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Gold/Mining/Energy : GEAC.....Canadian best kept secret
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To: robnhood who wrote (312)6/5/1998 8:02:00 AM
From: micromike  Read Replies (1) of 1571
 
Robert Thomas was kind enough to E-mail me this.

Mike, I saw your remarks at the silicon investor site. I am not a member but follow the postings and saw your address on a posting from last December. Anyways, Geac released their last fourth quarter results (April 30, 1997) on July 11/97. It was the Friday, I have the news release here. So for some reason this is a normal release date for them. Funny though that 2 months later they released their next results at the annual meeting. The yahoo quotes site has 3 strong buys on Geac updated June 1/98. hope Sadler isn't behind the fall but it was him who had the insider trading in the Globe today. He still has around 200,000 shares left. Seems to me that he also sold some more not that long ago but if you remember the schmozzle when everyone thought he had left before it was at that time he had cashed tons more shares in, but, said he wanted the money for other reasons. Maybe this time is no big deal either? One thing I do notice is last summer when Geac aquired AMS around August 7/97, AMS had annual revenues of 8.5 million C$. The stock soared on that news! Maybe now it is tech stock malaise. (today Motorola lowered the boom after the close). Anyways Mike hope this clears up the July 98 earnings release for you. It's not out of the ordinary for them.
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With this and your comments I feel much better about the situation and plan to add instead of sell.

Thanks Robert and rrman much appreciated.

Mike
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