NZ Oil & Gas (NZO)

[digger]

Hi Digger-this is wrong thread but related.
Zeta are going to court on Monday to get their takeover ppp approved-if you want to object get your affadavit sent today.
If you do nothing you will get Zeta shares-Chris from asb securities has looked at it and NZ shareholders do not get their Zeta shares sold for them-I dont know about you but on face value this looks a better deal.

hi fish, I have thought about it and decided that as I am going to stay[fight] the NZO takeover that I see coming so I do not want to fight the PPP thing or have shares in Burmuda,as I have other uses for the money that might be better.
Good luck with those that take the Zeta shares.

[fabs]

Offer seems to be somewhat vague on OPTIONS, given the low 74 cents per Share Offer.

Would pref. and sure some other S/Hs would too, selling all their holdings without paring them down to and by whatever amount.
If surplus shares offered over 50% can at OGOGs discretion proportionally be reduced, one rather would have them all back unless otherwise specified.
As ending up with possibly an only 30% or less parcel to ones whole former holding.
As they stated, could result in quite a considerable drop in the S/P post OFFER becoming unconditional.
Making the whole exercise a waste of time & money for S/Hs.

Nothing stopping a third party over time mopping up small parcels coming on the market.
That puts the 74 cents offer Price into a different perspective surly???

[fish]

now the offer has been extended to 9 th december it seems to give og all the cards and no date as to when they have to pay for them yet they get control of your shares as soon as you accept. I really dont like this.

[blackcap]

now the offer has been extended to 9 th december it seems to give og all the cards and no date as to when they have to pay for them yet they get control of your shares as soon as you accept. I really dont like this.

Just do what I did. Have the form ready to go but do not send it until about the start of December.

[Grimy]

Will O.G. have to give regular updates to the market about what acceptance level they are at? And if so will that be shown on the ANZ Securities web site on the NZO ticker?
If not, is there somewhere else we can get this info?
It would be nice to see where it is heading for those not sure which way to jump.

[blackcap]

Will O.G. have to give regular updates to the market about what acceptance level they are at? And if so will that be shown on the ANZ Securities web site on the NZO ticker?
If not, is there somewhere else we can get this info?
It would be nice to see where it is heading for those not sure which way to jump.

Not sure how often they have to update, but if they do it will be at nzx.com and that flows through to most brokers platforms. ie when a company makes an announcement you normally see it under "news".

[Grimy]

Thanks Blackcap. Hopefully there will be regular updates. Would certainly help in making a decision.

[fish]

Thanks Blackcap. Hopefully there will be regular updates. Would certainly help in making a decision.

Maybe
Maybe not-it makes sense to leave the decision until the latest-at the end of the first week of December as Blackcap suggests.
I cannot find a date that OG have to pay for the shares.
Have asked ASB securities and they asked computershare-no answer yet!
In the meantime oil prices are moving up and I think the nz dollar is falling-the combined effect has probably meant the offer is already below the fair value

[peat]

Maybe

I cannot find a date that OG have to pay for the shares.

I would imagine only when the offer goes unconditional. Which given they want 70% could be a while.

Yes these takeover situations seem a bit unfair on the holders who accept in that you relinquish authority and yet have no bucks in the bank.

[blackcap]

I would imagine only when the offer goes unconditional. Which given they want 70% could be a while.

Yes these takeover situations seem a bit unfair on the holders who accept in that you relinquish authority and yet have no bucks in the bank.

I thought they wanted 50%? Help.

Anyone else going to the meeting tomorrow?