SGF offer is far more superior than MMS merger offer for ECX shares?, page-18

Hi everyone,

Sorry!. Some typo here. I meant me and my clients sold the the ECX shares last week at about $1.85 not $0.85 cents. The reason I alluded at the time were after having the conversations with Alan Dury and the MD, we felt uncertain about the merger going ahead due to the delays. Furthermore, the statements in the announcements gave us the feeling that MMS had raised doubts and did not appear to be so keen and hence the delay in the merger. The fact that really pushed us to take the losses at selling the ECX shares at about $1.85 last week was also our concern that when another merger of SIG with API was called off, the share price of SIG collapsed.

So where to from here?
We have bought back most of our shares at about $0.87 this afternoon only to see it rise and fall in a heap at closing at $0.83 and therefore more losses for us AGAIN. But we are confident that the shares must have some value at this price after falling 56% on a profit down grade. We are NOT giving any financial advice here and hopefully like the rest of you we see the market's judgement of the profit down grade as too harsh and did not merit a 56 per cent decline in the share price of ECX. But time will tell whether we are correct.

So please keep our heads high even though we are having serious concerns about the management of ECX who gave us another harsh profit down grade in such a short time of 2 months.

Cheerio,
Isdhope.