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Subject: Re: UKNM: 'lastminute share plunge catastrophe/disaster'
From: Paul Gill
Date: Wed, 22 Mar 2000 15:35:06 GMT

At 16:56 21/03/00 -0000, you wrote:
>Prepare to see their shares rise in the next few months.

Why? They are valued at around 460m as I write this (probably less by the
time it reaches the list). Isn't that enough for a company who has found it
difficult to convert users to buyers, and who is losing money hand over

If you show me the sums whereby you can sensibly get from the number of
*purchasers* at LastMinute, and their average spend on the site, to a
valuation of above 250m then I'll take you out for dinner at a posh London

I know companies who are forward looking, have good management, make
profits and yet because they are deemed 'unsexy' in today's market are
valued at less than 200m.

I agree to a certain extent with Martha Lane Fox's points that they have
established relationships with lots of suppliers, and that the 'space' they
occupy is difficult to replicate - but is this (together with a 'strong'
brand) really worth 480m?

I wish them well, but their valuation is way over the top. Many private
investors also believe that the float has been the catalyst for the
mini-crash/correction in 'tech' stocks recently (the c.20% drop in the
sector over the last week) - caused (as is widely believed) by the greed of
the banks running the LM floatation.



nb this is a personal view of a private investor, and in no way represents
the company for which I work.

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  Re: UKNM: 'lastminute share plunge catas, Ray Taylor
  RE: UKNM: 'lastminute share plunge catas, Mohammed Raja

  UKNM: 'lastminute share plunge catastrop, John Braithwaite

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