Forum Archive Index - April 2001

["Malcolm Cameron" <malharcameron@hotmail.com>]

David if you go back on ttp a few months, the major shareholders do not want 
dividends as they would pay most of them back in tax that is why no 
dividends have been paid. this is my opinion of the meaning coming through 
in the announcements over the last few months.
Malcolm Cameron


>From: David Iles <DavidIles@chestsyd.com.au>
>Reply-To: sharechat@sharechat.co.nz
>To: "'sharechat@sharechat.co.nz'" <sharechat@sharechat.co.nz>
>Subject: [sharechat] TTP
>Date: Thu, 19 Apr 2001 13:17:29 +1000
>
>
>Posting this from Sydney so I may be behind the times on news.
>
>Last time I looked NTA of TTP was over 60c & majority shareholder was HK
>based company which is proposing the capital restructure (takeover). Given
>that the MD of TTP is also a director of the HK company I have always
>questioned his independence and who he actually represents. The non payment
>of dividends over the last few years has seen TTP shareprice depressed & 
>now
>gives the HK company a cheap takeover price. I am sure if the takeover is
>successful dividends will quickly flow to the HK company.
>
>If there is a genuine concern that no dividends are being paid to
>shareholders there are several ways this can be achieved without the
>takeover proposal. Shareholders are being asked to sell their shares at 
>half
>real value and are then expected to lend the funds to do so to the takeover
>company at 10%.
>
>Vote NO at the meeting or on proxy. Also at the AGM let someone prepare a
>motion of no faith in the directors. A sell off of the portfolio and return
>of cash would even return more cash to shareholders.
>
>Interesting article in todays Australian Financial review about AGP. Looks
>like these directors treat their shareholders the same as TTP.
>
>David Iles
>
>davidi@chestsyd.com.au
>
>
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