MET - Metlifecare - one for the fundies?

[nztx]

This thread seems to have a lot of inteesting irrevalent stuff on it so my not .... any way the world is not very orderly these days so anything goes

Maybe some MET residents still have these

Very good .. quite possible - winner

[King1212]

Aw yeahh...Master winner....that is an antique!....it is at Te Papa yeah aw

[dabsman]

Does anyone know what is to happen with the withheld dividend?

[nztx]

Does anyone know what is to happen with the withheld dividend?

that depends on whether MET's board feel that shareholders now deserve a double treat for their recent ordeal
or choose to withhold all or part of it in the coffers for a better rainy day or any number of curious or even more obscure reasons..

Hopefully they won't be too tardy in deciding, and get it through before another suitor hits the table with a further takeover offer

[winner69]

We’ll be back in the 6 buck range in no time

A punters dream I reckon

http://nzx-prod-s7fsd7f98s.s3-websit...880/321052.pdf

Glad MET still using Osborne portable PCs ...always rely on them to churn out the right words.

[Balance]

https://www.nzx.com/announcements/351880

Update from Metlife :

Key points

• The Metlifecare Board has received legal advice and reiterates its belief that there is no lawful basis for APVG to terminate the SIA and that the assertions made by APVG are without substance
• Specifically, the Board does not believe the triggers under the “Material Adverse Change” (MAC) clause in the SIA have been, or are reasonably likely to be, triggered
• Further, the Board has legal advice that the MAC clause does not apply, for reasons including:
- Any impact on Metlifecare has been as a direct result of the change in general economic conditions caused by the New Zealand Government’s mandated Level 4 lockdown (the lockdown) restrictions put in place on 25 March 2020;
- Restrictions that have affected the operations of Metlifecare constitute a change in law i ; and
- Any impact has not had a disproportionate effect on Metlifecare.
• The Board is in the process of appointing a QC to assist Metlifecare
• Metlifecare remains strongly committed to the successful completion of the SIA in the interests of all shareholders and remains on track to dispatch the scheme materials in late April.
• Based on recent scenario analysis, Metlifecare’s current consolidated underlying profit projection for FY20 is $83 million to $90 million

[winner69]

Did MR Beagle write that announcement?

[Cyclical]

Did MR Beagle write that announcement?

Haha, was wondering the same thing myself!

[allfromacell]

Hmm that exciting but is MET just being opportunistic or is there real grounds here? I'm no lawyer but looking forward to seeing how this opens, I imagine a lot of punters will be happy to take some profit and get out if it opens up significantly.

[peat]

sheeetfiiiiight