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International Investing / Australia (All-Ordinaries)


Subject:  Re: TLO for Barcoo Date:  4/29/2000  10:54 PM
Author:  demiller1 Number:  1397 of 6186

>>He still has a significant interest and what really counts is the top & bottom line.<<

I agree.

Just a sidenote A company called EQL was listed on the markets having an interest in finance and the dot.comm's. It was given to me as a wonderful investment under 0.30 cents and I was aware of whom the sponsoring broker was. Nice contracts and gd income stream!

After listing and reaching a high of 0.42 cents I noticed on my analysis that the major seller on day 2 was the sponsoring broker. I though that this was weird and made a few phone calls... it appears this one managing director (and major shareholder) was the seller.

To me this was sacrilege as the major was jumping ship! Next came a notice via Etrade News that the sale by this individual was flagged in the prospectus ... it was needed to be made for the purpose of meeting capital gains tax!

My question then is which bloody year? One presumes that no CGT would have been outstanding until a CGT event occurs! The revaluation and subsequent listing was not in the prior tax year!

The share price through non support by the major shareholder has since flunked through to 1/2 of the recommendations put out by the brokers. Basically the investors have lost faith in the company. It is not a high tech company but a good cash flow company.

When this happens the retracement to past glory is slow and tedious. Long term position only!

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