Hold on boys
the speeding ticket
COMPARE 27th JUNE 2006 (ie price coming down) (OLD)
with 12th SEP 2006 (NEW)
1. Is the company aware of any information concerning it that has not been
announced which, if known, could be an explanation for recent trading in the
securities of the Company?
OLD ANSWER:
The company is not aware of any other information, which could be an
explanation for recent trading in the securities other than current market
conditions.
NEW ANSWEER:
The company has no direct knowledge of what factors may be influencing the recent movements in the trading price of shares in the Company. However, the company's directors wish to advise that the Company has been and is currently in discussions with a number of parties in relation to various transactions including possible capital raising opportunities with various investors, including institutional, strategic or sophisticated investors. The discussions are continuing and no agreement on any particular transaction has been reached. The Company is currently seeking advice on the possible options from its advisors. There is no certainty that any corporate activities will eventuate from these discussions.
2. If the answer is yes can an announcement be made immediately?
OLD ANSWER:
Not applicable.
NEW ANSWER:
At this stage, the Company is unable to make an announcement about any discussions it has engaged in, as outlined in paragraph 1, as they concern possible options that are confidential, incomplete and are insufficiently definite to warrant disclosure.
The Company will continue to keep the market informed in accordance with its continuous disclosure obligations.
3. Is there any reason to think that there may be a change in the operating result before abnormal items and income tax so that the figure for the financial year ended 30 June 2006 would vary from the previous financial year by more than 15%? If so, please provide the details as to the extent of the likely variation.
OLD ANSWER and NEW ANSWER: (exactly word for word)
The Company as at the end of June 2006 is substantially different to the
business accounted for in the financial year ended June 2005. In 2005, the
Company divested of its operating relationship and pending High Court legal
challenge against Vodafone, which resulted in a material settlement and
cessation of business with Vodafone in the financial year ended June 2005.
The half-year results before tax as at December 2005 are expected to reflect
the current operational results of the Company, for the half-year ended June
2006.
4. Is there any reason to think that the Company may record any material
abnormal or extraordinary result for the financial year ended 30 June 2006? If
so, please provide details.
OLD and NEW ANSWER
No
5. Is there any other explanation that the Company may have for the price change in the securities of the Company?
OLD and NEW ANSWER
No
6. Please confirm that The Company is in compliance with the listing rules and, in particular, listing rule 3.1.
OLD ANSWER AND NEW ANSWER: (essentially the same)
The company is in compliance with the listing rules and in particular, listing
rule 3.1.
so what has changed?????
Well the comment about the financial position of the company is the same
ie I would expect a loss of some $5m for the second half of 2005-6
What they are saying is that there are negotiations with potential investors of ENGIN, which we essentially already knew!
What I have noticed, is that the share price seems to be being pushed by a new buying influence that was not present some 1 - 2 weeks ago. I get the gut feeling that there is someone who is acquiring a fair number of this stock. I suspect there will be an annoucement of a new significant shareholder over the next week or two. The way the market is moving, I see that they are prepared to push the price upwards to attain shares rather than wait for supply of natural sellers to come onto the market. When the buyer stops pushing the share price, the market comes down. When they start pushing again off the price goes. This is evidenced by spikes of volume as the price rises and a decrease in price on only very small volume
i feel the stock is moving from weak hands to strong hands (as per Edwards and Mcgee). Today's action was a classic example of shaking out the sellers. Once they are shaken out we will go into free upward movement.
I think we know the financial situation of the company (just about to break even), when this is announced (breakeven) then it will be like petrol on a fire.
ij
the speeding ticket
COMPARE 27th JUNE 2006 (ie price coming down) (OLD)
with 12th SEP 2006 (NEW)
1. Is the company aware of any information concerning it that has not been
announced which, if known, could be an explanation for recent trading in the
securities of the Company?
OLD ANSWER:
The company is not aware of any other information, which could be an
explanation for recent trading in the securities other than current market
conditions.
NEW ANSWEER:
The company has no direct knowledge of what factors may be influencing the recent movements in the trading price of shares in the Company. However, the company's directors wish to advise that the Company has been and is currently in discussions with a number of parties in relation to various transactions including possible capital raising opportunities with various investors, including institutional, strategic or sophisticated investors. The discussions are continuing and no agreement on any particular transaction has been reached. The Company is currently seeking advice on the possible options from its advisors. There is no certainty that any corporate activities will eventuate from these discussions.
2. If the answer is yes can an announcement be made immediately?
OLD ANSWER:
Not applicable.
NEW ANSWER:
At this stage, the Company is unable to make an announcement about any discussions it has engaged in, as outlined in paragraph 1, as they concern possible options that are confidential, incomplete and are insufficiently definite to warrant disclosure.
The Company will continue to keep the market informed in accordance with its continuous disclosure obligations.
3. Is there any reason to think that there may be a change in the operating result before abnormal items and income tax so that the figure for the financial year ended 30 June 2006 would vary from the previous financial year by more than 15%? If so, please provide the details as to the extent of the likely variation.
OLD ANSWER and NEW ANSWER: (exactly word for word)
The Company as at the end of June 2006 is substantially different to the
business accounted for in the financial year ended June 2005. In 2005, the
Company divested of its operating relationship and pending High Court legal
challenge against Vodafone, which resulted in a material settlement and
cessation of business with Vodafone in the financial year ended June 2005.
The half-year results before tax as at December 2005 are expected to reflect
the current operational results of the Company, for the half-year ended June
2006.
4. Is there any reason to think that the Company may record any material
abnormal or extraordinary result for the financial year ended 30 June 2006? If
so, please provide details.
OLD and NEW ANSWER
No
5. Is there any other explanation that the Company may have for the price change in the securities of the Company?
OLD and NEW ANSWER
No
6. Please confirm that The Company is in compliance with the listing rules and, in particular, listing rule 3.1.
OLD ANSWER AND NEW ANSWER: (essentially the same)
The company is in compliance with the listing rules and in particular, listing
rule 3.1.
so what has changed?????
Well the comment about the financial position of the company is the same
ie I would expect a loss of some $5m for the second half of 2005-6
What they are saying is that there are negotiations with potential investors of ENGIN, which we essentially already knew!
What I have noticed, is that the share price seems to be being pushed by a new buying influence that was not present some 1 - 2 weeks ago. I get the gut feeling that there is someone who is acquiring a fair number of this stock. I suspect there will be an annoucement of a new significant shareholder over the next week or two. The way the market is moving, I see that they are prepared to push the price upwards to attain shares rather than wait for supply of natural sellers to come onto the market. When the buyer stops pushing the share price, the market comes down. When they start pushing again off the price goes. This is evidenced by spikes of volume as the price rises and a decrease in price on only very small volume
i feel the stock is moving from weak hands to strong hands (as per Edwards and Mcgee). Today's action was a classic example of shaking out the sellers. Once they are shaken out we will go into free upward movement.
I think we know the financial situation of the company (just about to break even), when this is announced (breakeven) then it will be like petrol on a fire.
ij
