Forum Archive Index - September 2000

["camelot" <camelot.cathedral@xtra.co.nz>]

To Chris,

From:Colin Herbert

I would like to help you with your communication of 18 September 2000.

Radionet was purchased by WNC for 50,000,000 shares at 5 cents per share approved by shareholders at a Special General Meeting on 28 March 2000.  I think this equates to $2.5 million.

 

Wilson Neill will not  own 60% of Radionet once the split occurs.  Indeed the Herald said that 60% of Radionet will be issued to existinf WNC shareholders.  It seems obvious to anyone that if Jump have 28% and existing shareholders have 60% then the Herald would be correct in saying that WNC will retain 12% in Radionet.  That adds up to 100%.  Infact the written script from the Herald said. 

 

    " WNC will retain a 12 % shareholding in                             Radionet.  Its shareholders will collectively be given the         balance of the shares in Radionet totalling 60 per cent."   

 

Therefore 72% to the existing owners : 28% Jump.

 

Colin Herbert

Small Shareholder 

Interested bystander.