Ann: Tesserent enters into Scheme Implementation Deed with Thales, page-167

Haha, even with hindsight which unequivocally shows I was absolutely correct, you can only say 'probably'!

Congratulations on your $220,000 profit. Plenty of people including myself would be proud and absolutely thrilled with that.

TNT was a very easy stock to read, most of the time. For the last 18 months or so the quarterlies told you almost exactly what was going to happen for the next 2 months (the following month would be influenced by market expectation of the upcoming one), with the last two quarterlies being as reliable as any. Both of them came out, absolutely shocking, predictably there was no shortage of holders posting on Hot Copper about them being good despite how horrendous they were, and then they'd spend the next couple of months posting 'what is going on, why is the price going down?' and I was feeling glad to have stopped posting because it would just be more Groundhog Day.

I really don't know what would have happened between now and the quarterly next month if the takeover hadn't come along, but it actually genuinely was getting very cheap (anything under about 6c was very cheap and in potential takeover territory), but the next quarterly would have given us all we needed to know for the following months, and I'm guessing that would have been bad, though it was already so cheap that it probably couldn't have gone much lower, and if it did go under 4c I'd have taken a position because a takeover would have just been inevitable at that market cap to revenue ratio, with the inevitable improvements a half decent management team could produce.

Congratulations again, enjoy the spoils!