smorgon steel group limited

Hello Smorgoners,

Macquarie are cleaning up the register with a small shareholding sale facility with last mail to request to keep your shares by 5PM 11th June 2004.

5 to 10 business days after this will set the sale price and then the mailouts for the average volume waited period.

I think they'll need to clean up the register before a stock swap offer is tabled formally.

Can Bluescope's share price hold on until the stock swap launch between the 18th June and the 25th June 2004?

If you think the stock swap deal is going to happen, certainly get some before the 11th June 2004.

I can't imagine any clearer indication that the company is trying to clean up the shareholder register to reduce the mailout costs for the stock swap deal prospectus/notice/offer documents which cost big bickies to print and mail out I imagine, more than the small shareholder sale facility offer documents.

Good luck with the theory,

David