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Re: [sharechat] CBD Energy (ASX::CBD)

From: "Cristine Kerr" <criskerr@optusnet.com.au>
Date: Fri, 4 Jun 2004 15:15:48 +1000

Hi Allan,
 
I phoned earlier today. ASIC advised it will be a couple of days before we find out their perspective.
 
I have sent them the additional info.
 
Regards,
Cris
----- Original Message -----
Sent: Friday, June 04, 2004 2:50 PM
Subject: Re: [sharechat] CBD Energy (ASX::CBD)


Way to go CHRIS.  Please forward this information to the same authorities we sent our complaint form to, so they may investigate this new information.

Go Cris.

Allan




 --- On Thu 06/03, Cristine Kerr < criskerr@optusnet.com.au > wrote:
From: Cristine Kerr [mailto: criskerr@optusnet.com.au]
To: sharechat@sharechat.co.nz
Date: Fri, 4 Jun 2004 12:43:53 +1000
Subject: Re: [sharechat]  CBD Energy (ASX::CBD)

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<DIV>
<DIV><FONT face=Arial size=2>
<DIV><FONT face=Arial size=2>CBD announcement dated 31 May 2004
states:</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>11,650,002 shares were issued which raised
$4,600,000.</FONT></DIV>
<DIV><FONT face=Arial size=2>A portion of these shares were issued at 55c and
the balance at a lower price.</FONT></DIV>
<DIV><FONT face=Arial size=2>All investors that participated in the raising paid
the same average price per share namely 40c.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>_________________________________________________</FONT></DIV></FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>ASX Announcement by CBD today 4.6.04:</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Change in substantial holding for:</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>Warczak Enterprises Pty Ltd (Michael Warczak,
Director)</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Previous Holding - 2,353,051 - 5.8%<BR>Present
Holding - 6,360,000 - 12%</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>Details:<BR>Increase of
4,006,949<BR>3.6.04 puchase 4,000,000 for $1,000,000 = 25c
each<BR>27.5.04 purchase 6,949 for $3,405 = 48.9c each</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>This represents approx 34.4% of the new shares
issued. Don't know what happened to the rest.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>_________________________________________________</FONT></DIV>
<DIV> </DIV>
<DIV>
<DIV><FONT face=Arial size=2></FONT></DIV></DIV>
<DIV><FONT face=Arial size=2>Refer CBD announcement dated 31 May 2004 - Change
in Director Interests:</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>Nicholas Michael Kephala (Larnaca Investments Pty
Ltd) purchased 7,500,000 for $3,000,000 = 40c each (off-market trade)<BR>Gerry
McGowan (TRW Holdings Pty Ltd) purchased 6,000,000 for $1,500,000 = 25c each
(off-market trade) </FONT><FONT face=Arial size=2>Gerry McGowan had nil
holdings at time of accepting Non-Exec role and as at April 5,
2004</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>NB Both of these transactions were off-market
trades and not directly linked to the share offer.</FONT></DIV>
<DIV><FONT face=Arial></FONT> </DIV>
<DIV><FONT face=Arial size=2><FONT size=3>I wonder if the person who sold the
shares to the Non-Exec Directors participated in the share
offer?</FONT></FONT></DIV><FONT face=Arial size=2><FONT
size=3></FONT></FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>
<HR>
</DIV>
<DIV><BR></DIV></FONT>
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
  <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
  <A title="criskerr@optusnet.com.au"
  href="mailto:criskerr@optusnet.com.au">Cristine Kerr</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>To:</B> <A title="sharechat@sharechat.co.nz"
  href="mailto:sharechat@sharechat.co.nz">sharechat@sharechat.co.nz</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>Sent:</B> Thursday, June 03, 2004 4:31
  PM</DIV>
  <DIV style="FONT: 10pt arial"><B>Subject:</B> Re: [sharechat] CBD Energy
  (ASX::CBD)</DIV>
  <DIV><BR></DIV>
  <DIV>No satisfaction in CBD response.<BR><BR>Am investigating my
  options.<BR><BR>If you have been afftected, the first step is an official
  complaint to ASIC which can be done online at:<BR><BR><A
  href="http://www.asic.gov.au/asic/asic.nsf/byhea...le?openDocument"
  target=_blank><FONT
  color=#000000>http://www.asic.gov.au/asic/asic.nsf/byhea...le?openDocument</FONT></A><BR><BR>Click
  on the link in the right hand menu <U>Complaining About Companies and
  People</U>. <BR><BR>The link opens an online complaint
  fom.<BR><BR>Regards,<BR>Cris</DIV>
  <BLOCKQUOTE dir=ltr
  style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
    <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
    <DIV
    style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
    <A title="criskerr@optusnet.com.au"
    href="mailto:criskerr@optusnet.com.au">Cristine Kerr</A> </DIV>
    <DIV style="FONT: 10pt arial"><B>To:</B> <A title="sharechat@sharechat.co.nz"
    href="mailto:sharechat@sharechat.co.nz">sharechat@sharechat.co.nz</A> </DIV>
    <DIV style="FONT: 10pt arial"><B>Sent:</B> Tuesday, June 01, 2004 1:04
    PM</DIV>
    <DIV style="FONT: 10pt arial"><B>Subject:</B> Re: [sharechat] Calling Cris
    re: CBD</DIV>
    <DIV><BR></DIV>
    <DIV><FONT face=Arial size=2>Update For Fellow CBD
Shareholders,</FONT></DIV>
    <DIV> </DIV>
    <DIV><FONT face=Arial size=2>As CBD did not honour their commitment
    of<BR><STRONG>' ... and in any event, not less than $0.011 per share. ...
    '</STRONG><BR>I have raised my concern verbally and followed up in
    writing.<BR>A copy of my email to CBD follows for your info.</FONT></DIV>
    <DIV><FONT face=Arial size=2>I believe Allan has also sent an
    email.</FONT></DIV>
    <DIV> </DIV>
    <DIV><FONT face=Arial size=2>Regards,<BR>Cris</FONT></DIV>
    <DIV> </DIV>
    <DIV><FONT face=Arial size=2>
    <HR>
    </FONT></DIV>
    <DIV> </DIV>
    <DIV><FONT face=Arial size=2>Re: Shareholders and Recent Share
    Offer</FONT></DIV>
    <DIV> </DIV>
    <DIV><FONT face=Arial size=2>As a follow-up to my phone call, and as a
    shareholder, I wish to register my disappointment regarding the conduct of
    the recent share offer.<BR> <BR>In particular; a contradiction still
    exists between CBD's commitment to shareholders, and what has since
    transpired.<BR> <BR>Specifically;<BR> <BR>1) 13.4.04 CBD Energy
    announced an Extraordinary General Meeting. Included with this announcement
    was an Explanatory Memorandum. Item 1: Approval to Issue Shares included
    sub-clause 1.2(c) which stated ' ... and in any event, not less than $0.011
    per share. ... ' (NB $0.011 pre-consolidation equates to $0.55
    post-consolidation.)<BR> <BR>2) 27.5.04 CBD Energy announced the result
    of the Capital Raising, and stated that $4.66 million had been raised ' ...
    at an average of 40 cents per share. ... '<BR> <BR>The issue of shares
    at 40c contradicts the commitment announced to market on
    13.4.04.<BR> <BR>As a shareholder, I was placed at a disadvantage
    through giving credit to CBD's commitment. If this commitment had not been
    made, I would have sold my shares then repurchased at a cheaper rate, i.e.;
    under 55c.<BR> <BR>I believe CBD owe their shareholders an explanation,
    plus an offer of recompense in good faith.<BR> <BR>Personally, I would
    like to see an offer of recompense through the issue of free options or
    shares. Number to be issued should be determined at 27% of shareholding as
    at the 27.5.04 announcement release date. 27% is the same discount that was
    provided in the recent share offer (.55 to .40). NB Exercise price of
    options should be reasonably priced around 57c with an extended expiry date
    of March 2008.<BR> <BR>I look forward to your early reply,</FONT></DIV>
    <DIV><FONT face=Arial size=2></FONT> </DIV>
    <DIV><FONT face=Arial size=2>
    <HR>
    </FONT></DIV>
    <BLOCKQUOTE dir=ltr
    style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
      <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
      <DIV
      style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
      <A title="criskerr@optusnet.com.au"
      href="mailto:criskerr@optusnet.com.au">Cristine Kerr</A> </DIV>
      <DIV style="FONT: 10pt arial"><B>To:</B> <A
      title=sharechat@sharechat.co.nz
      href="mailto:sharechat@sharechat.co.nz">sharechat@sharechat.co.nz</A>
      </DIV>
      <DIV style="FONT: 10pt arial"><B>Sent:</B> Friday, May 28, 2004 3:16
      PM</DIV>
      <DIV style="FONT: 10pt arial"><B>Subject:</B> Re: [sharechat] Calling Cris
      re: CBD</DIV>
      <DIV><BR></DIV>
      <DIV><FONT face=Arial size=2>Hi Allan,</FONT></DIV>
      <DIV>
      <DIV><FONT face=Arial size=2></FONT> </DIV>
      <DIV><FONT face=Arial size=2>I received a call from Company Secretary,
      this afternoon.</FONT></DIV>
      <DIV><FONT face=Arial size=2></FONT> </DIV>
      <DIV><FONT face=Arial size=2>I expressed both my disappointment and
      my desire for an <U>explanation plus recompense</U>.</FONT></DIV>
      <DIV><FONT face=Arial size=2></FONT> </DIV>
      <DIV><FONT face=Arial size=2>I committed to put it all in writing.
      </FONT><FONT face=Arial size=2>Happy for you to review my letter and
      add your thoughts before I send. (</FONT><FONT face=Arial size=2>PS Under
      the circumstances I felt it best to send direct to you. Hope that's
      OK.)</FONT></DIV>
      <DIV><FONT face=Arial size=2></FONT> </DIV>
      <DIV><FONT face=Arial size=2>Regards,</FONT></DIV>
      <DIV><FONT face=Arial size=2>Cris</FONT></DIV></DIV>
      <BLOCKQUOTE
      style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
        <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
        <DIV
        style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
        <A title="ajp7079@excite.com" href="mailto:ajp7079@excite.com">Allan
        Potts</A> </DIV>
        <DIV style="FONT: 10pt arial"><B>To:</B> <A
        title=sharechat@sharechat.co.nz
        href="mailto:sharechat@sharechat.co.nz">sharechat@sharechat.co.nz</A>
        </DIV>
        <DIV style="FONT: 10pt arial"><B>Sent:</B> Friday, May 28, 2004 1:50
        PM</DIV>
        <DIV style="FONT: 10pt arial"><B>Subject:</B> Re: [sharechat] Calling
        Cris re: CBD</DIV>
        <DIV><BR></DIV><BR>Hi Cris,------Many thanks.---Would you kindly forward
        the CEO's email address to me.----I'd like to put my .02 worth in
        to the upcoming (I hope) battle.---The email address of the Aussie
        exchange would also be helpful.---Watch out Lazy Haggis our next nuke
        target maybe the Aussie exchange watchdogs if this is not
        remiedied. China will have to wait for a more important time I'm
        afraid.---------------Love to you Cris, you're
        great.-----------Allan<BR><BR><BR><BR><BR> --- On Thu 05/27,
        Cristine Kerr < <A
        href="mailto:criskerr@optusnet.com.au">criskerr@optusnet.com.au</A> >
        wrote:<BR>From: Cristine Kerr [mailto: <A
        href="mailto:criskerr@optusnet.com.au">criskerr@optusnet.com.au</A>]<BR>To:
        <A
        href="mailto:sharechat@sharechat.co.nz">sharechat@sharechat.co.nz</A><BR>Date:
        Fri, 28 May 2004 11:07:13 +1000<BR>Subject: Re: [sharechat] Calling Cris
        re: CBD<BR><BR><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0
        Transitional//EN"><BR><HTML><HEAD><BR><META
        http-equiv=Content-Type content="text/html;
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        name=GENERATOR><BR><STYLE></STYLE><BR></HEAD><BR><BODY
        bgColor=#ffffff><BR><DIV><FONT face=Arial size=2>Hi
        Allan,</FONT></DIV><BR><DIV><FONT face=Arial
        size=2></FONT> </DIV><BR><DIV><FONT face=Arial
        size=2>That's totally correct. It is in print as Item 2.1 <BR>(c)
        within the explanatory memorandum of Extraordinary General Meeting -
        <BR>notice announced 13.4.04. This is the information shareholders voted
        on and <BR>means that the shares should have been sold at a minimum of
        .011 (pre) or 55c
        <BR>(post).</FONT></DIV><BR><DIV><FONT face=Arial
        size=2></FONT> </DIV><BR><DIV><FONT face=Arial
        size=2>I left a message on the Chairman's mobile yesterday <BR>re
        same and am awaiting a response. Will be following up
        today.</FONT></DIV><BR><DIV><FONT face=Arial
        size=2></FONT> </DIV><BR><DIV><FONT face=Arial
        size=2>I will be asking for an official ASX notice to <BR>clarify
        same.</FONT></DIV><BR><DIV><FONT face=Arial
        size=2></FONT> </DIV><BR><DIV><FONT face=Arial
        size=2>Regards,</FONT></DIV><BR><DIV><FONT
        face=Arial size=2>Cris</FONT></DIV><BR><BLOCKQUOTE
        <BR>style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px;
        BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"><BR> <DIV
        style="FONT: 10pt arial">----- Original Message -----
        </DIV><BR> <DIV <BR> style="BACKGROUND: #e4e4e4;
        FONT: 10pt arial; font-color: black"><B>From:</B>
        <BR> <A title="<A
        href="mailto:ajp7079@excite.com">ajp7079@excite.com</A>" href="<A
        href='mailto:ajp7079@excite.com">Allan'>mailto:ajp7079@excite.com">Allan</A>
        Potts</A> <BR> </DIV><BR> <DIV style="FONT:
        10pt arial"><B>To:</B> <A title="<A
        href="mailto:sharechat@sharechat.co.nz">sharechat@sharechat.co.nz</A>"
        <BR> href="<A
        href='mailto:sharechat@sharechat.co.nz">sharechat@sharechat.co.nz</A'>mailto:sharechat@sharechat.co.nz">sharechat@sharechat.co.nz</A</A>>
        </DIV><BR> <DIV style="FONT: 10pt
        arial"><B>Sent:</B> Friday, May 28, 2004 9:17
        AM</DIV><BR> <DIV style="FONT: 10pt
        arial"><B>Subject:</B> [sharechat] Calling Cris re:
        <BR> CBD</DIV><BR>
        <DIV><BR></DIV><BR>Hi
        Cris,<BR><BR>As our undisputed expert on CBD, I'm <BR>
        wondering if you can clear up something in my foggy mind. It seems to me
        <BR> that I read (not very long ago) that CBD was going to raise
        capital at the <BR> average market rate of a certain 5 market
        days, but IN ANY EVENT, NOT LESS <BR> THAN .011/share, which in
        today's terms would be .55. Am I correct in <BR> this or have I
        missed something? If I'm correct, how is it that they <BR> just
        sold shares at .40???? Mind you, I'm not saying that you have any
        <BR> part in this, but I figured that you would be on top of
        whatever <BR> happened.<BR><BR>Allan <BR>
        <BR><BR><BR><BR><BR>_______________________________________________<BR>Join
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