SKT Sky Network Television Limited.

[RGR367]

Should we take bets on what comes first?

NZX announcement:

1. Detailing the capital return; or
2. Notification that Sophie has 'resigned'

I'm not betting but a virtual toast if 2 happens first.

[nztx]

I'm not betting but a virtual toast if 2 happens first.

Head hunted by MW perhaps ? .. do they pay better ?

[cyclist]

I'm not betting but a virtual toast if 2 happens first.

I'd be a lot more interested in seeing our chairman's resignation.

[nztx]

I'd be a lot more interested in seeing our chairman's resignation.

Very good point .. how about the majority of the Board ?

[cyclist]

I'd be a lot more interested in seeing our chairman's resignation.

Not 100% sure how this works, but Philip Bowman and Joan Withers were last re-elected in 2019. Three year cycle - does that mean we get our chance to send a signal this year?

edit: here is the 2019 meeting notice: http://nzx-prod-s7fsd7f98s.s3-websit...809/308794.pdf

[mistaTea]

Not 100% sure how this works, but Philip Bowman and Joan Withers were last re-elected in 2019. Three year cycle - does that mean we get our chance to send a signal this year?

edit: here is the 2019 meeting notice: http://nzx-prod-s7fsd7f98s.s3-websit...809/308794.pdf

I would be sweating like crazy if I were them and they are coming up for election soon.

As I say, they have to pay out big time (and tell the market exactly how much the big payment is and how/when it will be implemented very very soon) if they are hoping to be re-elected.

If they just quit now that would look really bad.

If they get fired at the next vote that would be another humiliation.

They are in a very tough spot - and SM has led them down this disastrous path.

If they pay out the vast majority of cash they will probably keep their jobs. But they should know that they have been put on notice.

[snigmac]

I think Sky need to:
1) provide a interim update on how the company is doing. We have no idea how the roll out of the box is going, whether Neon numbers are still growing and etc; and
2) provide some numbers of what will be provided to shareholders. Given the disconnect in communication due to the MW deal, we have no idea what they are drumming up (and the market is likely to have forgotten prior details- i know i have).

[mistaTea]

I think Sky need to:
1) provide a interim update on how the company is doing. We have no idea how the roll out of the box is going, whether Neon numbers are still growing and etc; and
2) provide some numbers of what will be provided to shareholders. Given the disconnect in communication due to the MW deal, we have no idea what they are drumming up (and the market is likely to have forgotten prior details- i know i have).

In terms of the new STB toll out, we know exactly how that is going.

Terribly.

It hasn’t even started yet.

They are very late. In part because of a chip shortage worldwide.

But we now know that Sophie and the team have also been a tad distracted the last couple of months…

[snigmac]

It's not a great image when companies don't communicate things like this as shareholders will assume that 'no news' equates to the worst possible scenario. Looks like we will need to wait and see.

[Balance]

It's not a great image when companies don't communicate things like this as shareholders will assume that 'no news' equates to the worst possible scenario. Looks like we will need to wait and see.

One Sky shareholder I was talking to today said he bailed out of his stock in the rebound yesterday.

Not because he does not like the stock at this point of its inflectIon but because he does not trust the directors and management to make the right decisions for the business anymore.

So he is happy to take what gains were left (still substantial) and as he puts it, he prefers to sleep well.

I am more optimistic than him so here’s hoping I am right.