worth a look i think .09 or .10 likely, page-4

re: announcement out - security returns... Plenty of opinions it would seem...

Thanks everyone...both for the genuine responses and those not quite so, they are all valuable.

I take everything that has been said on board...however I suggest that sometimes it is better to look at these things objectively as an outsider, rather than as one who has followed closely and possibly been tainted by previous performance.

Of course, one would be foolish to discount history all together!

I have never seen a turn-around story that didn't start out looking hopeless...LOL...the problem however, is that most failures also start out the same way!

For what it's worth, my interest in TNC will only be of a short term nature...during the current transitional phase while the market sorts out some kind of fair value proposition.

TNC was overvalued...WAY OVERVALUED...at 50c, however at just 7c, there may be some value to be found in my opinion.

Remember, some fairly "sophisticated types" did their sums recently and thought 20c was fair value...the only thing that has changed since then is a rather stupid, clumsy and somewhat opportunistic move by the leasing group.

The reality is that recent events will actually have very little impact on TNC's future, that is of course, as long as Allleasing continue to support them...and according to today's announcement, it would appear that is going to be the case!

As I suggested it would, a positive announcement has come out...perhaps not be as up-beat as I was hoping for, but still one that extinguishes fears of the rug being pulled out from under them...what's more, the fact Allleasing have decided to continue supporting TNC in spite of "inspecting the books", at the very least, suggests things can't be too bad.

Anyway, could be an intersting day tomorrow, maybe with a few big fish (mainly the recent placement holders), loading up in ernest, if for no other reason than to average down.

I suspect a few may have been waiting for this announcement before commiting funds?

Anyway, here is today's announcement...

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July 11, 2005 ASX code: TNC
CONTRACT UPDATE
Transol Corporation Ltd (‘Transol’) is pleased to confirm that, further to its recent announcement
of Tuesday July 5 regarding discussions with Alleasing Finance Australia Ltd (‘Alleasing’), the
parties have agreed on a mutually acceptable arrangement.
Details of the proposed arrangement between the parties are commercially sensitive and
confidential to Alleasing and Transol, and finalisation will be subject to a number of conditions
precedent and entry into documentation which is to be prepared. Transol is actively pursuing the
satisfaction of the conditions precedent and will make further announcements as matters progress
in the near term. Transol has welcomed and appreciates Alleasing’s constructive position during
these discussions.
Further information
Bronwen Coulstock Nerida Mossop, Hintons
Tel: + 61 3 9248 1095 Tel: +61 3 9600 1979
www.transolgroup.com

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Cheers!