Sorry folks that last copy was pathetic,I hope ZWU can redeem me...

Sorry folks that last copy was pathetic,

I hope ZWU can redeem me with this one,and yes it is ancient history but you need to to go to gunns on hotcopper and see,Iwill not vote for this mob ,in fact none of them.Iwant this finfished as soon as possible,so all the blood and tears can be cleared from this MIS Titanic

fraudulent data (zwu)
Forum: ASX - By Stock (Back)
Code: GNS - GUNNS LIMITED ( 88.5c | Price Chart | Announcements | Google GNS)
Post: 4429538 (Start of thread) Views: 134
Posted: 01/09/09 00:28 Stock Price (at time of posting): $1.10* Sentiment: Sell Disclosure: No Stock Held From: 114.76.xxx.xxx

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So, GNS told you that its 2009 net profit down only 4.9% from last year's $59.2m to $56.2m, and its e/s only down 37% from 12.9c to 8.1c.

Correct?

But if you check its last year's report, you will find they are wrong.

In its last year's report (issued 4/9/2008, amended 5/9/2008), its 2008 profit was $64.5m, not $59.2m as it claims now, and its 2008 e/s was 14.2c, not 12.9c !

It is strange, isn't it?

But do you still remember what GNS was doing this time last year?

Capital raising, just as what it's doing now! Just on 4/9/2008, the same day of the 2008 results announcement, GTP declared "Gunns Raises $336 Million Through Institutional Entitlement" at $1.50 per share!


$336m raised from institutions at a1.50 ps!" (zwu)
Forum: ASX - By Stock (Back)
Code: GNS - GUNNS LIMITED ( 88.5c | Price Chart | Announcements | Google GNS)
Post: 4441752 (Start of thread) Views: 203
Posted: 03/09/09 12:47 Stock Price (at time of posting): 99.5c* Sentiment: Sell Disclosure: No Stock Held From: 114.76.xxx.xxx

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"$336m Raised from Institutions at $1.50 per share!"

This was the much cheered GNS announcement on 4/9/2008 almost exactly a year ago to fund its $350m acquisition of Auspine.

Still remember what happened later?

If you were here long enough, you would know - the GNS share price was just falling and falling and soon broke through the $1.50 mark. The following retailers' cap raising was a complete failure (only fools would accept the offer!).

As an direct consequence, GNS had to sold its immature trees for $175m to cover the debt. GNS also lost 1/2 of its pulp mill since banks insisted that GNS had to find a 50:50 JV partner.

Later I noticed GNS never mentioned that "$336m" number again and it was changed quietly and deceitfully to something under $300m at a small corner of a lengthy announcement months later.

One year has passed. What's happening now is again "$115m Raised from Institutions at $0.90 per share" to acquire ITC!

Won't history repeat itself?

Or is it already repeating?

Watch out!