Forum Archive Index - July 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

John,

 

RBC can start with the buyback on August 1. I can't see much movement till then.

 

You may recall that we did run a short quiz about a fortnight ago. The general consensus was that RBC could reach 85 cents at the end of September accepting that the CNIF Receiver would not make an Announcement.

 

Michael and I thought that 80 cents would be closer to the mark: See my post of 17 July, 2001, time 14.01.

 

A newspaper report later on quoted the Receiver as saying that he hoped to have the CNIF sale wrapped up before the end of the year.

 

If this is true, than RBC may not necessarily take urgency and try to buyback as many shares as they can for 79-80 cents.

 

They may be assisted by deteriorating markets or by large holders willing to quit at up to 80 cents.

 

I am a longer term investor and consider the buyback as a curtain raiser only.

 

What the final outcome will be for FFS is far more important, I think; what do others believe?

 

Gerry