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[sharechat] Edison Mission's position with CEN - to buy or to sell?

From:	"Osbert Sun" <osbert.sun@xtra.co.nz>
Date:	Fri, 28 Apr 2000 23:04:11 +1200

In addition to the widely anticipated trading resumption in FRO, the position that Edison Mission may take in its dealing in CEN will no doubt be the market focus in the next two weeks. By 14 May Edison Mission will have to decide whether to pay up the cash required to satisfy the conditions for its issue of redeemable preference shares, which at today's closing price of $2.36 would cost Edison Mission more than $46 millions, or to make a stand in the market to push the share price above the $2.55 threshold. The later would fit in well with Edison Mission's strategy in seeking greater control of Contact Energy. The question is, as suggested by Phil Eriksen, will Edison Mission have the cash to purchase more shares in CEN? I guess time will reveal the answer to this question.

Kind regards,

Osbert Sun

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