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post Posted: Oct 9 2006, 10:44 AM
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Hi to all ALN shareholders. As you know Thursday Oct 12th both ALN/AGL will commence trading on deferred basis. I being an AGL shareholder know what my position is with regards to the merger e.g. how much will the AGL share price be aftert the merger.
Example: Taking Friday's closing prices of $21.80 for AGL and $11.38 for ALN, the
implied new AGL Energy price is calculated as follows; 21.80 - .5771 x 11.38 = 15.23.
What will the SP of Alinta be.

post Posted: Oct 6 2006, 07:17 PM
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In reply to: neo99 on Wednesday 20/09/06 06:44pm

Hi all

At the AGM today Alinta said on a slide that they had talked to the ACCC, ASIC and Take Over panel about their on market acquisition of 10.2% of APT. In the coffee break I overheard a conversation between John Poynton and another shareholder where questions were asked about this and he was asked how this squared up against the statement by Bob Browning on TV that they had talked to the ACCC about the ALN position regarding their position on being forced to make a take over bid for APT on the acquisition from AGL of 30% of APT (now 26% after dilution) and not asked the question that "what would be the position if ALN bought on market 19.9% on APT on market prior to getting the 30% (now 26%) from AGL." From what I heard Poynton ducked the question by saying that he was not at the meeting with the ACCC. The phrase "talked to .." appeared to the questioner as misleading since if talked and all they said was "good morning" to the ACCC, ASIC and the take over panel then it was misleading to say that they had "talked to" them" particularly in relation to their statement on the slides. It was argued by John that it was unnecessary for ALN to spell out the on market acquisition of APT shares - to which he has a legal point however it is very close to the bone to say what they did on the slides at the EGM regarding their communications with the regulators on the subject.


post Posted: Oct 5 2006, 01:48 AM
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ALN accuses APT of paying too much for the QLD assests that both were bidding for. Destroying shareholder value just to stave off takover attempt is against the law.
Bob Browning doesnt mess around. If he considers this move unlawfull, APT management will be in trouble.
Very interesting play this one.

post Posted: Sep 20 2006, 06:44 PM
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Hi all,

Some musings about possible outcomes of the ALN/AGL/APT soup:

APT owns 2 of the 3 gas pipelines in the west and is 30% owned by AGL (60% owned by ASX:APA; and 10% owned by Petronas. As part of the merger/de-merger Alinta will get this part of the asset.

Agility (100% AGL owned) operates APT's pipelines under agreement and will pass to Alinta under the de-merger.

It is interesting that by buying on-market Alinta could increase their future holding above 40% and take technical control (remember they don't have 30% of APT until after the de-merger - months away - so technically IMO falls between the t/o cracks).

Simplistically, since they have an obligation to sell the 30% immediately, they could sell the entire APT holding to AIH with a premium, of which Alinta would also receive an ongoing operating fee (Alinta operates AIH's assets). Alinta would still retain operational control without actually owning it. Also, by controlling APT, they have the power to disolve/renegotiate Agility's original agreement.

Would appreciate any other thoughts about possible outcomes?


The stupid question unanswered is the stupid reality missed!
post Posted: Sep 5 2006, 12:21 PM
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user posted image

Recent Radio Broadcast (Wed, 16 Aug 2006 11:45AM):

Interim Results Mr Bob Browning, CEO and Mr Stephen Pearce, CFO

N.B. Radio can normally be accessed by the 'RADIO' link, top of every page.

------------------------------------------------------------------------------------------------------------- Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

post Posted: Aug 8 2006, 03:49 PM
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Thanks Balance.

Some good MD on the buy side as we approach the close


post Posted: Aug 8 2006, 11:42 AM
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In reply to: stoker on Tuesday 08/08/06 12:14pm

from the news wires a few days ago...

Australian infrastructure investor and utility group
Alinta (ALN.AU)is preparing to wade into the bid battle for Thames Water, The
Telegraph reports Saturday without citing sources. Alinta is understood to have
been interested in acquiring a UK water company for some time and is believed to
be considering making a move for Thames, which has been put up for sale by its
parent, the German energy group RWE (RWE.XE), the paper said.

Rise prob more to do with jobs losses at agl/aln post merger.~ around 1000 to go.

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Share prices are only ever manipulated down.
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post Posted: Aug 8 2006, 11:14 AM
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Nice move happening this morning. There is talk they are eyeing off a really big deal with Thames water. Only saw the headline, but did not get a chance to read the article. Will have have to go and get a paper. Any one have any more information on this?

post Posted: Aug 3 2006, 07:53 PM
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In reply to: Ranson52 on Wednesday 07/06/06 09:03pm


When the two competing but otherwise apparently identical merger proposals started, I enquired with my broker as to the likely effect they would have on AIH. I was told that either way it was probably a winner for AIH. AIH would have had first call on AGL assets offerred for sale in the event of ALN winning control of AGL, and I presume that the contractual arrangements are still be in force for AGB winning control of ALN and subsequently divesting infrastructure assests.

post Posted: Aug 3 2006, 06:40 PM
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The ACCC has finally given the go ahead for this merger to proceed. Given that current performance was better than expected, regardless of this decision, I am hoping the sp gets moving again. TRading on a PE of around 11, when I think some time last year it was trading on PE of about 17. It's has been a long wait through this approval process, but I don't think there is anything to hold it up now.


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