Forum Archive Index - May 2000

["Ken Donelan" <kdonelan@ihug.co.nz>]

Aquaria were to get 118 million Bliss shares for the Shanghai Aquarium. They
hoped to sell these for no less than AU$0.14 each which means they should
have got around
AU$16.5 million which equates to around NZ$19.9 million at today's exchange
rates.

The sale price of US$8.325 million to Oceanis equates to NZ$17.1 million at
today's exchange rates so Aquaria will be getting around NZ$2.8 million less
than if they had sold to Bliss.

The good news is that when the cash is received from Oceanis then Aquaria
will be a clean "shell" at the end of June 2000. Had they sold to Bliss then
they would have had to go through a possibly lengthy exercise in selling off
the Bliss shares.




----- Original Message -----
From: chris <CMR64@student.canterbury.ac.nz>
To: <sharechat@sharechat.co.nz>
Sent: Tuesday, May 16, 2000 10:01 AM
Subject: Re: [sharechat] AQL: SALE OF SHANGHAI AQUARIUM


> Can anyone tell me how this deal compares to the price Bliss was going
> to pay - certainly the forecast NTA seems far inferior :(
>
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