Forum Archive Index - August 2000

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

IHUG have twice tried to "go public", firstly with SKY and then with Force, but on both occasions had difficulty in agreeing terms with their prospective suitors and the deals fell over. They still want to go public but can't afford for a third deal to go sour on them. Accordingly a merger is off the agenda and they are therefore restricted to either arranging a new listing or negotiating a reverse takeover with an existing listed Company.

 

A new listing is a long-winded, expensive and revealing exercise so entry through the back door would now be their method of choice. So who can they shack up with? The obvious choice is Aquaria, as once they have sold their Shanghai aquarium and repaid the convertible note holders they will have no liabilities - and their only assets will be some office furniture and possibly a few dollars in the bank.

 

Don't expect IHUG to make any public move until they are absolutely certain that the Shanghai aquarium has gone so there probably won't be any action until October.

 

 

Disclosure: I am an Aquaria shareholder - and an IHUG subscriber!