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post Posted: Sep 24 2007, 10:36 AM
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The big test will be to see if the selling stays limited to 50c as the volume drops off or if they will start selling lower.

Climate is what we expect, weather is what we get.
post Posted: Sep 21 2007, 11:45 PM
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If Absolute Capital is truly unwinding its ownership in CUV it could be a long couple of weeks ahead. With 20% ownership they would control about 60 million shares. How many (if any) they've sold to date is anyones guess but yesterday's volume of 4 million plus is certainly not the norm. If they plan to sell the entire stake it could get ugly.

You wonder if CUV might consider buying some of them back at a major discount from their original issue price to stop the bleeding and potentially shore up the price. With $60 million in cash they could buy back 5 or 10 million shares without breaking the bank and if needed re-issue them again 12-18 months down the road and a much higher price. Just a thought.

post Posted: Sep 21 2007, 09:12 PM
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CUV mentioned on Bloomberg today.....

BHP, Clinuvel, Intec, PBL, Westfield: Australian Stock Preview

By Emma O'Brien

Sept. 21 (Bloomberg) -- The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed yesterday. Prices are from yesterday's close unless otherwise stated. Stock symbols are in parentheses after the company names.

...blah blah blah ....

Clinuvel Pharmaceuticals Ltd. (CUV AU): The Melbourne-based biopharmaceutical company said recent declines in its share price may be related to Absolute Capital Management Holdings, Clinuvel's largest stakeholder, declaring Sept. 19 that its funds were distressed. Clinuvel's activities are ``positive and unaffected'' by events specific to Absolute Capital, the company said in a statement to the exchange. Clinuvel lost 3.5 cents, or 7 percent, to 47 cents.

Link for those interested:


post Posted: Sep 21 2007, 07:05 PM
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Latest news on ACM :

AFX News Limited
Absolute Capital to restructure 5 equity funds
09.21.07, 4:25 AM ET

LONDON (Thomson Financial) - Absolute Capital Management Holdings Ltd (ACMH) said it will restructure five equity funds, to enable orderly management and sale of illiquid assets, while the remaining three funds will continue broadly as before.

Redemptions have been suspended on Absolute European Catalyst Fund Ltd, Absolute Octane Fund Ltd, Absolute Return Europe Fund Ltd and Absolute East West Fund Ltd.

Absolute Activist Value Fund Ltd will transfer its illiquid portfolio assets to a side pocket and issue side pocket shares to investors.

The company's management has held informal discussions with a large number of investors representing a significant proportion of assets under management, and is pleased to report that such investors' initial responses to the proposal have been positive, it said.

Absolute Germany Fund Ltd and Absolute India Fund Ltd hold illiquid assets at 2 pct and 5 pct, respectively. 'Unfortunately due to the instability and loss of investor confidence caused by (founder and co-chief investment officer) Florian Homm's sudden resignation, these funds have experienced high levels of redemption requests,' ACMH said.

Thus redemptions will be suspended for the Oct 1 2007 and Nov 1 2007 dealing days. The funds' portfolio managers have converted a significant portion of the funds' assets to cash, ACMH added.

It anticipates that these funds will reopen to subscriptions/redemptions in not more than 8 weeks.

Absolute Large Cap Fund Ltd's portfolio is highly liquid. Thus no restrictions on redemptions are needed as the fund will be able to meet redemption requests in the normal course, ACMH said.

post Posted: Sep 21 2007, 11:22 AM
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Games day.
looks like someone wants out.
be careful

cheers X-ray

post Posted: Sep 21 2007, 11:00 AM
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In reply to: console on Friday 21/09/07 10:52am

So nice of them to back off a bit to keep support levels around that price. blink.gif

Given that, looks like a great [re]entry point. Maybe hold some cash back for sub 45c dips, eh?

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post Posted: Sep 21 2007, 10:52 AM
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It looks like Absolute Capital are dumping shares down to 50c but they don't seem to go any lower.

I noticed yesterday that once it went below 50c the volume dropped off.

Climate is what we expect, weather is what we get.
post Posted: Sep 21 2007, 09:56 AM
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In reply to: sharedude on Friday 21/09/07 03:15am

Does anyone find it strange that CUV had a meeting before each of the announcements (video and web site) and came up with that announcement? I mean why you would need a meeting to come up with an announcement that should have been forth coming to shareholders without being pressured. Where was the falling ticket from the ASX watchdog?

Everything but now is History.
post Posted: Sep 21 2007, 04:12 AM
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In reply to: johnnytech on Thursday 20/09/07 10:56pm


You can find the summary of options in Appendix 4E & Preliminary Financial Report dated August 29, 2007 on CUV's web site under ASX Announcements.


post Posted: Sep 21 2007, 03:15 AM
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In reply to: imprezawrx on Friday 21/09/07 12:30am

In all honesty I do feel that these current levels represent a fair to good value for this stock. Any lower and it's a fire sale for sure......keeping a very close eye on CUV now. Overall, a good buying opportunity going medium to longer term. graduated.gif

[i]I've told you all a hundred million billion times: don't exaggerate![/i]

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