Forum Archive Index - August 2000

["Brian Jones" <ibbij@hotmail.com>]

Why would or should WNC list on the NZSE if they have the opportunity to 
list elsewhere? The NZSE will eventually become irrelevant(and it is well on 
the way now-even the ASX is showing an unremarkable disinterest)so why go to 
the expense of listing here?
I hold WNC shares and have seen this company rise from literally nothing to 
a market cap of about $50mil.The original Wilson Neill Limited was about to 
go out of existence and it was only action by Trevor Mason and some very 
brave investors that saw the new Wilson Neill
Corporation come into existence and grow. I had shares in the origional 
company and would have lost my investment if this had not happened.
The return on investment made at or around the time of reconstruction  has 
been superb and the brave investors of that time-some paying more for a cash 
issue than they could have bought the shares for on the market,to support 
the company(I wasn't one of them)- have been extremely well rewarded and 
rightly so.
WNC is listed on the secondary market and investors realise
(don't they?),that all this does is provide a convenient means of 
transferring shares at something like a market price. It does, and provides, 
very little else. Shares listed here need to be treated with great caution.
If investors have made a profit on WNC and are still digruntled,sell out and 
move on.If considering an investment, be careful and cautious.
The origional Wilson Neill had Colin Herbert involved and he has connections 
with the new company.
I have no connection with the company apart from  shareholder interests and 
would expect the board and management to keep the loyalty and support of 
their shareholders in mind as they continue to grow, restructure, and list 
the company somewhere other than the New Zealand secondary market. I am not 
holding my breath, and consider this investment as speculative with many and 
various risks.I do however believe that these risks  will lessen as time 
goes by.
Regards

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