Hi JareckiThanks for the sentiments.I've decided to accept the...

Hi Jarecki

Thanks for the sentiments.

I've decided to accept the offer rather than wait and see what final settlement the stragglers receive.

It isn't beyond Wah Nam to have another ‘independent’ valuation done that allows them to even lower the final price. Each individual should seek their own financial advice, but if you accept the offer now you can bridge the receipts across a couple of financial years, which I’m sure has been Wah Nam’s luring tactic all along (hence the June 14 closure).

I’ve chosen the HK exchange as the Aussie one is just a farce and will likely de-list now that the objective has been achieved. I imagine that Beckwith will receive his bonus now. Not bad being Director of a shelf company.

What happens to the WNI stock now is anyone’s guess. It’s hardly boomed since they announced they have acquired BRM. At least the HK market is a little more liquid that the Australian one…

I’m not holding out much hope of WNI re-rating. Given that they have nearly 50 times as many shares on issue than BRM there is little if any leverage and they are yet to raise a single dollar to fund the project.

Like everyone else I’m bitterly disappointed that it has ended this way.. and to some extent it hasn’t, given that those forced into accepting will need to find a way to extract some value from the free roll of toilet paper…. and get in behind the queue of Directors who have 100’s of millions of them.