Silence for a few days at least...
Printable View
Silence for a few days at least...
Point is that NZO has been losing money now for 2 years, is effectively paying back capital (after saying it will focus on growth opportunities), has no clear operational strategy save for making bad investments with the bright boys from Zeta.
Incidentally, the bright boys bought into NZO thinking it was undervalued so TR must be laughing like a well fed kookaburra from across the ditch, having effectively sold his shares to them.
They are looking to speed up the buy back: https://www.nzx.com/companies/NZO/announcements/288143
Just read through the tender document. Seems an overly complex way to do things. Why not just stand in the market at 55c until they get what they need? If they dont make it then why do they think they'll get there using a complex tender approach. Cant get excited myself - today's SP plus the prospect of the dividend + imputs sounds as good as their offer sans dividend.
With 10 min to go re 238,000 shares bought back. Big fail atp.
Stand in the Market – On-market buyback in NZO