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Online Share Trading

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ACL

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Russ
Super Contributor
Anyone still holding this share? It is looking quite promising as a spec buy.
5 REPLIES 5
Not applicable
have you read the rights offer announcements? Firstly, not fully subscribed (bugger up number one), second, they are going the rights issue route to pay off their debt, which they fully intend to re-enter - so all you are doing is increasing shares, to settle maturing debt and replace it with new instruments. The fact that they needed shareholder input to do this (as apposed to just renegotiating debt) should tell you everything you need to know about ACL. Lastly, and here is the real kicker, you the shareholder are going to be asked to finance part or all of the BEE transaction being proposed. ACL is priced to fail - I bet even money that Arcelor's parent company must be looking round about now to write this one off.
Russ
Super Contributor
So you are fearful?
Not applicable
Hard to imagine what else you could be with this rubbish
Russ
Super Contributor
You could be greedy.
Galuc
Super Contributor
One man's trash is another man's treasure!