Six hundred million odd shares? Mate that's nothing. Anything under a billion is respectable.
I have mixed feelings about this. Obviously if it comes off then that'll be great, but was the timing so critical that it had to happen now? It seems an odd move when we're allegedly about to go cash positive and the company has been at such pains to say that cash flow made a CR unnecessary.
Why not wait a year and use the cash from operations to do a simple cash deal?
We'll see how it plays out, but with a CR price at 1.7 it's killed the chance of the SP rising if the cash does start coming in and things look good at WW.
WWI Price at posting:
1.9¢ Sentiment: None Disclosure: Held
