Forum Archive Index - January 2000

["Chris Goodwin" <chris.goodwin@clear.net.nz>]

----- Original Message -----
From: Brien <bc@wave.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Tuesday, December 07, 1999 4:30 PM
Subject: RE: [sharechat] itc announcement


> No one ever went broke by taking a profit
>
>
>
> -----Original Message-----
> From: owner-sharechat@sharechat.co.nz
> [mailto:owner-sharechat@sharechat.co.nz]On Behalf Of Adam Rands
> Sent: Tuesday, 7 December 1999 14:52
> To: sharechat@sharechat.co.nz
> Subject: [sharechat] itc announcement
>
>
> some people would call it gambling.. ITC call it investments..
>
>
>
> ITP - ASX Company Announcement
> $jtv1 THIS IS A PRIORITY ITEM
> 7 December 1999
> Part 1/1
> --------
> IT CAPITAL LIMITED
> ------------------
>
> HOMEX - Perth
> -------------------------
> 129% Investment success wiht BMCMedia.com Limited
>
> SHARP INVESTMENT IN E-COMMERCE IPO RETURNS 129% TO IT CAPITAL
> IT Capital Ltd (NZSE:ITC) today announced that it has exited an
> investment made on 23 November 1999 in BMCMedia.com's IPO providing
> substantial returns.
>
> IT Capital Ltd sub-underwrote the BMCMedia.com IPO and invested AUD
> $250,000.00 receiving 500,000 BMCMedia.com shares at an issue price
> of AUD$0.50.
>
> IT Capital also received a placement commission of 2.75% for the
> sub-underwrite receiving AUD $34,375.00 making the net cost of the
> investment AUD $215,625.00.
>
> On December 3 BMCMedia.com floated and on December 6 1999 IT Capital
> partly exited BMCMedia.com by selling 400,000 shares at a weighted
> average price of AUD $1.23. After deducting IT Capitals commission
> the return is AUD $277,392.00 which equates to 129%. IT Capital have
> retained 100,000 snares in BMCMedia.com as it is a developing market
> segment that they wish to pursue and it gives IT Capital a retained
> investment which is good for further growth into this rapidly
> expanding market.
>
> "Following on from our success in Tunes.com this performance proves
> our ability to identify leading internet stocks and to exit them
> successfully" says Keith Phillips, Managing Director of IT Capital
> Limited.
>
> IT Capital is a leading Australasian "Venture Catalyst" in the
> business-to-business e-commerce market.
>
> More information on IT Capital Limited is available at
> http://www.Itcapital.net
>
> ends - AAP
>
>
>
>
>
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