Forum Archive Index - November 2000

[Sarah Corkill <sarahcorkill@yahoo.com>]

Hi Frank,

I certainly am aware of the Appraisal Report requirement - I also remember
the Whitcoulls/Rank takeover when after reaching the 90% theshold for
compulsory acquisition it took several Appraisal Reports for GPG to be
happy with the price they would agree to sell their shares at.  GPG had
the means and the indepth understanding of the way the system works to get
the maximum value out of their holding - how many SEU shareholders will be
in their position?

In cases like SEU how can you get a fair value for a company that is
currently cash and a tiny holding in Viacom but has been talking with
several potential investments for at least the last 6 months?  How much
potential value could there be considering how much time, effort and
shareholders cash have been spent in discussions already.  If an
announcement were made today about what SEU want to buy what would the
market think these shares were worth?  Would the company's past record for
increasing shareholder wealth and the amount of time that has gone into
considering the company's next investment mean that investors would value
the company about the NTA?

Regards,

Sarah

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