Forum Archive Index - August 2002

["Lindley Smith" <lindleysmith@bigfoot.com>]

>
>>
>>cash issue to existing shareholders at 1/2 mkt value
>>of the entire THO holding to pay off the remiaing debt,
>>
>>
>
>Ugh, 'cash issue'.  I don't like that phrase!  The market value of
>Thistle shares is $1.43 per BIL share.  You want to raise 71c per BIL
>share to pay off 71c worth of debt?   How are you going to do that
>when the current BRY share price is only 61c?
>
I slightly misled you by using the term 'cash issue'. I couldn't, and still
can't, think of the real name for it. What I meant was to sell the THO
shares to BRY shareholders at about half price on a 1 THO for every 3 BRY
shares.

Does that make a bit more sense?

If the current execs at BRY were put out of a job by this, then I think even
more shareholders would vote for it!!!

Looks like BRY is getting plenty of other comment at the moment - let's all
get stuck into them. Maybe we can find some brass rather than just muck.



----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/