over $3 this week, page-5

ssi/gcn take over??? Valueadd, you have your companies mixed up, Canada Land did not have anything to do with the 3 dams project, but we know what you mean regarding the success of the companies SSI has been involved in.

But back to business, it is true that SSI own shares in GCN, not the other way around, and if SSI goes up it don’t mean GCN will.
However, because SSI do not really do much but for a bit of brokering, GCN is their main asset, or to be specific the shares they own, this was acknowledged by the company when they set a price of 60 cents for BW to buy shares, at the time GCN was 6 cents so 10 times 6 is 60 cents.

So why is SSI $2,50 when GCN is only 9 cents, let’s look at this merger, or is it a take over.

According to the report that was talked about in Focus Money, in that is said SSI in 206 could earn profits of 20 mill EUR which would work out to be .27 EUR per SSI share.

Working that out it means they are working on around 73 mill SSI shares. So there will be an extra 50 odd mill shares when the so called merger takes place, all these will go to Best Winning, who are owned by Horizon, so in my view it is a take over.

Now do they want SSI, who as we say do little business on their own, or more likely GCN who they will pick up by taking over SSI.

This is how I see this. So this is something for shareholders to take into account when more details and a vote is called for.

So back to GCN, why did it fall and not keep rising as predicted, this placement would have stopped it, the market was trading at nearly 10 cents and they sell some of the company off for 6 cents,
As I say not a lot but is it right, have they acted responsibly toward all shareholders or just some.

So why the buying of SSI and to a lesser extent GCN, I would think the thought of a take over and new owners.
It would appear GCN will never make a profit being run how it is, so new owners and a complete change of business is seen as a good thing, and China gambling would seem to be a growth area, and as we have said, SSI is reliant on GCN at present, if GCN make money SSI get part of it, if GCN lose, so do SSI.

As for the take over, SSI sitting at $2.50 would maybe encourage shareholders to be happy about the proposal, but most would hold GCN as well as SSI, so let's see what is in it for us, all of us.

Any comments from shareholders, you could contact me at [email protected]