Forum Archive Index - March 2003

["Shayne King" <shayne_king1@hotmail.com>]

Hi Mick, thanks for the info. Unfortunately i've already bought in so i just 
have to keep my fingers crossed. I bought in at 0.064c which isnt as bad as 
alot of people who bought in at the 0.20c mark. I've found it hard putting a 
value on these shares, and now with the departure of Jim Boult i find it 
hard to keep the faith. Net assets must be practically worthless otherwise 
at their current shareprice they could have been a prime takeover. The way i 
see it, the only thing that can bring this company out of the dumps is to 
start showing some profits.
Fingers crossed

shayne






>From: "mvanv" <mvanv@xtra.co.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: Re: [sharechat] RMG????
>Date: Wed, 26 Mar 2003 17:44:43 +1200
>
>Hi Shayne
>
>RMG is a hard one to keep up with. Personall is constantly changing.
>
>I done some work on RMG  in Dec. last year. Since then they have
>come out with another $2 m loss for the half year
>
>Net assets
>Oct.2002    0.89c/share
>Oct.2004    1.9.c/share   (if options exercised--3c/share for 328m shares)
>
>
>
>Simce Dec. Paul Cooney has resigned (one of the companies founding members)
>Cooney has a holding of 69m shares and was the acting CEO.
>Ron Logan is the new CEO (has taken up 5m options)
>
>Chairman James Boult  retires in March to be replaced by Michael Stiassny 
>who
>in recent months has taken up 12,5m shares. You may have heard of Stiassny
>before, he is the receiver for the central North Island forrest. If anyone 
>should know
>wheather a company is about to go under, Stiassny should know.
>
>
>Mr Michael Stiassny, an existing director will take up the Chairmanship on
>Mr Boult's departure. Mr Stiassny is a Senior Partner of Ferrier Hodgson in
>Auckland. He has significant experience in investigative accountancy work,
>company restructuring, due diligence and insolvency. He is a current and
>past Director of several public companies.
>
>
>If you have not already invested in this company I would suggest you wait
>until the full year results come out to see if they can at least manage to 
>break-
>even
>
>
>Mick


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