Who knows where this is heading now..... I'm glad to have gotten out. Re thinking my portfolio back in Feb I decided this wasn't for me so out of NZR and averaged up my ATM. Happy I made the switch. Good luck to holders.
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Any feedback people on today's margin of 6.58
A bit short of what I expected too was expecting over 7
Is the shut down repeat each year
Remits for AGM 3 May 2017
There are a couple of resolutions put forward by B Halliwell and H Waite, if I can recall correctly I think they (or similar) proposals were also tabled at the last AGM. Can someone with a greater insight into what has been proposed let us know what this really means to a average punter.
I think I abstained last time, but for them to be table these again raises the question, these guys must be sincere in what they are proposing.
I note the independent directors do not support the remits.
They never do, and Mr Halliwell is submitting for years. I didn't check this years submission (currently not a holder), but he previously highlighted that the system to calculate the refining fee is unfair to small shareholders (indeed to all shareholders but the oil companies). Obviously - the board always finds experts with a view that Mr Halliwell is wrong, the system fair and the board right.
He very well might have a point, but given that NZR is majority owned by the oil companies it does not matter. The big will always trump the small holders. Better get used to it or sell out.
Different units of the refinery get shut down every year. Last year was the hydrocracker (known as the money unit). this years shut down was the A block which is the Crude Distillers. So less thruput but not less margin.
Singapore complex margins are high so Mar/Apr could be a good set of results.