Interesting reading this page of the thread, it started with posters discussing the unusually large volumes going through and concludes a few days later with the announcement of a special dividend. Surely the ASX could have a look at these trades because in hindsight it seems obvious there was either insider trading or information slippage.
I feel like the kid who's always last to know what the goss is in the playground.
Nope. According to the NZX it is the same date, although they haven't got the imputation credit detail there yet..
PPP went ex div today on ASX and sp dropped, but went up on nzx with no details of ex div - maybe nzx does not provide details like that - be a shame if people bought today on nzx expecting a div and already to late
PPP declared a special dividend 2 days before the qaurterly. I think this shows complete contempt for shareholders.
Management released:
the 1/2 yr report on 19/2
A forecast on 19/3
A company update on 15/4
And then 12 days after the update & 2 days before the quarterly a "special" dividend" is announced due to "Tui".
The only reason possible is so that the insiders can gain at the expense of common shareholders. I think the ASX (NZX are far to useless) should issue a please explain notice to management. They are supposed to be the policemen that ensure "an informed market"
Anyone have any ideas on how to pressure ASX / management via media or shareholder action.
I am frankly peed off because I have waited for a Tui divi aka NZO and sold my PPP after the update on 15/4,ie,
"As at end February PPP has retained A$154 million (equivalent) in cash
comprising A$52 million, NZ$32 million and US$49 million." No mention of a divi.
PPP declared a special dividend 2 days before the qaurterly. I think this shows complete contempt for shareholders.
Management released:
the 1/2 yr report on 19/2
A forecast on 19/3
A company update on 15/4
And then 12 days after the update & 2 days before the quarterly a "special" dividend" is announced due to "Tui".
The only reason possible is so that the insiders can gain at the expense of common shareholders. I think the ASX (NZX are far to useless) should issue a please explain notice to management. They are supposed to be the policemen that ensure "an informed market"
Anyone have any ideas on how to pressure ASX / management via media or shareholder action.
I am frankly peed off because I have waited for a Tui divi aka NZO and sold my PPP after the update on 15/4,ie,
"As at end February PPP has retained A$154 million (equivalent) in cash
comprising A$52 million, NZ$32 million and US$49 million." No mention of a divi.
What was in the update of the 15/4 that caused you to decide to sell? I thought the update looked good even if the total monies came in a little less than i thought. Also i am not aware that any special dividend has to coninside with regular company releases.Would have to say you must have some pretty good other investment in mind to walk away from PPP.Also we all know PPP has a pile of cash and could at any time announce a div. It is also more likely with NZO sniffing around as i mentioned before about a week ago.
What was in the update of the 15/4 that caused you to decide to sell? I thought the update looked good even if the total monies came in a little less than i thought. Also i am not aware that any special dividend has to coninside with regular company releases.Would have to say you must have some pretty good other investment in mind to walk away from PPP.Also we all know PPP has a pile of cash and could at any time announce a div. It is also more likely with NZO sniffing around as i mentioned before about a week ago.
The sp did rise before the dividend was announced and several on this thread seem to suspect insider trading . I must admit it is strange not to mention they were considering a dividend in the update or had been announced before that they were going to pay dividends?
Its my belief that at times like this ethical management should include dividend policy and updates on likely dividends .
yeah a bit fishy all right... sold mine today at .44....off topic I know but wondering if CUE (AU) are worth a plunge.... topped up with some more today.
It should be noted that AWE, the major partner in Tui, had also declared a special dividend earlier in the year - " out of the blue" as far as I can recall. It shouldn't be a surprise that a company that accumulates cash as these do has the capacity to make these payments. The "special" tag is to avoid any suggestion that it might set a precedent and be expected as a regular, ie interim/final dividend.
Originally Posted by Snapper
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