Forum Archive Index - February 2001

["charlie brown" <gordy_gecko@hotmail.com>]

Phyllis/Gerry

For the record I am neither a broker/associated with the NZSE or currently a 
Montana shareholder (and no I did not sell out at the time of the "power 
struggle").

My point regarding the waiving of listing rules is simple.

These rules along with associated bodies are "generally" cumbersome and slow 
moving, although necessary to preserve the status quo.  It is however 
necessary "commercially" sometimes to seek a waiver from these rules in 
order "to get the mail through".  In the past twelve months, I've applied 
for the waiving of listing rules on the ASX 6 times.  In each instance I 
have had that waiver granted (some in a quicker manner) than that given to 
Lion.

As I noted before, I would assume that in the 114 waivers granted by the 
NZSE, 99% of the waivers given would have been for mundane operational 
matters.  A number also are waivers sought on "fishing expeditions" ie 
sounding out the exchange.

The Montana "fiasco" was a power struggle and this is where the small 
punters got hurt.  It was not a case of the exchange/MSP granting an ill 
advised/thought out waiver - although I hear your cries, "this is the exact 
reason why they should have acted in the interests of the small 
shareholders".

Allied on a transaction like this should have had someone on the ground with 
the ability to counter any offer made by Lion (or delegate that authority to 
there adviser) if they were serious.  Ask yourself the hard questions - were 
they?

I care not for trivial matters of whether I write under a non de plume.

Charles


>From: "Phyllis Bergquist" <phyl@clear.net.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: Re: Re: [sharechat] BOOKS-  and Charlie Brown
>Date: Fri, 23 Feb 2001 14:36:28 +1300
>
>Charlie,
>Charlie Who????
>Perhaps a contrarian stance........??
>Did you note the alacrity with which the Asx reported that they
>did not wish to unite their much better governanced market with
>our markedly more relaxed market conditions????
>
>I would also ask you - are you a small Montana shareholder?
>If so - how do you feel about the happenings??
>
>
>----- Original Message -----
>From: charlie brown <gordy_gecko@hotmail.com>
>To: <sharechat@sharechat.co.nz>
>Sent: Friday, February 23, 2001 2:00 PM
>Subject: RE: Re: [sharechat] BOOKS- .............................Peter
>Maiden
>
>
> > LIES, DAMN LIES AND STATISTICS
> >
> > IMHO it would appear that some nicely biased "statistics" wheeled out by
>Mr
> > Preston with respect to the granting of waivers.
> >
> > Of the 114 waivers or thereabouts - I'd hedge my bets, about 99% would
> > represent waivers of cumbersome/over protective legislation/listing 
>rules
> > etc. that the average Joe Bloggs would have no idea about or would in
>anyway
> > impact on there lives.
> >
> > Although not present, Mr Preston should perhaps have delved a little 
>below
> > the surface to see exactly what the 114 waivers represented and then
> > compared the number of "material" waivers with those granted in another
> > jurisdiction.
> >
> > Disc: Am in no way linked to the NZSE
> >
> >
> > >From: "Ian Rawnsley" <ianr@ie3.co.nz>
> > >Reply-To: sharechat@sharechat.co.nz
> > >To: <sharechat@sharechat.co.nz>
> > >Subject: RE: Re: [sharechat] BOOKS- .............................Peter
> > >Maiden
> > >Date: Fri, 23 Feb 2001 13:43:17 +1300
> > >
> > >I agree with Phyllis about the excellent presentation last night by Tim
> > >Preston of ASB Securities.
> > >
> > >I seem to recall that Tim mentioned that in NZ there had been 114 
>waivers
> > >by
> > >the NZSE and in the UK there had been 1 (yes ONE) WAIVER in the same 
>time
> > >period. Food for thought eh!
> > >
> > >Ian Rawnsley
> > >   -----Original Message-----
> > >   From: owner-sharechat@sharechat.co.nz
> > >[mailto:owner-sharechat@sharechat.co.nz]On Behalf Of Phyllis Bergquist
> > >   Sent: Friday, February 23, 2001 1:21 PM
> > >   To: sharechat@sharechat.co.nz
> > >   Subject: Re: Re: [sharechat] BOOKS- 
>.............................Peter
> > >Maiden
> > >
> > >
> > >   Interestingly last evening Tim Preston of Asbsecurities who spoke
> > >excellently and clearly on all aspects
> > >   gave us a succinct rundown of the Montana saga.     I don't recall 
>the
> > >exact figures but in the matter of "waivers"
> > >   the Brits made 1 waiver and our stock exchange made an incredible
>number
> > >over the past year...
> > >   Perhaps someone else knows the number.
> > >
> >
> > 
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