WKT 10.5% 34.0¢ walkabout resources ltd

Information query.

  1. 9,562 Posts.
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    Hi All, given the following from today's funding announcement re possible funding alternatives

    "A high-yield short term quasi-debt instrument (High Yield Note) offered to wholesale and sophisticated investor and shareholder groups. This Note will be underpinned by elective equity conversions or loan redemption and ultimately secured by the mineral asset;"

    it seems to me there may may be a situation where a large number of shareholders may end up in possession of insider information as acceptable terms for this "quasi-debt instrument" are negotiated with "shareholders groups".

    As such I was curious what sort of mechanisms are in place to prevent these group from trading whilst in possession of such information which is likely price sensitive, or disclosing any such information to those who may then trade it, eg via a public forum such as Hotcopper. Are all the "Shareholder groups" members going to be required to sign confidentiality agreements?

    Also would be interest in what the Hotcopper guidelines are in such situations given the likelihood that members of said shareholder groups are likely to be posting on Hotcopper and many may even know who are in these groups.

    Just as an example, would a simple comment from one who is known to be in the know saying something like Shareholders would be mad to sell with financing being so near be a breach of HC TOU?

    All just in my humble opinion though and interested in others thoughts.

    Thanks

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