Forum Archive Index - February 2001

["Ian Andrews" <iandrews@i4free.co.nz>]

Replying to Charlie Brown.

After further thought, its become clear to me WNC would likely have delivered a share price  more like 10 cents( with minimal debt instead of $8 million )  if it had only concentrated on the Cobb & Co rollout since 1998, rather than Radionet.

The Company is still salvageable, but I think this depends on the departure of TM & DG forthwith, with a review of consultants' contracts also ( i.e. before the Special General Meeting to deal with IT Media ), so that a new team with more interest in modern Corporate Governance may take control.

The new team may need to review the history & consider whether they need to take action on behalf of the Company.

 

Since April, our holding may have been only 2498 shares, but our overall interest in NZ equities is significant. The purpose of following through on what we began with WNC is to help in a small way to make the markets a less risky place in which to invest for the non-insider. Ergo, higher risk-adjusted returns for all.

 

I expect this to be successful in the end because shareholder revolts are now breaking out all over & the government is taking a close interest (believe it or not)