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  1. #12001
    Legend Balance's Avatar
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    Quote Originally Posted by snigmac View Post
    These agreements (even when highly likely to finalize) are highly conditional agreements. In addition to due diligence clauses, there will potentially be a confidentiality clause aswell, as this is a commercially sensitive matter (the parties will both be well represented). We won't get an update on the sale until it's unconditional.
    Depends on the sale process, a S&P agreement can be rather tight around conditions.

    One of the sale process of a huge piece of dirt in Flat Bush Auckland was conditional only on Council's confirmation of the sub-division plan. All other conditions (due diligence, finance etc) were considered satisfied when the final two bidders were invited to put in their final bid.

  2. #12002
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    I'm just saying that it is a easily defendable position for SKT to not disclose updates on the sale of the property based on the confidentiality clause that is likely to be in the agreement and the conditional basis of the agreement.

  3. #12003
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    Quote Originally Posted by snigmac View Post
    I'm just saying that it is a easily defendable position for SKT to not disclose updates on the sale of the property based on the confidentiality clause that is likely to be in the agreement and the conditional basis of the agreement.
    Without 34A Leonard Road there is no development and therefore there will be no conditional sale. All this because management didn't have the foresight or IQ to purchase the property when it came up for sale 24 months ago!

    Now it will be sold to a middleman who will likely pocket millions when they get it rezoned - which is all but a given.

    SIMPLE GAME OF MONOPLY HERE FOLKS! 5 YEAR OLD STUFF!



    The only good news I can see is that the sale might be delayed because Discovery or Comcast are having a good look at the site and are thinking about long term prospects of setting up a big studio or production facility!
    Last edited by Ogg; 26-11-2021 at 10:35 AM.

  4. #12004
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    My understanding is that they don't need 34A to proceed with a development, however, it will be abit more expensive (for the developer). There are rules around withholding consent when it is unreasonable to not provide consent.
    Last edited by snigmac; 26-11-2021 at 11:42 AM.

  5. #12005
    Senior Member jimdog31's Avatar
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    You gotta be kidding me!

    https://www.directbroking.co.nz/dire...spx?id=5876464

    Announcing strengthened leadership team , would have been the right moment to mention Pooman leaving the country right???

    Sick of this board.

  6. #12006
    Investor
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    Quote Originally Posted by jimdog31 View Post
    You gotta be kidding me!

    https://www.directbroking.co.nz/dire...spx?id=5876464

    Announcing strengthened leadership team , would have been the right moment to mention Pooman leaving the country right???

    Sick of this board.
    More nuggets in the newsletter, should hear soon about property sale sometime in Dec. Looks like someone from company has been reading this thread and shareholders agony over past few weeks.

  7. #12007
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    Nov 2013
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    Quote Originally Posted by jimdog31 View Post
    You gotta be kidding me!

    https://www.directbroking.co.nz/dire...spx?id=5876464

    Announcing strengthened leadership team , would have been the right moment to mention Pooman leaving the country right???

    Sick of this board.
    I'm actually happy. Good communication. Action plan in early December.



    They have a reprieve from me for the next 4 weeks.

    I'll start drilling them again from next year.


  8. #12008
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    December is looking like the big month here!!!

    Once the "Foxtel cost review" is complete and the property is sold, any potential takeover or merger would like happen either at the same time or soon after.

    If there's no takeover or merger, than dividends will resume in February.

    Personally, I believe a takeover or merger is the best way forward long term and they need to execute this regardless of valuation.

    Hardcore believers like MT will likely stay on and see it through, but I'll have big decision to make come February if Sky is still a stand only entity.

    Transformative times here. Best of luck everyone!!

  9. #12009
    Junior Member
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    Ogg you’re so positive today!

  10. #12010
    Senior Member
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    I got the impression from today’s “Investor newsletter” that dividends or share buybacks are off the table.

    The Board is committed to recycling capital to reinvest in areas of the business that create the most value for our customers and, ultimately, our shareholders.
    Share price hasn’t budged today on this update.

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