whats the story, page-7

Jesimore,If you check back COE's fall to 23c was at a time when they first gave an unconditional agreement to give back 50c +1.9 COE shares within a short time after 7Nov closing date while IPM shares traded around 80c.This can be broken down to 50c + 30c divided 1.9 COE shares.Buying IPM shares gave you opportunity to pick up COE shares for under 16c.No wonder COE shares fell.Even now with IPM available at $1.06 you can swap that for 50c+ 56c divided by 1.9= 29.5c/COE share which is a discount to buying COE shares on market.Once this ends on Friday COE will once again be trading on its merits.Expect a bounce limited of course by what the overall market is doing.Remember COE directors saw buying IPM shares as more of a bargain than buying their own shares,now that they have 20%+ of them it is worth more to them than spending the equivalent amount mopping up their own shares or they got it wrong.Just think what buying $20m+ worth of COE shares on market now would do to its SP and you get an idea of how cheap they are at present.