Forum Archive Index - November 2000

["Steve Moxham" <stevemox@e3.net.nz>]

Thanks for your comments Joe.

 

"Do you believe all the rubbish that the company tells you? I will be one to be very surprise to see them meet their forecast profit of $5.0M."

 

No, certainly not, but it does give you something of an indication as to where they're at.       

 

"As for the placement of $45m?? What a joke !! Lets see.... 56m shares @ .18 cents
is worth $9.9 million. So how does one place $45m when the firm is only worth $9.9m??
I am not a research analyst, but you dont have to be a rocket scientist to work that out."

 

As I understand it the placement is for shares in "esavoy", not Savoy itself. This means that there will be no change to the 56m issued shares in SVY.

 

"Who are they going to place those shares to and at what price? Who in their right mind will take up the shares when the firms MD has been declared bankrupted? I understand that the NTA of SVY is valued at just over 10 cents."

 

I believe they will be making an announcement about the placement shortly.

rgds

Steve