Forum Archive Index - October 2000

["Malcolm Eves" <malcolm@easternasset.co.nz>]

There is some ridiculous assertions being made on this forum regarding the Fletcher deal. Of course there is still a lot of water to go through before the deal is sanctioned by shareholders. There has been so much rubbish stated about the value of FFS e.g. someone says NTA $1.70, I think without proof or comprehensive calculations as to how this was arrived at. Also, as has been touched on before, many people on this forum are looking to buy speculative stocks for penny dreadful prices which is why many prefer to believe that there is "value" in FFS because they would prefer to pay less for that share than for FEG.

The value of FEG has been there for ALL to see Capstone, the oil situation the new fields and yet it has been ignored by this forum and perhaps even decried a little.

There has been no sinister stuff from the Fletcher board from where I sit. A strong clue that FEG was the target was the deferment of the dividend!

No one has been screwed here accept by their own, perhaps unresearched opinions, and the folly of not focussing on value. The Fletcher Board and I am as far removed from them as anyone, has nothing to hide accept for not getting as strong a position for FEG as I thought they would. FEG has after all had a "value" of +$13.00 from CSFB and they are representative of the big broking house valuations.  

I would hope to see less accusing of the Fletcher Board and more analyzing why some feel they have been screwed form reviewing their own decisions. 

----- Original Message -----

From: Ted

To: sharechat@sharechat.co.nz

Sent: Tuesday, October 10, 2000 11:53 AM

Subject: [sharechat] Attention All Lawyers

Please help everyone out and put thinking caps on and come up with answers how to:

 

1. Charge Dr Death with conduct unbecoming a chairman, in that he has totally failed to look after the best interests of shareholders. (It might be in more proper wording but i'm sure there is some area he could be charged)

 

2. Charge all FLC executives with the same after asking them this question:

"Who has benefitted most from this restructuring - the small (in particular) shareholders, or the executives who would have lost their multi-hundred thousand a year salaries in a sale, and have now managed to hang on to them ?"

 

3. Insider Trading (or accessories to) ??

 

4. Anything else they can be hanged on.