wal management lack of disclosure, page-4

Hi Todays

WAL has been trading at huge discount to CLR holding in the company since the listing of CLR back in December.

the announcement of the extra shares that were to be granted to WAL was made at time of listing of CLR and was disclosed in CLR register, so any valuation of CLR shares done by investors would include the extra CLR shares at the time of the granting of EPC 1175.


for WAL shareholders, it has NEVER been announced, despite 4 announcements talking of the EPC 1175 deal that 12% of WAL shares would be issued to pay for it. this is lack of disclosure. One would assume that these shares were part of the repayment of debt owed by terence burt (as per original shares acquired by WAL )


Therefore shareholders have been misled on the value of their shares

i agree stock looks cheap and CLR looks like a target but management here are suspect at best