price alignment with agm, page-2

Hi Broosa.

I think your correct - the discount that GUL commands compared to AGM has got less in the last few weeks.

I dumped about 800 000 GUL because of this and bought AGM.

Surprisingly after I had got rid of a big chunk someone came in and offred up on another reasonably sized parcel.

I don't know of anything going down but it makes you wonder. Last year GUL copped a caution from not being timely with their disclosures regarding AGM holdings but now with more AGM shares added and less holdings by GUL they have fallen under 5%, hence no obligation to report.

I wonder whether they knocked a lot of shares out at the recent high price and may have bought back or used the $ for something else. Maybe they are just holding cash...... Who knows!


Chinkiat