one of the real issues for holders is of course if the company is prevented from moving ahead in deference to the bidders interests. This could be more than a distraction and put an actual hold on plans. Which may not be so bad because the world is a bit slower moving now and, as Mansons are doing with The Herald block , its actually not too bad to hold off major development while risks remain quite real.
So I think we need patience loads of it even. move on now if yer gonna.
MSCI index rebalance at close today Peat. Lots of stocks got moved around a fair bit. Agree that chasing EQT puts some constraints on MET in terms of its development but also concur that at this present time that's not really a big deal and actually might make very good sense. You're dead right, a lot of patience will be required.
Last edited by Beagle; 29-05-2020 at 08:50 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
MSCI index rebalance at close today Peat. Lots of stocks got moved around a fair bit. Agree that chasing EQT puts some constraints on MET in terms of its development but also concur that at this present time that's not really a big deal and actually might make very good sense. You're dead right, a lot of patience will be required.
Yes I see RYM down 6% and OCA up 6% nice for that fund who was mentioned recently as shorting and longing these respectively.
announcement today would seem to be bad news in that Directors are not gaining what they sought and the reneger has!
However , not sure if it makes much difference really ?
I will put it in as you forgot. Doing their tortuous ABC's.
Shareholder Approval to be Sought for
"Metlifecare confirms that it will instead hold a meeting of shareholders in mid-July 2020 to seek endorsement of the Board’s intention to continue legal action on behalf of shareholders challenging the validity of APVG’s notice to terminate the SIA, signed on 29 December 2019.Metlifecare filed a Statement of Claim in the High Court on 15 May 2020, seeking orders to compel APVG and EQT Infrastructure IV fund to fulfil their contractual obligations under the SIA and an Equity Commitment Letter. "
The High Court has set an expedited court timetable for the dispute, with the trial scheduled to commence in Auckland on 23 November 2020.
Metlifecare Chair Kim Ellis said: “The necessary legal action to compel APVG and EQT to fulfil their contractual obligations under the SIA has already secured the public support of a significant proportion of our biggest investors. At next month’s meeting, the Board of Metlifecare will also be seeking formal endorsement of shareholders to continue pursuing litigation options to enforce the SIA and implement the Scheme.”
Reply With Quote
Originally Posted by dubya
Bookmarks