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[sharechat] TEL Share Placement

From:	"Mark Hubbard" <mhubbard@es.co.nz>
Date:	Wed, 23 May 2001 11:11:35 +1200

Call me stupid, but if your company shares were trading at $5.92 at the
start of the day, as TEL was this morning, then why would you issue a new
swag of shares at $5.50? Surely, this could only have one affect on the
share price - downward. Thus, TEL down $0.29 already today. Also, isn't this
a particularly bad time to be issuing shares?

(Not as bad though as CGB who issued shares at A$1.00 less than a year ago,
and then did a 'forced' capital raising last month, issuing shares at $0.05
!!!)

Disc. Don't hold TEL (building the house, afterall), do hold a few CGB
( (Twas a punt, but still hurts a little).


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