Forum Archive Index - April 2001

["Ian Andrews" <iandrews@ihug.co.nz>]

If anything is dampening WNC's share price , it is more likely to be the number of shares on issue. In the last month alone, 18.3 million were issued for the 2nd instalment of Radionet, 10 million to an undisclosed party & ex-largest shareholder Murray Acklin has subscribed for 2.5 million at a cost of $150,000.

 

Assuming WNC shares are worth substantially more than the current price of 2.8c( a new 12-month low reached today), directors should surely be insisting that large purchases are made on-market. This would surely assist the price.

 

Or maybe they have other reasons.WNC is supposed to have already banked $5 million from WeCU re. Radionet. Why then does it need to raise $150,000 from Mr Acklin the day after the recent shareholder's meeting?

 

I emailed "Rosscoe" after his recent post & he hasn't had the grace to identify himself. So much of one's interactions with WNC are "dancing with shadows". I have no interest in buying WNC shares at any price & do not suggest anyone else do so either, until the Company proves it is being run honestly & competently.