I like the ETWG. They rank ahead of ord and pref shares but behind creditors. They have a face value of 1.00 and pay 8.25% Looking at the half year rpt,ETW should have enough assets to cover the creditors and the ETWG holders should liquidation of the company occur. As for ord and pref shares,I don't think so. Things have changed a bit since then(on the downside) so will need to wait for 2005 annual rpt to reconfirm value of company assets.
ETW Price at posting:
0.0¢ Sentiment: None Disclosure: Held
