NZ Oil & Gas (NZO)

[mistaTea]

Who knows what has gone on behind closed doors.

One thing that I think is likely though - Matthew Boyall (Cue CEO) must have been pretty pissed off when he read that NZX announcement on 13/09. It completely contradicted the spiel he and his team gave to investors at the Good Oil Conference.

These investors are buying up Cue shares right now in part due to the strong case he has (quite rightly) put for Ironbark. It absolutely could be a game changer, and the odds of success are better than average.

So, to wake up two days later and see a NZX announcement savagely contradicting this position and highlighting a study that has low balled the success rate to only 5% must have been quite something. If it were me, I would be furious.

If there is any truth to my comments (and I appreciate that I am speculating here) then either John went rogue or he has been stitched up.

We will probably never know the full story. However he was only promoted to his current role on 28/02/19 - barely 6 months in.

[BIRMANBOY]

I just had an unsolicited call from NZO asking if I had received the details and reminding me that the independent directors have unanimously voted to accept the offer LOL. Must be getting anxious in the boardroom

[fish]

I just had an unsolicited call from NZO asking if I had received the details and reminding me that the independent directors have unanimously voted to accept the offer LOL. Must be getting anxious in the boardroom

Clearly they must be trying to get everyone to vote.
I wonder if this is allowed-it could be construed as misleading by lacking balance-you could always check with the takeovers panel

[Vaygor1]

Clearly they must be trying to get everyone to vote.
I wonder if this is allowed-it could be construed as misleading by lacking balance-you could always check with the takeovers panel

I think this is yet another dirty tactic to add to the list of their already dirty tactics.

The SoA booklet is meant to supply all the salient information including the means to vote.

An unsolicited phone call does not, and can not, convey the issues around risk and reason set out in the SoA, which is the whole reason for requiring a booklet in the 1st place... so shareholders can make a 'considered' decision based on the booklet's existing spin.

These unsolicited and I think manipulative phone calls will also work against the board if the voting results allow for this fiasco to proceed any further.

Speaking of process, I understand approval of the scheme requires NZX's approval (seeing as NZO is listed) as well as approval from the Takeovers Panel. Any letters of concern sent to one should also be addressed and sent to the other.

[Sideshow Bob]

I just had an unsolicited call from NZO asking if I had received the details and reminding me that the independent directors have unanimously voted to accept the offer LOL. Must be getting anxious in the boardroom

Had you voted Birmanboy? I wonder if they call all shareholders?? Or just with decent holdings...…

Hope some of the bigger smaller shareholders like ACC don't just roll over and follow the independent directors.

[ordop]

They will target call the larger shareholders who haven't voted. ACC will politically vote for the scheme or so some think. OGOG may also have some larger sleepers on the shareholder list for this very situation but the only counter you and I have is to vote against and wait.

[fish]

They will target call the larger shareholders who haven't voted. ACC will politically vote for the scheme or so some think. OGOG may also have some larger sleepers on the shareholder list for this very situation but the only counter you and I have is to vote against and wait.

Agree this is what you might expect but in reality they may be wary or have difficulty in contacting the large holders who like their privacy.I know they have asked some of the larger holders to meet with Independent directors or OGOG .They will be wasting time and money if they try to find me.I have just voted my 2% against so they have to find 6% of non-ogog shareholders to balance that.
I know bigger shareholders voting against but may be waiting for the shareholder meeting end october .Hopefully if enough vote before this meeting it will be cancelled and we can move on

[Boffin]

No contact by email from NZO re: announcements etc - as requested. I only knew about the .62c offer by keeping my eye on this forum, as I have done for over ten years. Have voted my 35k against.

[BIRMANBOY]

Received all of the paperwork and details today in the post.

[fish]

Received all of the paperwork and details today in the post.

Thanks Boffin for letting us know that this problem appears to be resolved.
Also that you let us know your votes against.
Nobody on this forum has said they are voting for the scheme.If anyone is voting for the scheme it would be good if you could post.I am sure nobody would attempt to influence you and you would be well-respected for having stood up.It is really good to have a mix of thoughts and intentions and so far there has been no positivity about the scheme that I can see .