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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Jerry S. who wrote (66260)	4/5/1999 11:02:00 PM
From: Teri Garner	Read Replies (1) \| Respond to of 119973

EGRP up 43% (in Australia) then halted, co. to make major announcement Tues: Monday April 5, 10:40 pm Eastern Time Etrade expects to make announcement soon SYDNEY, April 6 (Reuters) - Online broker Etrade Australia Ltd said on Tuesday it expects to make an announcement later today clarifying an agreement to place 15 percent of its stock with trading software group Computershare Ltd . ''The (Australian) Stock Exchange requires more information about the timing of the negotiations and our announcement, and we are replying accordingly,'' Etrade Australia chairman Malcolm Spry told Reuters. The stock exchange said about 11:20 a.m. (0120 GMT) that trading in Etrade's shares was halted until the start of trade on Thursday or until the online broker made an announcement -- whichever was earlier. ''They just want clarification, so we've requested a temporary suspension until such time as we get that out, which will be in the next hour or so,'' Spry said. Etrade shares shot as much as 43 percent higher this morning to a record intraday peak of A$6.95. Etrade stock has nearly doubled from its closing A$3.63 a week ago. On Thursday, the last trading day here before the Easter break, news of the placement with Computershare powered its shares as much as 26.5 percent ahead. The four-day public holiday ended today, and investors resumed their scramble for the thinly traded stock until the ASX announced the trading halt. ETrade Australia said on Thursday the placement stock would be issued to Computershare at about A$3.00 each. It said it planned to raise about A$23.25 million through the placement. ETrade also said it and Computershare had agreed to investigate ways in which the companies might further cooperate in the development of online financial services both in Australia and abroad. ETrade said that once the placement has been made, a nominee of Computershare would be appointed to the ETrade board. Spry said then that with the injection of more than A$20 million in cash reserves, E*Trade would be well-placed to expand its online financial services business in Australia and New Zealand and take advantage of the significant business opportunities offered in association with Computershare.