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Re: [sharechat] RMG

From:	"Patricia Troup" <troupie@ihug.co.nz>
Date:	Sat, 9 Jun 2001 17:46:20 +1200

Why did Cooney retire so suddenly, after such bullish comments on the stocks recovery prospects following its disastrous $6m loss recently?

Someone said his stock comes out of escrow shortly.

Have a look at the balance sheet..After you take out the $50m of Goodwill(which doesn't earn RMG a cent) this company is very highly geared and desperately needs cash to restore its battered state after the $6m loss.

Option holders are being encouraged to take their options at 25 cents, with the stock price being given a bit of a tickle.

Let's hope the takeover rumours are true and or Mr Boult can quickly pull a rabbit out of the hat.

ASB Securities seem to love the stock....It's M/D seems to be big holder of the options.(DATEX book)

Interestingly, Mainland seem to have gone cold on the stock.

Any other thoughts out there?

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