re: -director's credentials
I have followed much of the analysis/scrutiny posted about the ASX releases etc with interest. I believe it is going to be very difficult to get any proper feel for the outlook until we get a look at the Information Memorandum when it issues.
However, I have remained in the stock for a few reasons:
1. There has been very little dumping which indicates a reasonable amount of confidence in the outlook by most investors...in fact, the turnover has been extremely light which indicates the sellers are likely to be those that have an imperative to do so for cash flow reasons. 2. I personally have a lot of confidence in the Melbourne establishment people who have put their name behind this vehicle. Barry Hamilton is a very experienced Finance guy and public company director and I think is extremely well connected via Lloyd Williams and Ron Walker. His reputation and astute sense of value is, in my estimation, a significant plus for Swiftel. Having said that he will definitely be out for a decent return on his own investment, but that should work in all investor's favour. 3. The recent scrutiny of Telstra's broadband strategy should bode well for that part of the Swiftel group. There is still enormous growth potential in broadband, and also in the associated VOIP technology that could catapult small players into realistic competitors to the majors when it comes to voice traffic.
I await the documentation with interest. I reduced my FPO exposure and replaced with Options over the two months leading up to the announcement. I am quite happy to be in the oppies instead.
As always the above are my opinions only and i recommend people do their own research.
