel free to check my figures but is it worth
bothering with at all?
I hold WMT and I am not a financial adviser. Do your
own research before investing.
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WMT
western metals limited