coe plunges to 32c on open , page-4

Graham, I think there's another possible explanation for today's sell-off. When Eddie announced his first attempt he ending up getting about 45% of the vote. Which by anyones language would be classed as a close result. He then tried again immediately after that vote. It seems reasonable to me to assume that other punters could have entered COE at the prevailing prices (37-38c roughly) in the hopes of a good payoff if Eddie was successful in his 2nd bid. The vote on Friday moved Eddie away from a close result and into a area where imminent success is now far less likely. The fair weather friends of COE who bought hoping for a Xmas present from Eddie are now heading out the door as past as their little trotters can carry them. I'm a top ten shareholder and I'm staying. I think that the current board knows that they have about 6-9 months to get a meaningful rise in the share price. I suspect there will be announcements in the future which will make 32c look like a goddam robbery.