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Now on a eight year low.

 

What we do know about this stock is that it is led by Fletcher Challenge old boys and Citigroup has been contracted in to help manage them.

 

Need anything more be said in terms of wealth creation?

 

The only thing left to do with this dog is to dump it on to the NASDAQ and let some other sucker shareholders carry the can. Just like with Capstone.

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  • 3 weeks later...

Not a single share for sale in RBC now. Which is surprising given the amount of stock put in to Citi's hands to keep dripping on to the market and keep a lid on the price.

 

If they are all out of ammo then things are not far away.

 

Total of Interest : 33131421 Current % held : 13.3 Names : Citicorp Nominees Pty Limited Provisions : (d) Transaction dates : 19/03/07 Total Votes : 33131421 Considerations : Description : Citigroup Global Markets Limited holds a relevant interest in these shares solely in its capacity as Prime Broker with power to control the disposal of the shares

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  • 2 weeks later...

Now a part takeover bid to mop up the last shareholder they haven't been able to wring out.

 

The bid is valid for 30 days from today and the IPO window, ie when Arborgen goes on to the NASDAQ will be some time after that. Probably Q3.

 

 

 

 

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  • 2 months later...

Its not all plain sailing. Seems the outcome will be private too.

 

The Panel has convened a meeting to be held in Auckland on Wednesday 10 June 2009 to consider whether to exercise any of its powers under section 32 of the Takeovers Act 1993. The meeting will be a private meeting.

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...and while that was going on, CPST is up over 78% on huge volume.

 

CPST is another alternative energy that got spun out of the Fletcher empire.

 

Just such a pity they're tied up with Citi otherwise they might've been worth a punt.

 

Nevertheless, the bomb is about to drop.

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