Refining NZ - Gain sharing arrangement with user shareholders

[Bob]

Notice of annual meeting arrived today. A disgruntled shareholder has motions before the meeting saying ordinary shareholders are being discriminated against compared to user-shareholders. He gives lots of information to support his view. I found it all quite hard to follow. Of course, the company directors take an opposing view. I suspect there is some merit in his argument. Anybody else studied this subject?

[macduffy]

I don't have a lot of sympathy for that view. The oil companies have had the controlling interest since formation of the company in the early 1960's - anyone investing in NZR knew/knows this and takes it into account in making a decision to buy or sell, thereby factoring it into the SP. If you don't like it, don't buy NZR.