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26-11-2021, 07:47 AM
#11241
Member
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.
Last edited by snigmac; 26-11-2021 at 07:52 AM.
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26-11-2021, 08:33 AM
#11242
Originally Posted by snigmac
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.
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26-11-2021, 11:08 AM
#11243
Member
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.
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26-11-2021, 12:41 PM
#11244
Member
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 12:42 PM.
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26-11-2021, 01:58 PM
#11245
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.
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26-11-2021, 02:05 PM
#11246
Originally Posted by jimdog31
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.
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26-11-2021, 03:05 PM
#11247
Member
Ogg you’re so positive today!
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26-11-2021, 03:09 PM
#11248
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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26-11-2021, 03:12 PM
#11249
Member
If that’s the case, I’m very interested to hear about their plans to deploy the prodigious FCF Sky is generating. Even more so after the funds from the property sale come in
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26-11-2021, 03:19 PM
#11250
Banned
Time to chill out and wait for Decembers announcements. Seems like the board have got the message...
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