But why would anyone want to sell one million before the offer is out?
At 2.83!!!
What form of currency is the convertible note - how liquid will it be?
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But why would anyone want to sell one million before the offer is out?
At 2.83!!!
What form of currency is the convertible note - how liquid will it be?
'cos they don't have a lot of faith in it actually happening and/or they put a different value on the consideration offered by the Canadians.
The last one fell over remember.
I see the note that shareholder approval is required for the partial takeover without having to go for the full takeover. This shouldn't require a lot of thought for the two major shareholders - they only have to abstain and the remainder will surely approve? What percentage does this vote require?
Not political problem as long as the councils don't sell - as they shouldn't. Perhaps they might like to increase their stake or push for a cash bid on behalf of the minor shareholders.....
This offer is obviously a sham.
Now why do you think that B?
Is it because it smells a bit like the Powerco one a couple of years ago when the New Plymouth Council threw in the towell and sold their silver to plundering Australians and the small shareholders lost out on a nice little growth oriented share market listing (got stuffed)?
Or are you like me in that cash is easier to understand?
NEVER forget it CASH is always KING..
Well the offer documents arrived in the mail this morning - It will take a while to read all the material though.
i see in todays paper the board intends mailing out 100 pages of material to shareholders.
Seems a shame that one can't just log onto computershare and tick a box for "ain't interested in receiving". !! Rather save a few tree's meself.
20 cents cash plus summit that has a whiff of SIV / CDO about it.
thanks, but no thanks.
I notice in the IFT update that the NZX have relaxed their rules regarding posting hard-copies of annual/interim reports. Personally, I'm quite happy download PDF copies.
Will be interested in reading the documents, however I cannot see this takeover proceeding given the current ideological bent against foreign ownership of key NZ assets - even if sometimes it is based purely on emotion.