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| From: | "Oliver Shapleski" <oliver.shapleski@vuw.ac.nz> | 
| Date: | Tue, 2 May 2000 20:32:11 +1200 | 
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 Someone raised an interesting point on one of the 
boards - that before any mention of e-commerce transitions, the company was 
trading b/w 14-20c.  From memory some brokers were suggesting 27c as "fair 
value" before any suggestion of an e-commerce make-over.   
If the sale of the Shanghai aquarium doesn't 
proceed, why shouldn't AQL be back around 14c?  Have there been changed 
circumstances in the performance of the aquariums, or does the current price 
reflect a perception that AQL will be cashed up? (given a general consensus that 
NTA=4c, is the current price of just under 8 going to keep fading towards 
4?) 
Oliver 
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