Don't think I have ever sobered up so quickly in all my life !!! Would probably pass a breath test.!! Phaedrus as always thank you for the chart.
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Just a thought but maybe the whole idea is to pump up the volume of BSH thereby reducing the perceived value of Perpetual and its associated entities, de-list said stock, then place an offer that will be accepted by the (depleted) directorship.
More of a concern to shareholders (other than the bath we've taken in the last year) is the recent drop in share value, as a rumored result of major investors becoming wary of GK's motives. At what stage will this be queried?
Thanks Phaedrus. I appreciate your reply and sentiments. I do have a lot of respect for your charts, work and advice and I do look at charts for help at times. However, I do think that at times when assets are seriously undervalued or ignored it is time to go on the fundermentals. This is why I have been buying PGC @ 34/36c
Regards
Actually said this one was a dog too and will probably keep going lower, I dont expect BSH shares too save S/H from losing money on the whole deal as mentioned earlier marac got lot of fleas.
Well the Wrightson factor comes in to play given todays news.
Bull i'm like you i don't see any value left in PGC once they've off loaded their BSH shares. Though i can't bring myself to sell. I'm hoping there's some value that i'm not seeing in the Perpetual Group.
Surfersteve i think we'll get 1 BSH share for every 5 PGC shares we hold. PGC are selling a portion of the BSH shares to institutions to help fund their "future plans", whatever they may be.
If you go to post 442 on this thread,and read it,then read from there on you will find you are a lot better informed,and have a better understanding of the issues.You can then do all the calculations your-self and stop others from having to repeat the exercise for you.
lots of ifs.10,000 PGC shares today will entitle you to 2,500 to 2650 BSH shares.You will retain your holding of PGC.At present that holds realestate loans ,PGW shares,parts of perpectual trust [including Torchlight and other funds].So what are they worth,or what they are sold for will determin what value the market will put on PGC shares.At present it looks about 1.5 cents to 7cents.At present Milford were right.However, they may end up being wrong!!!????