Relative value between TAS and EDE, page-69

TAS still lagging behind EDE with the ratio close to 1.3 to 1. With EDE slowing down in turnover I had expected TAS to narrow the gap by now. TAS is certainly the ugly duckling. The lack of interest in TAS compared to EDE continues to show up in the number of HC posts. You could almost chart the number of posts and compare that to a chart of the relative values.

It appears that the directors have also given up on efforts to promote TAS by comparing the relative values. They used to have a paragraph at the start of announcements stating that a reverse of the relative value should be in place eg. (Feb 5th announcement) stated "this equates to 1.26 EDE shares plus .20 EDEO for every TAS share issued." That hasn't happened lately.

Looks as though the only way forward for TAS shareholders to get true value is for the TAS held EDE shares to be distributed to TAS shareholders.

An announcement that this was going to happen would send a rocket to the SP. This possibility has been suggested on this forum a number of times and it is not beyond a possible outcome. With this in mind and with current relative values I am now 95% TAS and 5% EDE. ( I've put my money where my mouth is.)