Volumes picking up
Maybe people did travel more over Easter?
http://nzx-prod-s7fsd7f98s.s3-websit...282/321523.pdf
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Volumes picking up
Maybe people did travel more over Easter?
http://nzx-prod-s7fsd7f98s.s3-websit...282/321523.pdf
All the retailers were allowed access back to the premises for all of last week to prepare for Level 3 this week, so there was a lot more activity on the roads.
postponing results , due to talking to lenders. must be looking to strengthen there balance sheet , debt ratios
Good to see the ACC (not the Alternative Commentary Collective - the other one) buying up at these levels. Good things should come with level 2!
**** hits the fan big time ....big loss reported
No divie until after Sept 2021
And $350m capital raise (at $2.75)
Tough world
http://nzx-prod-s7fsd7f98s.s3-websit...920/322308.pdf
Such bad company news = share price will go up this week?
No worries
as expected , of course this capital raising is only enough capital to carry them up till 22 yr cause there basing things back to normal by then. if things are still not good by then debt levels will be still high and dividend will be postponed for more years.
people who thought this was a safe company for dividends have seriously done there dough. it always was a dividend trap stock
I don't own this but follow it and the result is a shocker....feel sorry for holders.
No real option but to take up the equity offer and wait 18 months for dividend reinstatement
I don't know why NZ companies like to think USPP's are a good idea, supposedly to diversify funding etc
All they do is hold your nuts over the fire whenever there's any trouble and force deeply discounted equity raises imho.
Raising $350m new capital when current subscribed capital is $430m (with along with $170m revaluation reserve of $170m gives total equity of $600m) is pretty telling
And still heaps of debt will remain
and the raising is to be kicked off at $2.75? I wouldn't pay $2 for the shape Z Energy is in... income uncertain and in recovery mode for the next few years, no dividend now till (crossing fingers) FY22 and dividends unlikely to be as big as they were for a very long time, 6 cent NTA topped off by a terrible balance sheet post capital raising (putting it lightly)
Yep, all of that TJ, all true.....let's just also remember that COVID only affected fuel consumption for 1 week of this reporting period. Z managed to achieve most of this disaster all by this themselves!
This company has got serious and systemic issues way before covid gets layered over it.
interesting that Morningstar have a valuation of $8.30. Maybe they are still at lockdown level 4 and having internet issues.
When you consider this is an essential commodity the effects of Covid 19 are sobering on their operations BUT there have been systemic issues within this company for a while with a massively bloated cost structure that they're only now having to address, (no doubt under duress from their banks).
Even after this equity raise they still have a tremendous amount of debt and I believe they are vulnerable to ongoing market share losses so I will continue to avoid.
I also agree with t.j's post #1600 above.
good that they wont go under for a while so I can use my Sharetank
j/k
maybe not.
Maybe struggle to raise the capital ? I see a banner headline on Direct Broking at the top of the page with the headline that if you want to participate in the capital raise please phone us... If there's shares freely available for retail punters then one has to wonder if that's a good indicator or not...
I see the underwrite agreement has the usual termination rights to it, whatever that means, I suppose there's a well defined MAC clause in there :)
Whatever they raise they will claim this exercise as a success...
I see the virtual tank in the same light as the airpoints with AIR. Probably has similar MAC and force majeure clauses to the virtual tank as the airpoints scheme does ?