No TTG, you did not look at the detail, the first release was through the sharemarket and the second was an article by Jenny Ruth, who has commented on NZF in the media for some time, if you read the two again, you will note subtle differences!!
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No TTG, you did not look at the detail, the first release was through the sharemarket and the second was an article by Jenny Ruth, who has commented on NZF in the media for some time, if you read the two again, you will note subtle differences!!
Oh, my reader was missing a whole page for some reason so I missed that some had already commented on the two press articles and that they had different information, we should know the detail of the structure shortly when the independant report letter goes out to shareholders for a 50% acceptance of the share sale to Resimac!
Enumerate Why do you think the Govt did not want anything to do with him over SCF. Any interest I had in NZF has now gone
OK, we now have Mike about to do a Bishop Brian imitaiton in that early morning advertising space on TV. http://www.stuff.co.nz/business/indu...ffering-TV-ads Innovative - not really. This tried and burned: http://www.sharetrader.co.nz/showthr...Estate-Chanell . And don't be fooled into thinking this is about advertising property - its about raising awareness of Brand Pero at the sellers expense.
Out of the top 20% of real estate agents only 23 of them want to join the team. If it was such a great proposition there would be more
Yes 50% under NZX rules by Ordinary Resolution, as over 50% of Market Capitalisation, but would require 75% as a Special Resolution, if transaction was over 50% of ASSETS
so come on you clever clogs, with an up to date balance sheet, work out the upper value of this transaction - we know its over $1.9m (50% of MCAP of 3.8m)
Home Loan Assets were valued at $204.2m so holders will no doubt be anticipating an injection of at least $102.11m. I suspect thought that Reismac will have its eye on the corresponding $204.9m in liabilities.
How about I make a punt at 3 x profit or round it to $5m
Edit: NZF have said S129 doesn't apply so not a major transaction - being 75% of assets. NZF are silent one what a majority shareholding actually means so lets assume its a tad less than 100% of Home Loans.