Throwing in the towel, page-14

Hi all,

Its all very interesting. PCL rejecting(?? WTF...not good given results even at the time) a proposed merger with FAR 18 months ago. My, haven't things changed. Hugely.

Oil price and Kenya tanking yet FAR hits the quinella on the other side of Africa. Thoughts of a merger are truly dead. $16m MC doesn't 'merge' into $300m MC...FAR will now say "I'll take your assets when I'm ready. Which is not now...and there is no need for FAR to move now...if ever.

I'm also a SH of PCL (I though 2.2c was a 'safe' average in!). But PCL management have done squat all for 15 months and we're now in the natural decay curve that will probably see 1c...unless management realise they have no say in managing shareholder wealth. They are but an administrative, ineffective black hole; doing their best impression, unfortunately, of ostrich asset management.

Don't they realise its a case of "do" or "die"?? Doing nothing = DEAD. Simples.

But I suspect, again unfortunately, they are not listening.

Big Sigh....