There is some efficiency with size but the answer to your question is the later. Their bigger size will give them more scope to do have a rethink about their business model.
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So it was approved after yet another round of twiddling. [ Announcement ]
best wishes
Paper Tiger
SparkyTheClown Out of Interest what was the offer TIA
SparkyTheClown Thanks
Up to $2.35 now
I took a few in the placement - scaled back a bit in fact. Seems to have been well received by the market which has them now at $2.35.
Must admit that my logic for investing in them is a bit flawed in that I regard RYM as the superior company/investment but have been too mean to add to my current holding recently - waiting for the dips! With reasonable management all companies in this sector should prosper.
I like the sector, Sparky, so at this stage it's into my longterm portfolio. May look to "swap" it for some more RYM at some time in the future depending on the two companies' relative performances.
Realistically, I'd expect the SP to come back a bit as the hot money takes its cut although it seems to be holding up well today on solid volume.
The share price has been on a fairly steady march upwards over the last month, rising from $2.35 to $2.75. That is despite a number of new shareholders being well 'in the money', having picked up shares from RVNZ for $2.20 just one month ago.
I suspect profit taking will kick in shortly, which will halt the march upward. Once some of that selling has been absorbed you would hope that the price settles closer to the (post merger) NTA of $3.20, as both SUM and RYM trade well above their NTA. Of course, MET directors will need to provide some confidence to the market that they are doing a good job and that the merger has been successful.
Well less than one month on from my last post and the price has continued marching upwards to levels last seen in 2008. Of course the company's price isn't alone in this regard, especially when you compare it with the RYM and SUM charts.
The positive for MET is that they are still trading below their post-merger NTA of $3.24. This compares with RYM and SUM, who both trade signficantly higher than their NTAs. The negative is that there is limited visibility on how the merger is faring - we'll probably get an update at the AGM in October.
...seldom do I see ... no sellers....
Giday sparky....can you release that doc from GSachs....and when you say MET is cheaper than RYM........surely the SP is no reflection on the value of a company ....like RYM could have another 5/1 in the near future (again)...if you get my drift....the company retains the same value....cheers