Forum Archive Index - June 2001

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

> 
> For the purpose of the exercise, let us ignore these and maintain
> the present relationship between the A and B shares. I only want to
> concentrate on the A shares, just now: There are 386 mill A shares. 
> 
> Your proposed 5:1 issue will result in the creation of another 1930
> mill shares, some 70 mill more than the recent FSS Pref. issue. 
> 
> The FFS issue was open to the whole world but the AIRVA issue will
> only be open to NZ'ers and you already know what their response will
> be: 
>
Yes, I do :-(.

Maybe a case for the government to come is as an underwriter for the 
A shares?  
>
>
Start looking for a P/E of 6-7, instead of 8.
>
> 
To be clear, I meant P/E of about 8 after all the rerstructuring was 
finished and the rights issue paid up.
>
>
> Another way is to proceed on the basis of 1 cash issue now and one
> later, say in year 3. Is that possible?
>
>
Yes, I am sure it is possible.  Given the (revised) figures, maybe 
even essential!

SNOOPY


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