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Re: [sharechat] TEL


From: "greg" <gregoire@paradise.net.nz>
Date: Thu, 31 May 2001 10:36:09 +1200


I would say that there has been a clear trend of increasing highs and lows since the beginning of the year.  TEL's chart has now broken out of this trend - triggered by the recent share placement.  One thing this capital raising exercise did was to get investors to have a good look at the TEL's financial position as evidenced by the contributions over the last week or so.
 
This morning the share price seems to be looking for a support level.
 
What I'm not sure about is the two big trades of the last two days.  We know that the share placement was 91m shares at $5.50, but that there were trades of 73m and 95m shares over the last two days.  The price of these two trades was $5.50, so it looks as though some of these new shares have changed hands.  I guess it is possible that this could happen without triggering an SSH notice.  The total number of shares on issue now is 1762m + 91m = 1853m.  So 95m shares represents just over 5%.
 
Anybody got any thoughts?
 
Regards,
greg
 

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