MET - Metlifecare - one for the fundies?

[Beagle]

It only takes 25.1% of people to vote NO and those trying to pillage MET assets will be sent on their way to consider whether they should pay more.
Because this meeting is virtual only I am not going to try any shareholder activism as its virtually impossible to bark effectively in online meetings.

[peat]

It only takes 25.1% of people to vote NO and those trying to pillage MET assets will be sent on their way to consider whether they should pay more.
Because this meeting is virtual only I am not going to try any shareholder activism as its virtually impossible to bark effectively in online meetings.

but will the market value those assets higher once the arrangement is rejected.
Of course it is easy to argue it should, look at the current share prices of the other retirement companies.
BUT to my mind more importantly , it hasn't in the past.....

[Panda-NZ-]

It only takes 25.1% of people to vote NO and those trying to pillage MET assets will be sent on their way to consider whether they should pay more.
Because this meeting is virtual only I am not going to try any shareholder activism as its virtually impossible to bark effectively in online meetings.

It does represent an increase in price for those who bought at the right time though.

IF the offer wasn't on the table 'met' would be trailing the other retirement stocks for years rather than having a return now.

[Beagle]

but will the market value those assets higher once the arrangement is rejected. No
Of course it is easy to argue it should, look at the current share prices of the other retirement companies.
BUT to my mind more importantly , it hasn't in the past.....

I agree that the board and the company have a lot of work to do to rebuild their credibility. Winner has called this the dog of the sector and I think that SUM's the situation up pretty well but I would add that there are some serious issues with mange, ticks and flea's that need addressing. The mangy board are amongst their biggest of problems and a serious does of flea powder is required in their development team.

[HKG2301]

This chat has been really useful.

Seems there's a small risk of the offer being voted down (in which case, watch the price drop to $4.50 for the foreseeable future) so I'm out.

Taking my profits ahead of the vote...

[peat]

hows the METing going?
I cant attend as I am a negative shareholder.

[dabsman]

Makes me ill just thinkig of all those revaluations they picked up at a big discount - even a discount before the property market started moving!

[JSwan]

Alot of people asked questions about why only $6/share and expressed their disappointment

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-websit...874/332201.pdf

I doubt any amount of barking would have changed that result. More than 90% of people couldn't see the wood for the trees...mind you with the caliber of the directors and senior management I am not surprised.

Wonder where that money will be reinvested ?..some of it is almost certain to make its way back into the other NZX listed retirement stocks I would think. Probably supercharge their rally.

[forest]

http://nzx-prod-s7fsd7f98s.s3-websit...874/332201.pdf

I doubt any amount of barking would have changed that result. More than 90% of people couldn't see the wood for the trees...mind you with the caliber of the directors and senior management I am not surprised.

Wonder where that money will be reinvested ?..some of it is almost certain to make its way back into the other NZX listed retirement stocks I would think. Probably supercharge their rally.

Like you Beagle I am very disappointed in Kim Ellis and the board he chairs. I will take note of this bunch of directors and am very wary of investing in a business they are involved in. Selling a business hundreds of $millions below its equity value is a disgrace.
I can see a nomination coming up for the NZ shareholders association, and it won't be for best managed company.