Originally Posted by
Chippie
I wonder how much we are continuing to pay for any of the directors? They have sat on a war chest of capital for such a long time unable to make any investment decisions. And now they want to screw over all minor shareholders just before they have some really interesting prospects.
To make it worse the Takeovers Panel have also rolled over which shows what is wrong with the NZX and even the NZ government for continuing to let oversea companies rip on New Zealand shareholders over and over again. E.g. Southern Petroleum.
It is a real shame that OGOC already own so much of the company, that is what stops any other offers. ACC would be in great position of making a counter offer to take over for all of NZO at ~ 78 cents, although the current Government would be the problem with that idea.
Really disappointing that the average NZ investor is on a hiding to nothing with no support from any corner, except for perhaps Bryan Gaynor and the NZ Herald?
Good luck to everyone especially our larger minor shareholders such as Digger and mistaTea!