Sharechat Logo

Forum Archive Index - October 2003

Please note usage of the Forum is subject to the Terms & Conditions.

Messages by Date [ Next by Date Previous by Date ]
Messages by Thread [ Next by Thread Previous by Thread ]
Post to the Forum [ New message Reply to this message ]
Printable version

Re: [sharechat] 42 Below - alcohol poison

From: "James Sherbert" <>
Date: Thu, 23 Oct 2003 00:07:25 +0000

If anyone still cares.....

Attached is a quote from a Direct Broking email i just recieved offering 
sage advice about investing in 42B. Makes me want to go out and buy ;)

Dear, oh, dear. Dorchester shareholders beter hope the news is good. Direct 
broking could end up being the JBWere of 2003 if it turns sour (remember 
Vertex float and Tranzrail sale of Fay & Richwhite holding. phew, they were 


We were perplexed at the performance of the 42 BELOW, with selling taking 
the stock down to the low 30's.

There are a number of reasons that can be given for the fall, but the market 
is the market, and only time will tell if the sellers are right or wrong. 
The point we wish to make is that 42 BELOW represents one of the few 
opportunities the NZ market has had to invest in a growth stock at the early 
stages of its development.

Hold pending evidence of NZ and International sales momentum, particularly 
in the US. We believe that the HY Sept 03, due shortly should give the 
market some guidance as to whether the company's sales strategy is working 
or not.

>From: "Malcolm Cameron" <>
>Subject: Re: [sharechat] 42 Below - alcohol poison
>Date: Mon, 20 Oct 2003 11:53:27 +1000
>Charles Your reasoning is as bad as your mathmatics. If you take warrants 
>into consideration and the stags had not paniced we would have broken about 
>even At 43 cents and comparable warrant prices as it is at the moment we 
>are down 13% . Where as those that bought Telstra at T2 are down a hellof a 
>lot more than that.
>>From: Charles Harvey <>
>>To: <>
>>Subject: [sharechat] 42 Below - alcohol poison
>>Date: Mon, 20 Oct 2003 12:11:43 +1300
>>As one who did post a warning on this float I will not gloat with 
>>but wish to take issue with the NZX for not monitoring this charade.
>>Firstly, let's ask the question, who purchased this 'oversubscribed scaled
>>back' float? My hunch is somebody is left holding a rather large parcel of
>>stock. When it is talked up to the degree Dorchester and the FTB directors
>>talked it and then plummets like no other float that I can remember,
>>questions must be asked.
>>This example offers little confidence to uninitiated investors. The NZX
>>needs to come out and explain (the directors wont, they're too busy sewing
>>dresses and sails) why investors have lost at least 20% of their 
>>in just a few trading days. It appeared to get propped up on Friday after
>>going minus 40% yet looks southbound again. I suspect Gaynor (Herald) is 
>>to it now but where is the NZX for comment?
>>To those who were suckered by the sex appeal of the float promotion, I
>>suggest you can put it down to good old experience. Maybe your decision 
>>vodka impaired. Piddling your money into pumped up penny stocks is a 
>>business unless you are a very experienced and decisive trader. I'm sure
>>there is not a single institution or serious investor who looked past the
>>glossy outer image on this one. The register will soon tell.
>>As for the original stakeholders, well I don't bemoan the original
>>stakeholders a reasonable profit but when they are issued shares at less
>>than 1 cent (see NZX announcement excerpts below) and then ask the market
>>for 50 cents (less warrants value) you have got to ask, is this 
>>The answer is no. A lot of genuine investors just got themselves fleeced 
>>some South Island sheep rustlers in designer swandris. The greatest value
>>added to this company is from the cash injected by recent subscribers. 
>>a good lesson for us all and an opportunity to bookmark some names ( the
>>directors & Dorchester) for the future.
>>All the best, Charlie.
>>Excerpts from NZX announcements
>>- Southern Skies Holdings Limited acquired 49 shares from Better Living
>>Holdings Limited for $1.00 on 16 May 2002, sold 3 shares to Better Living
>>Holdings Ltd for $24,000 on 27 June 2003 and on subdivision in August
>>2003,these 46 shares converted to 5,011 shares.
>>- On 30 August 2003, Geoffrey Ross, Justine Ross and Darren Abernathey
>>    (jointly) subscribed for 380,000 shares for $1.00 per share and these
>>    380,000 shares were then subdivided into 41,394,989 shares.
>>- On 30 August 2003, Grant Baker, Donna Baker and Paul Smithies (jointly)
>>subscribed for 223,043 shares for $1.00 per share and these 223,043 shares
>>were then subdivided into 24,297,059 shares.
>>- Better Living Holdings Limited acquired 100 shares for $1.00 on 16 May
>>  2002, sold 49 shares to Southern Skies Holdings Ltd for $1.00 on 16 May
>>  2002, acquired 3 shares from Southern Skies Holdings Ltd for $24,000 on
>>27June 2003 and on subdivision of these shares in August 2003, these 54
>>shares converted to 5,882 shares.  On 17 May 2002, Grant Baker, Donna 
>>and Paul Smithies (jointly) acquired 50 shares (being 50% of the shares on
>>issue and is entitled to 50% of the underlying assets) in Fernglen Ltd for
>>$1.00 per share and on the same date Fernglen Ltd applied this money
>>toward the purchase of 100 shares in Better Living Holdings Limited for
>>$1.00 per share on incorporation of that company.
>>To remove yourself from this list, please use the form at
>ninemsn Premium transforms your e-mail with colours, photos and animated 
>text. Click here
>To remove yourself from this list, please use the form at

Find your perfect match @   with XtraMSN 

To remove yourself from this list, please use the form at

Messages by Date [ Next by Date: [sharechat] LUM and EPT G Stolwyk
Previous by Date: [sharechat] Steel & Tube special div |Congraulations Snoopy Marilyn Munroe ]
Messages by Thread [ Next by Thread: [sharechat] Marilyn slinks into Lyttelton Port Co AGM Marilyn Munroe
Previous by Thread: Re: [sharechat] 42 Below - alcohol poison Malcolm Cameron ]
Post to the Forum [ New message Reply to this message ]