NWF - NZ Windfarms

[Crackity]

Behind the NBR paywall:

Or you could have read it here a month ago Harvey

Originally Posted by BlackPeter
I think you might be right ...



LET Securities of Wellington bought most of yesterday's shares and have 19.9 million shares( just under 7% ) though I note the following from their disclosure

Nature of relevant interest(s): Non-beneficial holder as proposed general partner of a proposed limited partnership.

Hmmmm - interesting....

and Bob ( not Sideshow as far as I know....) bought a few more and is up to almost 14%.....

- I think Vector may possibly not be in the drivers seat for much longer? Time this company made its shareholders some money

[Crackity]

Maybe it is in play?

Yes Crackity - maybe it is?

[BlackPeter]

Sounds like they managed to settle at least one of their long ongoing litigation concerns:

https://www.nzx.com/files/attachments/223785.pdf

Still subject to the approval from WTL shareholders, but it sounds like a win - win to me:

NWF gets 1 million dollars in cash plus convertible notes worth 10% of WTL as full and final settlement of the warranty issues. Obviously not covering all the cost (well, depends on how much 10% of WTL proves to be worth ... 70k at current market cap), but getting something out of WTL is better than getting nothing. Both companies can now focus on moving forward (instead of on litigation) and I can't see how an improved relationship between turbine supplier and turbine users could be anything else than beneficial for both.

Good they concluded this case ... consent issues next?

[Jantar]

It is now only 21 days to the NWF annual meeting and so far there is still no mention of the location. Nor any mention of the Agenda, lodging of proxies etc.

What is the minimum period for this?

[BlackPeter]

It is now only 21 days to the NWF annual meeting and so far there is still no mention of the location. Nor any mention of the Agenda, lodging of proxies etc.

What is the minimum period for this?

Last time I checked it was 2 weeks. As well notice on NZX plus putting the info in the mail is sufficient to keep the deadline - no matter, how long the mail needs to arrive.

Though obviously - companies are allowed to give more notice ... and many do.

Having said that - last year the notice went out 3 weeks prior to the meeting. If they stick to this roster, than the notice should be out today or tomorrow.

[Crackity]

Annual meeting - same place as previous - notice of meeting is recommended reading for shareholders! New directors with technical skills standing for election and a resolution that the board is requested to prioritize cost savings to enable payment of a maiden dividend in 2016......

[Crackity]

Trustpower will pay up to $125 million for local power company King Country Energy.
The King Country electricity generator and retailer has about 17,500 customers from Hamilton to Taumarunui and Turangi, and owns four hydro power stations in the region as well as one near Palmerston North.
Between them they generate an average of 191 gigawatts a year.

Based the on the same notional price paid per GW of generation NWF which generated 127gw in the year to June could be valued at 83 million ( or 28.8cps ) - possibly more if Edison did the valuation

food for thought eh

[gmatt]

Annual meeting - same place as previous - notice of meeting is recommended reading for shareholders! New directors with technical skills standing for election and a resolution that the board is requested to prioritize cost savings to enable payment of a maiden dividend in 2016......

The existing Board is certainly not looking for new blood!!! Surprising reading ....... I would think the 2 new nominees are just what the company needs (and they are large shareholders).

[Crackity]

The existing Board is certainly not looking for new blood!!! Surprising reading ....... I would think the 2 new nominees are just what the company needs (and they are large shareholders).

The existing board also doesn't support the resolution proposed ( reprinted below...) - seems like it should be a no brainer to me

Shareholders request the Board prioritise the identification of ongoing cost savings to enable the payment of a maiden dividend in 2016"

[Jantar]

The existing board also doesn't support the resolution proposed ( reprinted below...) - seems like it should be a no brainer to me

Shareholders request the Board prioritise the identification of ongoing cost savings to enable the payment of a maiden dividend in 2016"

The fact that they reject that resolution means they are not qualified to be on the board.