friday nights thoughts, page-2

maca,

I understand your thoughts but like others I have halved my holding in the last few weeks. My reasoning is that there are simply some very good opportunities in the market where the company communicates with its owners rather than giving them the BS treatment. In my case I have increased my holding in MAD.

ACL was a very promising company at one stage, but it seems to have lost sight of the smaller shareholders who supported it since the early days. Now I feel that the board is bowing to vested interests (which technically is illegal as all shareholders should be treated equally) and I see the board being more concerned with feathering its own nest.

There is currently a proposal by the ASX, which if passedwill allow smaller companies to raise up to 25% of capital from instos at up to a 25% discount. Whilst it is not in effect yet I feel ACL would use such a mechanism to its maximum thuse effectively screwing its small shareholder base.

I cant change things so am voting with my feet.

The above are my views only and of course DYOR.