They have an offer for Tui that I assume takes that into account Blackcap?
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They have an offer for Tui that I assume takes that into account Blackcap?
Was just adding the $168 million from Kupe plus the $100 million cash already held plus value of 50% of Cue clean exit on Tui and I reckon 90c is on the conservative side.
If 90 cents is the valuation of the assets then its worth asking nzog to buy minority shareholders out-they would probably offer the sp-then independent valuation of a fair and reasonable price by an arbitrator is likely to end up with a valuation around mid-point-eg 76 cents plus costs awarded against nzog.
This is what we did with TTP.
Anyone contemplating doing so?
Has there been any recent explanations why it takes till any time in May, to dish out the 100 millions to share holders?
IF NOT, would like to know reason for this delay, as the deal with Genesis has been done and dusted quite some time ago?????
Has been very quiet on the Western Front, and just seems to be in a bit of a holding pattern.
Even last weeks quarterly activity and cashflow reports went by without a murmur.
https://www.nzx.com/files/attachments/252182.pdf
https://www.nzx.com/companies/NZO/announcements/296153
The long gradual painful decline continues.....
yes I read them, but they were rather interestingly closed off the day before the big deal was settled.
once you do all that there's 82c cash/share on the balance sheet ? and 97cps nta overall? currently at 63 ?
kinda surprised no one is taking them out for the cashmoney pickings.
So, their only major holder is Zeta who just went over 20% in late Sept last year
Zeta's mandate is (from their website) ""The investment aim of Zeta Resources is to maximise total returns for shareholders by identifying and investing in resource assets and companies where the underlying value is not reflected in the market price"
I guess the fear is that they burn a lot of cash in the interim with head office costs whilst doing nothing and getting nothing for their cash. I think its Forsyth Barr in their analysis that discount the shares by about 14 cents per share on a discounted cash flow basis for this sort of thing but that to me also seems a bit extreme... (just quoting figures from something I read a whole while back and I could be wrong here...)