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From: | "tennyson@caverock.net.nz" <tennyson@caverock.net.nz> |
Date: | Fri, 1 Jun 2001 15:19:46 +0000 |
> > 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 --------------------------------- Message sent by Snoopy e-mail tennyson@caverock.net.nz on Pegasus Mail version 2.55 ---------------------------------- "You can tell me I'm wrong twice, but that still only makes me wrong once." ---------------------------------------------------------------------------- http://www.sharechat.co.nz/ New Zealand's home for market investors ---------------------------------------------------------------------------- To remove yourself from this list, please use the form at http://www.sharechat.co.nz/forum.shtml.
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