AIR - Air NZ.

[couta1]

Attachment 8088

So the rebalancing wasnt on today, but todays prices affects rebalancing.. so there was a push to prop prices up to reduce rebalancing?? am i getting this right or am i sleep deprived...

The last trading day of May is used as a reference day for data used in determining any index changes at the forthcoming review date, so in essence you are correct. PS-Toys and Cots are far easier to understand aye. PPS-Yes Roger a serious window dressing day. If anyone wants to get into this in more depth I'm going to throw all my toy planes out of the cot.

[smtrader]

The last trading day of May is used as a reference day for data used in determining any index changes at the forthcoming review date, so in essence you are correct. PS-Toys and Cots are far easier to understand aye. PPS-Yes Roger a serious window dressing day. If anyone wants to get into this in more depth I'm going to throw all my toy planes out of the cot.

boy do i regret breaking my rules all the time.. i should just take a vacation .. should've listened to massey's research 'sell in may an go away'

[Joshuatree]

I go to the source ,the NZX for any of this stuff and X div dates etc; its all there to easily confirm.
Rebalancing
Most S&P/NZX Indices are rebalanced quarterly, effective after the market close of thethird Friday of March, June, September and December. The rebalancing reference datesare after the market close on the last trading day of February, May, August andNovember, respectively. Both market capitalization and liquidity are assessed using theprevious six months’ worth of data to determine index eligibility. Shares and InvestableWeight Factor (IWF) updates are also applied regularly. The S&P/NZX Real EstateSelect Index is rebalanced semi-annually, effective after the market close of the thirdFriday in March and September. The rebalancing reference dates are after the marketclose on the last trading day of February and August respectively.
Announcements are made on the second Friday of each rebalancing month; therefore, aone-week notice period is provided before the rebalancing takes effect.
Eligible stocks are considered for index inclusion based on their rank relative to the statedquota of securities for each index within the S&P/NZX hierarchy. In order to limit thelevel of index turnover, eligible securities are only considered for index inclusion in fixedconstituent count indices once another stock is removed due to a sufficiently low rankand/or liquidity, based on the float-adjusted market capitalization. Potential indexadditions and deletions must satisfy buffer requirements in terms of the rank of the stockrelative to a given index. The buffers are established to limit the level of index turnoverthat may take place at each quarterly rebalancing, maximizing the efficiency and limitingthe cost associated with holding the index portfolio.

[Raz]

boy do i regret breaking my rules all the time.. i should just take a vacation .. should've listened to massey's research 'sell in may an go away'

Last time I took a vacation I sold out and did not catch the falling knife. Happy to cash in an average 18c per share gain today in less than a week on 225000 shares. Why worry about bank deposits this is a lot more fun! That Massey research suggests another holiday??

[winner69]

I don't think Singapore will be interested in a takeover now - or increasing their share

One less interested party in Air NZ shares

And won't that 30 cents that HNA paid be the ceiling now?

[workingdad]

And won't that 30 cents that HNA paid be the ceiling now?

May I ask the experts, is this VAH share issue to HNA in reality a deal done or is there requirements for it to happen - ie a company like VAH can simply dilute its share holders value by issuing more shares without majority shareholder support and offer something more to those share holders than simply gathering earnings from doing so?

My thoughts on the VAH sale, lots of ifs buts and maybe's but worst case is AIR doesn't shift them and they are included in the profit/loss EOY results, close today was 30c AU so round it to 33c NZ. What will be the start value to calculate the profit loss? I recall something like 50c but not sure.

If HNA are good for VAH which I presume they are, one could expect the VAH share price to continue to recover to some degree particularly if the remaining 6% HNA want to buy is an on market or perhaps they are already talking to AIR about buying this much from them to get to the 19.9% they want and AIR are selling the rest to someone else or holding onto the remainder.

I don't think this will eventuate (AIR holding on to a significant portion of VAH) and they will sell VAH and for a reasonable amount although not significantly more than 30c.

June will be an interesting month....

[777]

May I ask the experts, is this VAH share issue to HNA in reality a deal done or is there requirements for it to happen - ie a company like VAH can simply dilute its share holders value by issuing more shares without majority shareholder support and offer something more to those share holders than simply gathering earnings from doing so?

My thoughts on the VAH sale, lots of ifs buts and maybe's but worst case is AIR doesn't shift them and they are included in the profit/loss EOY results, close today was 30c AU so round it to 33c NZ. What will be the start value to calculate the profit loss? I recall something like 50c but not sure.

If HNA are good for VAH which I presume they are, one could expect the VAH share price to continue to recover to some degree particularly if the remaining 6% HNA want to buy is an on market or perhaps they are already talking to AIR about buying this much from them to get to the 19.9% they want and AIR are selling the rest to someone else or holding onto the remainder.

I don't think this will eventuate (AIR holding on to a significant portion of VAH) and they will sell VAH and for a reasonable amount although not significantly more than 30c.

June will be an interesting month....

Roger is smarter than me but as they equity account the investment then the profit/loss will be their holding % of VAH 's profit/loss for the year. The investment at this stage is a capital one.The year they sell will give a capital profit/loss on the original investment cost.

[Baa_Baa]

Last time I took a vacation I sold out and did not catch the falling knife. Happy to cash in an average 18c per share gain today in less than a week on 225000 shares. Why worry about bank deposits this is a lot more fun! That Massey research suggests another holiday??

Nice, savvy too, you should post more about your insights and trades, just saying. SP today tested resistance, pulled back and closed right where a TA would expect (anticipate, hope?, Lol) it too. Could be up tomorrow, could be a DCB and pull back further from here. Lots of coulda woulda shoulda going on today ... makes it interesting.

[winner69]

Roger is smarter than me but as they equity account the investment then the profit/loss will be their holding % of VAH 's profit/loss for the year. The investment at this stage is a capital one.The year they sell will give a capital profit/loss on the original investment cost.

When Luxon packed a sad and resigned from the Board (and Air said they were selling) Air ceased equity accounting Virgin

At the moment the holding is just held as an 'investment' (on Balance Sheet)

[Raz]

And won't that 30 cents that HNA paid be the ceiling now?

Hard to tell without knowing all the parts and players..certainly the calculus is different.