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Down to 2 cents this morning and now a buyer at 1.4 Not for the faint of hearted.... But a conversion price of 6 cents, and now a 2 cent share price should imply a bond price of 33 cents? So a ytm of about 100%?
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Member
This notices have been posted on direct broking but there are no attachments?
06/04/2011 SSH: NZF: SSH - (trustees of the Hillview Trust)
05/04/2011 SSH: NZF: SSH - (Best Investments Limited)
05/04/2011 SSH: NZF: SSH - (Peter Karl Christopher Huljich)
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Hope your right Invessi, I am still a little mystified why this process has taken so long. I also believe that no potential partner would have required them to stop lending, whilst going through the Prospectus amendments it appears the real reason they stopped lending was they had no cash and no hope of raising bank funding.
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Member
Originally Posted by Tony Two Gloves
Hope your right Invessi, I am still a little mystified why this process has taken so long. I also believe that no potential partner would have required them to stop lending, whilst going through the Prospectus amendments it appears the real reason they stopped lending was they had no cash and no hope of raising bank funding.
I don't think "no cash" is the reason, the wholesale funds arrangment with Westpac for home loan lending is still $225m from memory and we have not seen a notice that this has been withdrawn, I understand there have been a number of potential partners which is why the process has taken so long and the Christchurch situation was instrumental in delaying matters, I understand one of these potential partners required the halt in lending, not sure about the current suitor?
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There goes the Chairman Invessi......I wonder if this will lead to some shareholder changes?
NZF Group Limited - Resignation of a Director
NZF Group Limited announces that following the sale of the Huljich KiwiSaver
business, Peter Karl Christopher Huljich has decided to resign Company
Directorships to focus on his private business interests
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Member
Yes, I was expecting that to happen!
Originally Posted by Tony Two Gloves
There goes the Chairman Invessi......I wonder if this will lead to some shareholder changes?
NZF Group Limited - Resignation of a Director
NZF Group Limited announces that following the sale of the Huljich KiwiSaver
business, Peter Karl Christopher Huljich has decided to resign Company
Directorships to focus on his private business interests
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PH has also resigned from other directorships today, so wouldn't read anything 'NZF specific' into his departure.
Can anyone tell me when the Westpac facility is due for expiry or renewal? They are very vulnerable to them also departing, and I can't really find a compelling reason for Westpac to stay to be quite honest....
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Member
NZF
12/04/2011 13:26
GENERAL
REL: 1326 HRS NZF Group Limited
GENERAL: NZF: NZF Group Limited (NZF) - Continuous Disclosure
NZF Group Limited (NZF) - Continuous Disclosure
On 2 February 2011, NZF announced that it was in the final stages of
negotiation with a new business partner, who we believed would be in a
position to offer NZF the most effective solution for its current and future
capital needs, in order to take advantage of growth opportunities that exist
within the Residential Mortgage Backed Securities market in New Zealand.
The process has taken much longer than originally expected due in part to the
negative ramifications of the Christchurch Earthquake but also NZF's desire
to secure the best possible long term business partner.
NZF is now in discussion with two parties and would expect to be able to
announce firm details of the preferred partner by 29 April 2011.
ENDS
End CA:00207947 For:NZF Type:GENERAL Time:2011-04-12 13:26:23
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oh dear - where have we heard all this before.
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Member
"Mr Huljich sold his interests in NZF down on 5 April from a personal holding of 4% to 0.92% and non-beneficial relevant interests from 11.06% to 7.16%"
This holding must have been sold off market, from memory, PH and friends outlayed about $13m for NZF shares, anyone got any comment on this!
see we are edging up again, last sale at 3c!
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