Forum Archive Index - March 2000

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

Hi Derek,

Tower have a 10% share cap. written into the company constitution.  This
means that no one person or company can own more than 10% of the company for
the first 4 years they are a listed company.  In saying that however one of
the company directors did mention to me at the pre-listing broker
presentation that if some-one (and I think he was referring to GPG at the
time) were to make a "fair and reasonable offer" for the whole company then
it might be considered.

There has been 'institutional' buying in Tower this week but on very small
volumes.  It has helped the price slightly but the shares performance
reminds me of Sovereign and it's lacklustre performance after listing and
takeover by ASB.  Tower may have done it's shareholders a dis-service by
setting a share cap.

Kind regards,

Sarah Corkill
Direct Broking




-----Original Message-----
From: Derek Watt [mailto:dkw@paradise.net.nz]
Sent: Wednesday, 1 March 2000 18:28
To: sharechat@sharechat.co.nz
Subject: [sharechat] AMP - TWR ?


Strange that after AMP announces that its got a major acquisition coming up
that towers shareprice starts heading north all of a sudden.
I can't help but speculate that TWR may be their target.

Derek

(I don't own TWR or AMP shares at the moment)


-----------------------------------
Derek Watt
http://members.tripod.com/DKWatt/
-----------------------------------




----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
To remove yourself from this list, please us the form at
http://www.sharechat.co.nz/forum.html.

----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
To remove yourself from this list, please us the form at
http://www.sharechat.co.nz/forum.html.