The finance announcement was the first ann that sounded not quite right for me. The plan is to buy off shareholders with 10 cents. Like if that isn't the most round 'lets pluck a number from the sky' number there is I don't know what is.
What happenned to 10.5 cents or 11 cents or maybe 15 cents that's round.
The assets are some smelly old power stations that 'nobody' wants coupled with debt that nobody wants to finance. But one thing people do want is electricity and this was shown in the most recent revenue statement coupled by a supporting ann suggesting that the 'rumours' weren't correct.
However over the same time, the share price has moved from about 8.8 cents through to 9.5 cents. This means that the arbitrage company in the States is buying more and more trying to squeeze more juice out of this lemon before pay day or there is something more in this puppy yet.
One thing is, if I had got my money back 6 months ago I wouldn't have cared. However now, after leaving my capital in for so long I feel like I wouldn't mind some more icing on this cake. We will see.
AEJ Price at posting:
9.4¢ Sentiment: None Disclosure: Held
