Forum Archive Index - May 2002

[Chris Watson <Chris.Watson@computerland.co.nz>]

UIL have a large investment in AU:ERG which itself has been hammered over
the past few months.  On a positive note, the Directors have initiated a
buyback of almost 300k shares, so there is some self-belief there, but they
seem to be the only people buying.  They are in on the bid at 60c and 63c.
Very little interest from elsewhere it seems.  ERG had an unexplained spike
of over 20% last week to 30c but has since dropped back to 24.5 today.
Until ERG's price rises again proper, expect UIL to track sideways.

CW

Discl: small parcel on Hold.

-----Original Message-----
From: John Wedde [mailto:John.Wedde@weltec.ac.nz]
Sent: Monday, 13 May 2002 11:51 a.m.
To: sharechat@sharechat.co.nz
Subject: [sharechat] UIL


Why has this company recently been hammered by the market?
They appear perhaps to be cashed up and looking for further investment.
Is their present lack of direction / focus the cause of the low share
price?
Dominion quote their PE this morning at 0.4! ---- and Price/NTA at
0.62.
Value here?
Cheers,
John

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