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Re: [sharechat] Les - SMR (reply)

From:	"Les" <openmind@paradise.net.nz>
Date:	Wed, 20 Sep 2000 18:50:20 +1200

Krypt, SMR's notice to the NZSE on 08/08/2000 said that it would be selling down A$2mil of its investment into the IPO.

Strathmore's holding in Commsoft will be 14% after the IPO, sell down and buyback of SMR shares.

Post IPO CSG have about 61mil shares SMR 14% = 8,540,000. I read somewhere that they may sell more than A$2mil so this figure may be over stated. Others may be able to work this through better than me.

My earlier post suggested they may have bagged $580,000 today in actual fact it was most likely a significantly larger amount.

Plus SMR's notice yesterday said that they have cancelled 30,435,277 shares.

Even if my numbers are to high it all still adds up to a win for SMR and CSG share holders. (Thanks Eric)

Over 200,000 SMR shares through after 3pm today although the price hasn't moved I believe it can only go up and CSG looks to have some very good upside momentum, should at least double over the next few weeks.

SMR's other Investments, haven't followed them up recently but isn't one of MSN founders involved in one of them?

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