Worlds all happy again
HBL back to $2 in next week or so
Growing profits ...growing divvies ....what can go wrong
And don’t forget a profit upgrade still to come.
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Worlds all happy again
HBL back to $2 in next week or so
Growing profits ...growing divvies ....what can go wrong
And don’t forget a profit upgrade still to come.
No it doesn't. https://www.nbr.co.nz/article/we-don...ys-th-p-213619
Behind the paywall article in NBR today RBNZ comes out and basically says we do not have a duty to investors, which I find a little surprising.
The nub of this thing for those that don't have access is that their client is the bank or insurance company and they do not have a duty of disclosure to investors under the continuous disclosure requirements. The disturbing thing about this is that potentially the RBNZ could be conducting an investigation for a very long time on another client, like a bank and no disclosure would be forthcoming until they took whatever action they proposed.
RBNZ oversight in my opinion gives only limited additional assurance and certainly not any in terms of timely notification to investors.
Well I would have thought so but in the CBL case it was all wrapped up in confidentiality orders despite the subject matter being one of extremely high relevance to investors, i.e. solvency concerns. One also wonders how the auditors signed this off as a going concern. The mind boggles a bit about how this would have all played out for N.Z. banks including HBL if the recent dairy crisis had got a lot worse. Thankfully the banks dodged a bullet and its business as usual.
Can't help wondering if the SP reaction today in an otherwise strong market has something to do with the RBNZ calcifying the specific nature of their role ?
I sold all of mine today. But pretty sure my piddly amount couldn't affect the SP though.
At least Heartland isn’t as down as much as Blis is
That’s good