Forum Archive Index - October 2001

["Ben Dutton" <bendutton@sharechat.co.nz>]

Hi there,

Chalkie also raised some points about the takeover in the NBR last week,
check out the article here:

http://www.sharechat.co.nz/news/nbr/article.php/444bbeec

You'll probably find that there hasn't been much comment because not many
people hold shares in PRG, from memory they only have a share register of
around 600 people and some of those may have already sold out when Logan
bought 5% more of PRG on market (they are allowed to do that under the
"creep" provisions of the takeover rules).

So perhaps it's inevitable that the takeover will happen.  However, this
sort of carry on does nothing for reputations of those involved, but then
again, do they actually care?

Best Regards

Ben Dutton
(Disc. do not hold PRG).


----- Original Message -----
From: "george soros" <gsourous@hotmail.com>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, October 10, 2001 9:34 AM
Subject: [sharechat] PRG,s Classic Bearhug


> Is there any reason why no postings on Logan/Watson stand in the market
for
> remainder of the company? As a long standing shareholder of this company
> could this be yet another case of oppression of the minority sharholders
> that the aforementioned have shown in the past that they are so good at?
> I,m no accountant but my high cost beanies, who have sifted through PRG,s
> creative accounting in their annual report, tell me how can a company that
> has gone from $8m to $30m in 3 years in operating earnings be only worth
> marginally more today than Logan/Watson paid for it 3 years ago? Normally
> the Pied Piper would be shouting good news like this from the rooftops,
ala
> ADV/SMR press releases of the past, but there seems to be a dearth of news
> from PRG ever since he,s  taken over. Could this also be the reason that
no
> dividends have been paid ever since he,s had the reins knowing full well
> when he owns it his hand,s are in the till and he,s kept the rewards from
> the minority shareholders who are in the cold once again!
> Some comment please!
> Disc.  Significant long term holder of this stock and going long on it as
> well.
>
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