NZ Oil & Gas (NZO)

[mistaTea]

I would be surprised if a material amount of minority shareholders are aware this forum even exists, but.....

I met with Alistair McGregor on Saturday. He lamented that there are over 5,000 shareholders - given how poorly the FOR vote is doing, that's a lot of people to try and cold call and beg to sell their shares.

Half of those shareholders hold small parcels of shares (less than 2,000) and were never going to be particularly interested/motivated anyway (and certainly not for the crumbs that have been offered).

I mean, if you owned 1,000 shares (for example)... if you even bother to take an interest in what is going on...what are you likely going to do? Take $620 from OGOG now or stick around to drill Ironbark (where your 1,000 shares could be worth 5, 8, maybe 10 grand)?

[peat]

I know for a fact that this scheme of arrangement has failed

Hey Fish
is this really a fact or a very strong opinion?

[blackcap]

Interestingly I see they have announced an AGM on the 12th Dec. Surely if the SOA was going to be successful there would be no need for an AGM (one that current shareholders would attend)?

[digger]

Interestingly I see they have announced an AGM on the 12th Dec. Surely if the SOA was going to be successful there would be no need for an AGM (one that current shareholders would attend)?

Probably given us time to think about changing these two fake independent directors for real ones.

[blackcap]

Probably given us time to think about changing these two fake independent directors for real ones.

I wonder if they are up for re-election this time? I will be voting against that as well give the opportunity. That said if OGOG want them there then they stay there.

[airedale]

[QUOTE=blackcap;773262]Interestingly I see they have announced an AGM on the 12th Dec. Surely if the SOA was going to be successful there would be no need for an AGM (one that current shareholders would attend)?[/QUOTE

I see that the wording for the notice of the AGM is that a meeting is expected to be held. Am I reading to much in to that? {conspiracy theory]?

[fish]

Hey Fish
is this really a fact or a very strong opinion?

I cannot prove it but I know enough voting against it to ensure it has failed.
I guess you will not know until the special meeting.
My expectation is that this will not happen as planned.
OGOG should know by now they have been ill-advised to make such a low ball offer which has backfired in more ways than one.
My understanding-and I could be wrong as I have not seen it in writing-that this scheme of arrangement allows ogog to increase the offer and postpone the meeting

[mistaTea]

Hey Fish
is this really a fact or a very strong opinion?

I can now confirm that, even if 100% of eligible minority voters turnout (which won't happen - not by a long shot) even then we have more than 25% AGAINST.

Fish has given a fact.

[mistaTea]

[QUOTE=airedale;773265]

Interestingly I see they have announced an AGM on the 12th Dec. Surely if the SOA was going to be successful there would be no need for an AGM (one that current shareholders would attend)?[/QUOTE

I see that the wording for the notice of the AGM is that a meeting is expected to be held. Am I reading to much in to that? {conspiracy theory]?

I just hope they cancel the special meeting to save on costs. They know damn well they won't get enough votes now (not nearly enough).

[mistaTea]

My understanding-and I could be wrong as I have not seen it in writing-that this scheme of arrangement allows ogog to increase the offer and postpone the meeting

Correct, there is nothing to stop OGOG increasing their offer to an acceptable amount. It might delay the process by a few days (i.e. the special meeting might need to be moved) but that is all.

If they were only ever interested in using a low share price to try their luck at grabbing the rest of the business for chump change (and not actually being prepared to ever pay a fair price) then I would not hold my breath for an increased offer.