One thing
puzzling me is that if for each of the five years you choose
to convert the notes to shares you end up with
around 30% less shares than if
you hadnt participated.
nick
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.
See IRG research reports
