Forum Archive Index - May 2001

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

Andrew
Just my thoughts but as i have quite a large holding I wiil sell some that I 
bought with the thought of the dividend and a nice quick gain if they hit 
$3.25.IMHO anybody who sells at less is a mug especially after one broker 
tried to talk them down after the anouncment. i wonder if they are the 
broker for EME? or maybe it's my devious mind
Malcolm


>From: "Andrew Smith" <smith5@free.net.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: Re: [sharechat] CEN Appraisal Report
>Date: Thu, 17 May 2001 15:25:50 +1200
>
>Recieved in mail & just finished reading. A very compehensive coverage of 
>the power industy of NZ. well worth the read if you are interested in where 
>Contact fits within it. My personal feelings are, as a long term invester, 
>CEN is worth holding onto. This is based on
>
>1.CEN mix of fuel sources and geographic locations means that CEN is 
>strategically well placed to react to the various fuel and weather 
>scenarios, compared to its compeditors. In particular CEN enjoys less 
>exposure to dry-year hydro risk than its principle compeditors Meridian & 
>Mighty River. (Page 14)
>
>2. CEN has a 24% share of the Wholesale market by generation but sells 60% 
>to its own retail customers leaving the abilty to sell the other 40% to the 
>spot market which has resulted in record revenue levels for April. (page 
>16)
>
>3. Currenty 36% of the shares are held my minory share holders.(Page 25) I 
>expect this figure to reduce after CEN purchase the 7-8% they require and 
>hopefully there will be a situation similar to Trustpower, shortage of 
>script, resulting in higher share price. (my own ramblings based on info 
>page 32).
>
>4. Good Dividend.
>
>Andrew
>

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