Q. A.

Why did WILink implement a share split in May 2004? Prior to proposing the share split, the Directors had received clear indications, including from the Company’s broker, that potential investors were being deterred from investing by the low liquidity resulting from the high share price, and therefore wished to remove this disincentive to purchase the shares. The need for the split partly reflected the nearly 100% rise in the share price between when the shares were consolidated in 2002 and the announcement of the proposals in March 2004.

Q. A.

Do I still need to keep my old share certificate(s) following the share split? No. Unless your shares are held in a nominee account (in which case the details will have been amended automatically) you should have received a new certificate in June 2004. This replaces all your old certificates, which are no longer be valid or required. You should keep the new certificate in a safe place.

Q. A.

What happened to the value of my investment as a result of the share split? The value of the Company did not change as a result of the share split.  The share price decreased in the same proportion as the number of shares increased, leaving the value of your holding unchanged.

Q. A.

I had less than 8 shares, what has happened to my shareholding? The mechanism used to create the appropriate ratio of new shares to old meant it was not possible for holders of less than 8 old shares to receive any new shares. Thus, if you had less than 8 shares on 21 May 2004, you should have received a cheque equal to the market value of your entire holding, which was sold on your behalf by the Company for cash. The cheque was your share of the net sale proceeds of the aggregated residual shareholdings.

What happens if my holding is not an exact multiple of 8 shares? If your holding is not an exact multiple of 8 shares, you will receive a cheque equal to the value of the residual or fractional holdings not divisible by eight. These will be sold on shareholders’ behalf by the Company for cash based on the closing share price on 21 May 2004. The cheque you receive will be your share of the net sale proceeds of the aggregated residual shareholdings