"Is PLEASED to announce its intention to delist from the main board of the NZX Ltd......."
https://api.nzx.com/public/announcem...452-418980.pdf
Printable View
"Is PLEASED to announce its intention to delist from the main board of the NZX Ltd......."
https://api.nzx.com/public/announcem...452-418980.pdf
Brilliant.
Bye bye NZ.
So, a name change must be next??
If it didn't have NZ in the name, it might garner a bit more ASX interest??
Yes, I would say that will be on the cards.
The Australian CUE investors often complain that they cannot buy into NZO on the ASX as there is no liquidity.
With the TEG drill next month we should see some activity on the ASX.
Delist date is June 24. Ie only one month. Moving fast.
Any chance they merge the two?
It's hard to say what their long term plans are. A successful drill in the Perth Basin would be agame changer.
They have CUE ticking along with decent cashflows. And the fact that CUE was shut out of the recent Mereenie deal sends a signal that they see CUE as the Indo arm.
Another one bites the dust
I agree that the Kupe drill outcome is not what we wanted. Who wants a dud drill.
But NZO has spread its wings further afield now with more positives than negatives.
Let's focus on the upcoming drill in the Perth Basin and the Central Australian operation. CUE is also going gang busters in Indo.
Moving the share trading 100 percent to Australia, where the appitite for giving things a crack is embedded into their culture should over time see some decent trading in the stock.
As for CEO incomes in NZ, it's easy to argue that the majority of CEOs salarys are not reflective of the current share prices.
Let's get excited about the Perth Basin opportunities. TEG and STX shareholders are.
CEO Compensation as a Percentage of Company Profit
- **Andrew Jefferies (New Zealand Oil & Gas)**
- Total Compensation: NZD 1.020736 million
- Net Profit: NZD 19.1 million
- Percentage of Profit: **5.34%**
- **Kevin Gallagher (Santos Limited)**
- Total Compensation: AUD 6.2 million
- Net Profit: AUD 2,100 million
- Percentage of Profit: **0.30%**
- **Meg O'Neill (Woodside Energy Group)**
- Total Compensation: AUD 5.6 million
- Net Profit: AUD 1,980 million
- Percentage of Profit: **0.28%**
- **Morné Engelbrecht (Beach Energy)**
- Total Compensation: AUD 3.1 million
- Net Profit: AUD 504 million
- Percentage of Profit: **0.62%**
Andrew Jefferies' compensation at 5.34% of NZOG's net profit is notably higher compared to his peers at larger firms, who range from 0.28% to 0.62%.
I do agree, don't get me wrong. I just don't think it's worth wasting energy on because say you trimmed it by 200k, split over 200m shares its worth nothing.
If we get a hit on a drill then the equation changes fast.
There is a good article on Business Desk explaining what today's KS 9 dud means. Probably not that material to NZO. But the extra income would have been welcomed.
It is the principle. By that logic you could double his pay and on a per share basis it is 'no biggie'. Not suggesting shareholders need to light a bag of dogsh1t on fire and leave it on his doorstep right now. But pointing out that he is grossly overpaid (and has been for years) relative to the size of the business and relative to his peers.
Sure, but that is speculative. Get the big hit on a drill first, then lift his pay accordingly if need be. The idea that he gets paid at a rate way above his peers now because he might have purchased the winning lotto ticket is foolish, in my view.
Anyway, nothing any of you can do about it even if you wanted to. OGOG determine his pay, and they are obviously quite happy with the current situation.
I just think you are being scammed.
Shareholders should be happy today with the NZX delisting and moving 100 percent to the ASX.
Surely this also qualifies for a delisting from the Share trader forum too on June 24. Where is the paperwork, I'm more than happy to fill it out to make it happen.
I think we are better off chatting about NZO on the Aussie sites once the liquidity has been moved over. Highlight on TEG, CUE, STX chats etc. Get some new investors on board who want to hold and go on the journey. The Australian investors have a good understanding of mining in the areas where NZO are based.
Just look at what happened to the CUE share price once the dividend was announced. It's up 100 percent. And CUE don't have exposure to the Perth Basin drill etc.
There is an article just posted on Business Desk re the delisting.
There is also the inference brought by others at an AGM a few years ago, that he is doing a bit of work for OGOG and using NZO resources to do that. There is of course the bit where OG pay NZO for his time, but how do you audit that?
p.s I am not inferring myself that that is going on, but these questions cannot be adequately answered and that leads to a loss of trust, especially how they bungled the takeover via SOA a while back. The question then and remains for me is the independence of the independents.
I wonder if the tax will be handled differently, like CUE, nothing deducted.
Can you be more specific? What do you mean by "tax to be handled differently"?
NZO is a NZ company under NZ companies Act and a tax payer in NZ.
I think Cue is an Australian company and subject to the Australian tax regime.
So there will undoubtedly be different tax considerations.
If you are referring to the dividend, then as the are a NZ company, they will deduct RWT for NZ resident taxpayers.
Cue of course does not do that and nor should they.