Forum Archive Index - March 2003

["mvanv" <mvanv@xtra.co.nz>]

Hi Shayne

 

RMG is a hard one to keep up with. Personall is constantly changing.

 

I done some work on RMG  in Dec. last year. Since then they have

come out with another $2 m loss for the half year

 

Net assets

Oct.2002    0.89c/share

Oct.2004    1.9.c/share   (if options exercised--3c/share for 328m shares)

 

 

 

Simce Dec. Paul Cooney has resigned (one of the companies founding members)

Cooney has a holding of 69m shares and was the acting CEO.

Ron Logan is the new CEO (has taken up 5m options)

 

Chairman James Boult  retires in March to be replaced by Michael Stiassny who

in recent months has taken up 12,5m shares. You may have heard of Stiassny

before, he is the receiver for the central North Island forrest. If anyone should know

wheather a company is about to go under, Stiassny should know.

 

Mr Michael Stiassny, an existing director will take up the Chairmanship on
Mr Boult's departure. Mr Stiassny is a Senior Partner of Ferrier Hodgson in
Auckland. He has significant experience in investigative accountancy work,
company restructuring, due diligence and insolvency. He is a current and
past Director of several public companies.

 

If you have not already invested in this company I would suggest you wait

until the full year results come out to see if they can at least manage to break-

even

 

 

Mick