Forum Archive Index - October 2001

["sean austin" <sean_austin01@hotmail.com>]

Brian/Bruce,

                    I,m no lawyer so I,m not sure how long these offers stand. It does seem unusual that today the share price is trading above the offer price, if it's a done deal. I wonder who sold the 5% to allow him to creep to 68%? If it was 1 of the other directors then surely this must be outside their trading window and do we have another insider trading issue here? I seem to recall a previous insider trading problem with certain PRG directors in the past-surely lightning can,t strike twice??!!! 

 As well we all remember a few years ago when Skellerup/M. Boulton tried to take over PRG the independant directors said it was worth substantially more than the bid price so that attempt failed. We then saw the shareprice drop to lows of 60c which proved how stupid the independant directors were. Bhatnagar, (major shareholder), we understand, didn't have a great relationship with the independant directors so maybe this is what influenced their decisions last time round. Hopefully this time round Mr Watson can't influence the independant directors so we dont get screwed a second time.

Hope this helps

George