Forum Archive Index - May 2000

["Osbert Sun" <osbert.sun@xtra.co.nz>]

Richard,

Well-asked questions! I don't think that I can provide any info on this one.
However, I do notice that in the portfolio of Blue Horseshoe, the cash
originally reserved for the rights issue in SPE was spent instead on
purchasing ADV, RNS and ITC. So either the planned rights issue may abort or
DFM has lost confidence on the future of SPE. Something to think about...

Kind regards,
Osbert Sun

----- Original Message -----
From: "Richard Moyle" <Richard.Moyle@genfys.slu.se>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, May 04, 2000 4:21 PM
Subject: Re: [sharechat] SPE


> Yes I am a little confused about this too. And I find the lack of
> clarification or announcements from SPE management in general, while the
> share price slides, to be appalling. There last announcement was vague, it
> included that John O'hara would not be CEO of SPE after all, but that he
> would help out and be consulted on matters concerning software
acquisitions
> or something like that. At the time I took it as meaning that there where
> some troubles in the board room but it sounded to me like the WEL
technology
> transaction would go ahead. But another fellow in another trading forum
> sounded dead sure that the WEL technology transaction was dead. Confusion
> there for sure.
> They also said a shareholder meeting to approve change of business
direction
> would be held in May. When are they going to announce the date for this
> meeting and the agenda? Such an announcement would surely revive
confidence
> and price in this stock given that it has been heavily touted as a winner
> this year by the likes of DFmainland, and that the price was in the 40's
> after they announced the change in direction, WEL technology acquisition
and
> the following rights and bonus option issue. A long waiting period until
> something happens, uncertainty over their change of direction and of
course
> the general lambasting of tech stocks lately has compounded the poor
> performance of SPE recently (was trading down at 10 this afternoon -
> unbelievable!). Can anyone give us some accurate information?
> Come on SPE, look after your shareholders!
> --



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