Forum Archive Index - February 2000

[Glen Whiteman <quality.res.ltd@xtra.co.nz>]

Hi Ritchie, good morning,
The `bliss' thing is noise (in my opinion). The real asset is Eclipse,
which is part-owned by AIE. They are proposing to list this coy soon to
much fanfare. This has been driving the share price of AIE in Oz, I
bought @ 0.34 and sold @ 0.48 in a matter of days in the last two weeks.
Price is now over 50c. AIE s/hers will get access to `Eclipse' listing.
Eclipse is a very successful web design firm with the `corporates' in
OZ. Now I am testing my tired brain for the details.
Anyway - is AQL going to be part of this?

ritchie marr wrote:
> 
> Interesting what you find when you go looking. Now I remember back when the
> rights issue was being looked at, that the assets of Oceanis and Aql were of
> the same value. That is a rights issue would buy the assets of Oceanis but
> the asset valuation would remain the same at 32c per share fair value, as
> deemed by Dfmainland. Maybe I am missing something, but...
> Why was Oceanis sold the Korean Assets when it simply turned around and sold
> them to Bliss (as proposed). Why could we have not sold the asset to Bliss
> Directly thereby increasing our share of the Bliss issued shares. Why if we
> were around the same in value do we end up with slightly more than half of
> the Bliss shares.?
> 
> I'll Sleep on it and pick it up in the morning.
> Ritchie
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