The ASA and Other groups that have the best interest of Minority...

The ASA and Other groups that have the best interest of Minority holders in sight, all agree with the views expressed against the delisting and buyout of ECP by PBL. Infact it is due to the fact that ECp will hit profit this year and not 2004 that this is being undertake. Sure, If Kezza can pick ECP and its wad of cash up at 0.55c then its a very shrewed move.

He gets the various businesses that are profitable and the cash out of ECP's stake in Wizard and Ebay some $200,000,000.00 of shareholders capital for a song!

Let's look at the supposed independant committe of The Ex Rothschild Merchant banker mate of Kerry's and Alison Deans - all who know the outcome of thier report - advise to delist or hit the street.

Simply put we have stuck with ECP ( some since float) and seeing the grey hairs at the recent AGM a lot of retiremnt savings may be tied to ECP. The fact is we bought a company that is linked to a sucessful business man and is very well run.
1. Did not burn float cash in blue sky rubbish
2. $150,000,000 from the sale of our stake in EBAY
3. board stated " if we had not invested in next gen mobile hotmail and wap" ECP would be in profit. - Is this still going ahead ? if not wat effect would this revision have on the 2001/2 accounts ???

4. Was the board undervaluing assets in ECP ? - Yes, if the realized value of ebay is anything to go by !!!!!!
5. If you take the ebay sale outcome and apply it to NINEMSN and Monster, how does that effect the markets view of ECP capitalization - only upwards baby.

The report from the independant (sic) committe better address these issues - it won't of course Paker does not want to pay more.

Taking these issues, without confirmation from ECP and looking at just the cash alone - I would value ECP at 0.88c PLus.

Over $1 if the 2001/2 accounts are revised to reflect a profit.

Singas

SAY NO TOO MINORITY BUYOUT !!!!!!