Would just about say he might have been headhunted. Probably smaller than Progressive and less moving parts. I wonder if Blue Sky will try to get their Gore beef plant operational again.....
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Couple of weeks until they likely report.
Not a holder but from a SFF perspective, always interesting to see how other companies perform.
Not too much newsworthy, or if can read much into it.....
2021_Blue_Sky_Meats_(NZ)_Ltd_Annual_Report.pdf (usx.co.nz)
Blue_Sky_Meats_-_USX_Corporate_Action_-_2021_Dividend.pdf
Although someone liked it - actually traded today and up 10c!
Hmmmm, put in a trading halt this morning.......pending announcement.
If had to guess, then maybe Binxi were having another go at a takeover. They are the largest shareholder with just under 20% now, but tried about 4 years ago and then withdrew their offer after reviewing forecasts, and not receiving OIO approval.
They had 96% acceptances at $2.20. Microsoft Word - NXBinxi-BSM-Offer-Withdraw -310317 fin.docx (usx.co.nz)
Lowe Corp own about 18%, Richardsons own 17% and Blue Star Corp own 11% and can't see any one of these trying a takeover. After this, biggest shareholder is 1% and expect that alot of the smaller shareholders are their suppliers, looking at their share register.
Of course, all pure speculation, and no doubt will be completely wrong! ;)
Picked the takeover, just not who was the takeoverer....:sleep: And looks like completely wrong on Richardson's/Lowe's not taking over.
$3.00/share a healthy premium on the last price of $1.30.
Blu_Takeover_7_March_Announcement.pdf (usx.co.nz)
Southern Lamb Investments - Shareholdings (companiesoffice.govt.nz)
They own circa 35% of the company between them already, so should be able to get another 15%?? If Binxi got 96% at $2.00 then should get enough to get over the line at $3.00.
Looks like a good solid move! Values the company at about $35m, and can effectively get control for another $5-6m. Although may have to buy the lot, although Richardsons would have deep pockets, and already putting a substantial amount into the Invercargill CBD development. Lets see what Binxi does......
I bet you the seller with 9,000 on offer at $1.28 is absolutely stoked!! :t_up:
And to think I thought they were not worth buying at $1.30...
Wrong again...lol