Forum Archive Index - April 2000

[Gerry Tyler-Smith <g.tylersmith@ext.canterbury.ac.nz>]

Ord Minnet is advising its clients that GPG's buyback offer is intended to
increase  net tangible asset base of each share. Therefore, the more
shareholders take up the buyback offer, the better it will be for
shareholders who do not.

>     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.




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