ANZ's problem remains.
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ANZ's problem remains.
Probably not exactly a long queue of buyers, but interesting selling to a Veritas director - how does that process and conflict of interest work? Interesting that he thinks that after being a director of the company running the Butch, he can do better by owning it?
Dis: Never have, and never will be a shareholder
Two quotes:
“There’s only one Alan Bond in your life!” Kerry Packer
“They need to take a good hard look at themselves” Sir Peter Leitch
Its hard to believe they can keep up the charade of a listing with a straight face. Quite obvious this is in a managed wind down, even said as much in a behind the paywall article on NBR the other day. Anyone who thinks there's any value remaining in this company for shareholders would be better off believing that Santa really does come down their chimney with the presents. Whoever is bidding for ~ 300,000 shares at 5 cents must like making $15,000 donations. ANZ calling ALL the shots and hoping to minimize their losses in my opinion. If you have a really old car with a completely knackered engine you take a few hundred dollars from the scrap metal merchants rather than just letting it rust to nothing on your driveway. Same principle applies to selling penny dreadfuls.
Pity the annual stock picking competition doesn't allow us to go short on some stocks, this would be a guaranteed winner !
https://www.stuff.co.nz/business/101...lier-thousands
Not Veritas anymore but another train wreck... in the same train. Sucks if the cleaners have not been paid... likely they can afford least to sustain that loss of income. Let's hope no one else decides to have a crack at riding this dead horse.
https://www.nzx.com/announcements/317253
ANZ are allowing them to linger a little longer. Who on earth would want to pick up refinance funding for this?
"This extension was agreed to enable the Veritas Board to continue its active discussions with a new funder regarding a refinance of the Veritas group’s ANZ debt facilities in their entirety."
Dead man walking