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14-12-2007, 02:17 PM
#111
Member
But why would anyone want to sell one million before the offer is out?
At 2.83!!!
What form of currency is the convertible note - how liquid will it be?
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14-12-2007, 03:26 PM
#112
'cos they don't have a lot of faith in it actually happening and/or they put a different value on the consideration offered by the Canadians.
The last one fell over remember.
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14-12-2007, 03:57 PM
#113
Member
I see the note that shareholder approval is required for the partial takeover without having to go for the full takeover. This shouldn't require a lot of thought for the two major shareholders - they only have to abstain and the remainder will surely approve? What percentage does this vote require?
Not political problem as long as the councils don't sell - as they shouldn't. Perhaps they might like to increase their stake or push for a cash bid on behalf of the minor shareholders.....
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14-12-2007, 04:39 PM
#114
This offer is obviously a sham.
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14-12-2007, 06:31 PM
#115
Member
Originally Posted by bermuda
This offer is obviously a sham.
Now why do you think that B?
Is it because it smells a bit like the Powerco one a couple of years ago when the New Plymouth Council threw in the towell and sold their silver to plundering Australians and the small shareholders lost out on a nice little growth oriented share market listing (got stuffed)?
Or are you like me in that cash is easier to understand?
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15-12-2007, 10:25 AM
#116
NEVER forget it CASH is always KING..
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15-12-2007, 04:29 PM
#117
Member
Offer Documents have Arrived
Well the offer documents arrived in the mail this morning - It will take a while to read all the material though.
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15-12-2007, 04:30 PM
#118
i see in todays paper the board intends mailing out 100 pages of material to shareholders.
Seems a shame that one can't just log onto computershare and tick a box for "ain't interested in receiving". !! Rather save a few tree's meself.
20 cents cash plus summit that has a whiff of SIV / CDO about it.
thanks, but no thanks.
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15-12-2007, 05:15 PM
#119
I notice in the IFT update that the NZX have relaxed their rules regarding posting hard-copies of annual/interim reports. Personally, I'm quite happy download PDF copies.
Will be interested in reading the documents, however I cannot see this takeover proceeding given the current ideological bent against foreign ownership of key NZ assets - even if sometimes it is based purely on emotion.
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15-12-2007, 07:43 PM
#120
Originally Posted by Bilo
Now why do you think that B?
Is it because it smells a bit like the Powerco one a couple of years ago when the New Plymouth Council threw in the towell and sold their silver to plundering Australians and the small shareholders lost out on a nice little growth oriented share market listing (got stuffed)?
Or are you like me in that cash is easier to understand?
Hi Bilo,
Cash is a lot easier to understand. 20 cents is pathetic.
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