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Gold/Mining/Energy : CGI Group (GIB.A) -

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To: BM who wrote (960)	1/29/1999 11:00:00 AM
From: Jean-Robert Grenier	Read Replies (2) of 1673

Hi BM ! Long time no see. It was a great annual meeting. The management team were sound profound and confident in their talent. But the shareholders were waiting for great announcement such as a great first Q results witch they delivered, a split 2 for 1 that never came during the meeting after several questions and, the announcement of the purchase of a US Company to help CGI to mark their presence in the US market. That last issue, also, never came through .... After two days of reflection : Here's my thoughts on those 2 last pending issues. First they are intimately link. 1) If CGI buy's a US Company chances are that it will be a private one, they will buy it with $ and shares so.. let's put ourselves into the shoes of a US IT Company owner: a) I would like to see a realistic share price not inflated by a near split or any immediate purchase rumour before finalysing my buy out price. b) I would like to be buy out by a visionary management team with an outstanding network. c) I would like to find honest future partners. d) And finally the spirit of a great team work organization. So... Lets give CGI management the time to finish the actual negotiation with a future US partner. That's my though concerning the last issue. Regarding the split issue: 2) We have to remember that CGI was first quoted on NYSE at $14.50US so.. 30$ US would be in my view the next sign for a split. The company's price share doubled in 4 months. That's a great news to publish. Personally I think that Mr. Godin wants to see CGI shares at 45$ (CDN) before the announcement any new split. I believe that we will live a great year with CGI Group. Au revoir Jean-Robert

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