NZF Group (NZF and NZF010)

[Tony Two Gloves]

Hehe the NZF spin doctor must be getting Alzheimer’s.......

[invessi]

No TTG, you did not look at the detail, the first release was through the sharemarket and the second was an article by Jenny Ruth, who has commented on NZF in the media for some time, if you read the two again, you will note subtle differences!!

[invessi]

Hehe the NZF spin doctor must be getting Alzheimer’s.......

Oh, my reader was missing a whole page for some reason so I missed that some had already commented on the two press articles and that they had different information, we should know the detail of the structure shortly when the independant report letter goes out to shareholders for a 50% acceptance of the share sale to Resimac!

[POSSUM THE CAT]

Enumerate Why do you think the Govt did not want anything to do with him over SCF. Any interest I had in NZF has now gone

[Enumerate]

Enumerate Why do you think the Govt did not want anything to do with him over SCF. Any interest I had in NZF has now gone

There you are ... another example where the information provded to be useful ...

[Tony Two Gloves]

Oh, my reader was missing a whole page for some reason so I missed that some had already commented on the two press articles and that they had different information, we should know the detail of the structure shortly when the independant report letter goes out to shareholders for a 50% acceptance of the share sale to Resimac!

I would think being a major transaction it will require a good deal more than a 50% shareholder approval or are you saying that Resimac has purchased 50% of the home loan business?

[invessi]

I would think being a major transaction it will require a good deal more than a 50% shareholder approval or are you saying that Resimac has purchased 50% of the home loan business?

I can confirm that they only require 50% shareholder approval, I don't know what percentage Resimac are buying!

[Xerof]

Yes 50% under NZX rules by Ordinary Resolution, as over 50% of Market Capitalisation, but would require 75% as a Special Resolution, if transaction was over 50% of ASSETS

so come on you clever clogs, with an up to date balance sheet, work out the upper value of this transaction - we know its over $1.9m (50% of MCAP of 3.8m)

[minimoke]

but would require 75% as a Special Resolution, if transaction was over 50% of ASSETS

Home Loan Assets were valued at $204.2m so holders will no doubt be anticipating an injection of at least $102.11m. I suspect thought that Reismac will have its eye on the corresponding $204.9m in liabilities.

How about I make a punt at 3 x profit or round it to $5m

Edit: NZF have said S129 doesn't apply so not a major transaction - being 75% of assets. NZF are silent one what a majority shareholding actually means so lets assume its a tad less than 100% of Home Loans.

[invessi]

Home Loan Assets were valued at $204.2m so holders will no doubt be anticipating an injection of at least $102.11m. I suspect thought that Reismac will have its eye on the corresponding $204.9m in liabilities.

How about I make a punt at 3 x profit or round it to $5m

Edit: NZF have said S129 doesn't apply so not a major transaction - being 75% of assets. NZF are silent one what a majority shareholding actually means so lets assume its a tad less than 100% of Home Loans.

$5M looks about right!