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[sharechat] SUB - non-renounceable rights issue

From: "Michael Phillips" <>
Date: Sun, 20 May 2001 18:20:32 +1200

I had that sinking feeling when I read their latest announcement to the

It seems their previous release regarding the price of the rights on
issue had been misrepresented.  As I understand it, NCM rules are going
to require the rights to be issued at an average of the last 20 days
trading.  This will move the issue price from 30c per share closer
toward 40c per share.

Whilst I am still likely to accept the offer by SUB, I hope nobody
jumped on the bandwagon in the week between announcements after I bought
it to everybody's attention.


Hold SUB - firm believer in the future of this company...although they
do need to sharpen their scissors to cut through the remaining red tape
as quickly as possible.  ABS certification appears to have taken at
least 5 months longer that originally anticipated.

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