Forum Archive Index - September 2000

[Ramin Farokhi <susanf@es.co.nz>]

I have read with interest a number of messages from Mr Ian Andrews over
recent times and I think the time has come that I can no longer suppress my
opinion and views on Mr Andrews comments.

I was the inaugural employee of WNC when it began its activities in 1996 and
like many staff I embraced the desire and vision of TJ Mason, M Acklin and P
Cooper to endeavour to take WNC with zero shareholders funds at the time to
something worthwhile for shareholders and staff in the future.

The company may have had 12000 shareholders but in reality it had no value
and only the view that value could be created if staff and Directors focused
on growing the company from this capital base.

Mr Herbert was asked to assist and assist he did.

I do not consider that anything contained in this communication is
privileged as it has been well canvassed in the media and company reports.
Nor should it be considered as some forum of sending comfort messages to
readers of sharechat.  It is simply intended to have Mr Andrews understand
that WNC has employees who are vitally interested in the future and I belive
have supported the directors and shareholders with a great deal of conviction.

Speaking for virtually all the staff I can say we are proud to have taken
the company from zero shareholder funds to about $7.5 million in a little
over 2 years and converted zero profit to $1450000 before extraordinaries in
the same time period.

Personally I only own a modest amount of shares but I am pleased with my
more than 10 fold gain at this early stage.  Mr Andrews may perceive this in
some way to represent inside knowledge but in fact it was due to my
confidence that the people involved in WNC would get the decisions right and
the staff would deliver the results.

After all that was about the same price as Mr Andrews paid on average and he
departed on an +800% gain.

Apart from what I have read in the newspaper I know nothing about Jump
Capital but common sence tells me that "Wireless is the way of the future"
and Raidionet is undoubtedly at forfront of Wireless technology and has an
excellent market share.

Against a background of Mr Andrews berating the company and giving it bad
press it is good to see him buying shares in the last 30days!! Perhaps Ian
should not have sold so many shares earlier. Just as well the company is not
main board listed because I suspect "tipping the market" actively and taking
advantage of the market may well also contravene the Securities Commission
regulations under the Insider Trading Regulations.

Onwards and Upwards

Ramin Farokhi
smaller shareholder
dedicated staff member


----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
http://www.netbroker.co.nz/        Trade on Credit, Low Brokerage. Join now.
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.