Forum Archive Index - March 2002

["Damien Poppelwell" <damienp@xls.co.nz>]

Thankyou both for that, 
What do you mean by the "other" channel?
Much appreciated

Damien Poppelwell 
Point-of-Sale Specialist 
Excellent Software Ltd 
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-----Original Message-----
From: Bill [mailto:billbray@xtra.co.nz] 
Sent: Thursday, 28 February 2002 9:17 p.m.
To: sharechat@sharechat.co.nz
Subject: Re: [sharechat] ITC


 good call Derek
Most of the discussion on this company will be on the 'other' chanel. I
still hold great hopes for ITC but agree with Derek that the write downs
and the honest appraisal of the immediate future of the investments by
the new management is not great and in fact is 'risky' in the minds of
many. However, having said that, the future under the new management
will at least be honestly defined and IMHO at least 2 if not 3 of the
investments will eventually produce a very significant return.  I hope
to be there when this happens. Whether it be 3, 4,5 or 7 cents, this
company has, at the end of the line, some very talented people whom I
believe will produce the results we are looking for.

(disc: hold plenty)
----- Original Message -----
From: "Derek" <dkw@paradise.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, February 28, 2002 8:15 PM
Subject: Re: [sharechat] ITC


> >I notice that the share price trended downward from about when the 
> >new management was appointed at the end of last month, so it looks, 
> >on the face of it, as if the market wasn't happy with those 
> >appointments, and yet both of those individuals appear to have good, 
> >relevant skills & experience.
>
> The markets immediate response to the new management was very positive

> with the shareprice increasing by about 30%.
>
> This was followed almost immediately by an honest appraisal by the new

> management of the state of ITC. This sent the shareprice back down.
>
> Then came the right-downs in all but Deep Video Imaging. The are 
> concerns around that this is now their only really promising 
> investment, and even then it is still a risky one.
>
> Actually I think that if it wasn't the confidence that the market has 
> in the new management the shareprice would have gone even lower - 
> Normally investment companies trade at a discount to their NTA.
>
> My amateur estimate of the current assets goes like this
>
> Shareholders equity as at 30/09/2001  $16.5 M
>
> Rightdowns on 22/2/02  $9.7 M
>
> Current shareholders equity :$16.5 - $9.7 =  $6.8 M
>
> Number of shares:  171.5 M
>
> Current equity per share = 4 c
>
> Regards,
> Derek
>
> (disc. hold some itc and would buy more if the price fell a bit more.)
>
>
> >I'm curious, is there an underlying factor which I have overlooked? 
> >Would anyone like to suggest an explanation for this?
> >
> >Thanks
> >D
>
>
> ----------------------------------------------------------------------
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