cold call = no delisting. extension certain

Have you guys wondered why WNI would do the cold call if they plan to delist ?? And why would they do a cold call a couple of days before the expiration ??

In a nut shell, they are desperate for our shares.

The cold call is an information gathering exercise to see what would be the cheapest way to get to 90%. Buying on market is still the cheapest way but it will have to be at least the cash equivalent of the phoney valuation.

And BTW the $2.2 sp is pretty deceptive. It's engineered that way (just a day or so before the deadline) so that the next mop up starts from a low base.

WNI will extend the offer come Monday and the sp will spike.

If I were WNI, I would mop up as much as possible on market at around $3 mark for the next period, then sit back and wait. They have already explained to the ASX that it's normal for the sp to converge with the value of the deal $3.05 or so ?

At $2.2 or (for that matter at $2.5), there is no incentive to sell.

If worse comes to worst, they will pay some serious big bucks on market to get from 87% to 90% and then deal with the consequence with having to explain to ASIC.