Croc, my guess is as good as yours. I'm influenced by the way Trevor says something like: $3 mil plus about $3 mil extra. He looked unsure and a bit rattled at that point. Also, the SPP of $15,000 worth of shares per eligible holder, means that it would require only 200 holders (or about 8% of the 2400 holders) to take up the full entitlement to give WKT the $3 mil from the SPP that it needed. But if more holders apply for shares, which I reckon will happen, then how are they going to be satisfied? The announcement on the 4th October said that:
"Existing shareholders may also request to participate in the Top Up Placement subject to meeting the requirements under Section 708 of the Corporations Act 2001 and Anti-Money Laundering and Counter-Terrorism Financing Act 2006."
So, what if enough shareholders apply, such that the $3 mil extra for the Top Up is also filled? Will these eligible shareholders get shares in preference to Paterson's or will they miss out? These details should be explained in the details due on Friday. Also, all of the other issues that have been raised by you and others since the announcement, need to be clarified in the detailed announcement. So that's my hope but I'm wrong more often than I'm right, amigo.
WKT Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
