http://www.nzherald.co.nz/business/n...ectid=11957989
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A day of announcements;
1. OG Oil & Gas receives approval from the Overseas Investment Office for its partial take over of NZO.
2: Rodger Finlay resigns as chairman and from the board
3. Duncan Saville resigned from the board.
Boop boop de do
Marilyn
[QUOTE=Marilyn Munroe;696569]A day of announcements;
1. OG Oil & Gas receives approval from the Overseas Investment Office for its partial take over of NZO.
So the partial takeover will happen.
The date has been postponed twice.
It is unclear to me when shareholders who have accepted the offer and in effect have passed control/ownership of their shares will be paid.
It would be appreciated if anyone could tell me this date
Should those who didnt sell expect another dividend?
"Rodger Finlay has led the company through a challenging time of reduced
costs, a capital return and the restoration of dividends.
asked the computershare people about timing of payout, and the emailed reply said:
"It appears that it will now be towards the middle to end of January before they will pay out."
Thanks scamper.
I have also asked asb securities to investigate.
It appears to me that with each extension to the offer OG have more time before they can choose when the offer becomes unconditional-payment could be as late as mid-february-but could be anytime from mid-jan(which is when I need the money so I have asked for my margin lending limit to be increased )
It has now gone unconditional, and those who accepted the offer should be paid before, or by the 19th January. Next Friday.
They didn't get acceptances for much over their upper limit, so scaling shouldn't be too high. Will probably leave me with a stupidly small holding on our joint holding.
We have retained the majority of our shares in separate accounts, so now looking forwards to some progress with this company-hoping the new board will turn things around as has been the case with NWF and their new board/direction.
Good luck to everyone that made the decision to hold.
I note major shareholding change due to Takeover reduced by 92.56%. I presume this will be the scaling we can expect tomorrow ....