was offered some today by broker @ $21.52. Selldown by Sybos
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was offered some today by broker @ $21.52. Selldown by Sybos
" Essential products saw increased demand. Prepared dishes and cooking aids, Purina PetCare, coffee and Nestlé Health Science products reported increased growth "
From Nestle, which is good for Ebos with petcare being 14% of earnings.
Sybos did own 45.5m or 28% and are selling 15m. From the NZX release:
Quote:
On 22 June 2020, Sybos entered into a block trade agreement (the "Agreement") with
Citigroup Global Markets Limited (the "Underwriter") under which Sybos appointed the
Underwriter to manage and underwrite the sale of 15,000,000 ordinary shares in EBOS
currently held by Sybos for NZ$21.52 per share (or NZ$322,800,000 in aggregate). Under
the terms of the Agreement, Sybos undertakes in favour of the Underwriter to not deal in its
remaining shares in EBOS until the business day following the release of EBOS's full year
results for the year ended 30 June 2020 (as set out in full in clause 3 of the Agreement).
Citigroup has found owners for the 15m with only less than 100k still on their books.
Not enough in it for me atpit. Id be about 2cents up after brokerage.The road ahead suggests there may be a cheaper entry.
I'm looking forward to the full year result which is presumably out this month some time.
We know there has been unprecedented demand and have been told to look forward to a significant increase in earnings in the current financial year.
They quietly announced the annual meeting last week as if to remind us of a pending full year result. That would have been the time to advise us if anything was different.
I was looking for a bargain however SP has been quite stable ($20 - $22) since March. Lots of confidence?
Also hoping for a good result - added to my position a week or two ago, perhaps against my better judgement given reporting of my holdings in the last couple of weeks (BUB, OCA etc). But in for the long term.