Forum Archive Index - January 2000

[Sarah Corkill <Sarah.Corkill@directbroking.co.nz>]

Brief summary of Dominion article:

 

Heavy trading in SVY shows no sign of abating.  The volume of shares traded since 05/01/2000 has hit 32m including 2.6m yesterday.  Savoy chief executive Kerry Haycock can't explain the recent interest.  He said the NZSE had asked him last week if he knew of any reason for the burst.  He could think of nother in particular that would stimulate such a run.  He said one borker had told him that there had been a re-rating of the stock with plans by SVY to bring a $100m lawsuit against Auckland City Council for costs and compensation for loss of profits because the council had pulled the plug on the $164m Britomart terminal.  SVY was one of the main developers and has spent more than $10m on it.  Mr Haycock said the action was expected to be filed in March.

He said there had been rumours since shortly after Christmas that SVY subsidiary SVY Technologies was about to announce a deal.  SVY Technologies has been pursuing opportunities in NZ in association with Ericsson Group, particularly in the urban and mobile communications sectors.  Mr Haycock said those developments were ongoing but there was no announcement in the wings.

He thought investors might have had a change of heart about the stock since it announced last week that it was exiting DBN and selling its 11.74m shares for almost $3m.  Since that announcement the shares have risen from 6c to 8.5c at the close of trade yesterday.............

 

There you go Ben.

 

Regards,

Sarah Corkill
Direct Broking

-----Original Message-----
From: Ben Dutton [mailto:bendutton@sharechat.co.nz]
Sent: Tuesday, 25 January 2000 07:54
To: sharechat@sharechat.co.nz
Subject: Re: [sharechat] Help with Savoy?

Andrew,

 

For those of us on the forum without access to the Dominion (and because they aren't on the web...) could you provide a brief summary?

 

Thanks

 

Benjamin Dutton

----- Original Message -----

From: ahf

To: sharechat@sharechat.co.nz

Sent: Tuesday, January 25, 2000 7:46 AM

Subject: Re: [sharechat] Help with Savoy?

There is good article in this mornings "Dominion" newspaper on Savoy. Interesting reading?