Forum Archive Index - April 2000

["Peter Robertson" <p.robertson@clear.net.nz>]

Just got in my mail this morning the buy-back offer from GPG, looks like you can nominate up to your entire shareholding & they'll give you 50 pence (around $1.57 I think it works out to), but the catch is you don't get the cash, you get some "notes" that stretch out to 2005 (you get 8% interest on them)- then you can cash them up or turn them back into shares. What is interesting is that Ron Brierley & Blake Nixon ( a director who I incidentally used to go to school with) are "not participating in the scheme"- so what I want to know is: Is this a good deal? If the idea is for the scheme to kick start the share price up, wouldn't we be better to hang on to the shares like Ron & Blake, I was hoping that one of you might enlighten me on whether to participate & if so, how much of my shareholding to participate with ( was thinking maybe 50%) Kind Regards & Happy Easter , Pete R.