RE: watchlist27 Oct 2022 20:59
It looks like Rhino Ventures the biggest share holder sold 325,000,000 Non-Voting Ordinary Shares in the Company to an unconnected third party....who also converted 50,000,000, leaving 275,000,000NV.. and has converted more, and sold voting rights..
Rhino then had 52.17% of the 575,000,000 Non-Voting Ordinary Shares. so approx 299,977,500 or 300,000,000
Sanity Check 299977500+325,000,000-50,000,000=574,977,500..
But Rhino now have 235,000,000, after converting 65M, june 27th RNS...
So all the others likely the 3rd party
READ this............
The Non-Voting Shares were originally issued to Rhino on 6 August 2020. Under the Company's articles of association Rhino may not convert its holding of Non-Voting Shares into Voting Ordinary Shares if by doing so it would increase its holding in the Voting Ordinary Shares in issue, when taken together with any of its affiliates or persons acting in concert, to be equal to or exceed 28% of the enlarged issued Voting Ordinary Share capital in the Company. The Company has received confirmation from Rhino and the Purchaser that they are not acting in concert.
Following the Disposal and the conversion Rhino still holds 409,400,000 Voting Ordinary Shares in the Company, which will represent 21.46% of the enlarged issued Voting Ordinary Shares, as well as 52.17% of the 575,000,000 Non-Voting Ordinary Shares. Also, as announced on 13th January 2022 the Company has a $2.0 million unsecured general-purpose two-year facility outstanding from Rhino.
https://www.lse.co.uk/rns/WBI/holdings-in-company-j7afaxdaa50927z.html
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