non-renounceable entitlement issue

Following the details of the 1:1 rights issue that was released to the market this morning the number of shares on issue will double to 7,437,522,320.

I wouldn't be surprised to see a 1:100 share reconstruction sometime next year given the number of shares that will be on issue following the rights issue and the capital raisings to follow.

It will be interesting to see what the take up of the offer is like and if management are able to place any shortfall that occurs.

There seems to be a lot of interest in this, especially offshore (outside of Australia). The potential is certainly there.

Some time ago a fellow poster referred to WAS as a sleeping giant. I agree so long as the company is able to fund itself through to commercialisation over the next few years after which there should be no turning back.