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Re: [sharechat] GPG capital note issue

From:	"Brian Brakenridge" <brianbrak@xtra.co.nz>
Date:	Sat, 5 May 2001 08:57:30 +1200

Hello DR:

As a guy who seems to have a good understanding of GPG, how do you interpret this move. What are the implications for a long term GPG investor.

As I see it they have something like NZD200m in cash already. They obviously don't need the money to stay afloat. Are they raising another 250m because they see the present environment as offering some exceptional "value" opportunities. The move seems to contradict the "streets" interpretation that Sir Ron's business life expectancy is only 5 years although I guess he can still do a hell of a lot of damage in 5 years.

I'd be interested to hear how others see this move.

Cheers

Brian

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