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[sharechat] ITC is cashed up!

From:	"Les" <openmind@paradise.net.nz>
Date:	Wed, 20 Sep 2000 10:35:47 +1200

Just been trying to work out how cashed up ITC is at present

At Balance date 31/03/00 they had $14.5 mil cash in bank, received $9.6 mil from exo-net sale 18/08/00. Total $24.1 Mil.

There have had a number options exercised between then and now so say they cover any cash burn to date that leaves about 16.6mil options to be exercised by end of October = another $2.8 if exercised bringing the total cash on hand to $26.9 mil then.

ML report says cash burn will be eliminated with ITC management rights to China partnership so all in all things are looking very comfortable at ITC, although I'm sure some will have to disagree.

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