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24-04-2020, 12:13 PM
#1981
Originally Posted by Ace
....2. The MAC clause states that the outcome cannot be a result of general economic conditions, or law.
This one speaks for itself and from the information we have been provided, MET is not disproportionately affected compared to industry peers....
...It could be argued that even if MET was adversely affected, the general economic condition and law has resulted in the impact on it's financial position and thus the MAC cannot be triggered?
...
Excellent post. Perhaps the QCs could argue over whether the impact on MET was as a result of the viral pandemic or general economic conditions or law. If the law and economy had been changed to cope with the virus, then an argument could be made that the virus would have been the prime cause of the deterioration as opposed to "general economic conditions."
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24-04-2020, 12:23 PM
#1982
Originally Posted by Bjauck
Excellent post. Perhaps the QCs could argue over whether the impact on MET was as a result of the viral pandemic or general economic conditions or law. If the law and economy had been changed to cope with the virus, then an argument could be made that the virus would have been the prime cause of the deterioration as opposed to "general economic conditions."
I think you make a fair point and the outcome of any court case could easily go either way which is why I have only bought what I am happy to hold long term at a price I am comfortable with.
Well worth noting too that Mr market is also saying the outcome of any possible legal action is highly uncertain. Compared to the rest of the sector though, at present this is the cheapest by miles so I see any possible value accretion from this being "in play" as a "free hit".
Further, this has the lowest gearing of the sector by a long way and the highest embedded value per unit of any of the sector so is well placed to continue to generate highly resilient earnings through existing unit sales and will be relatively less affected by the construction shutdown, as demonstrated by their recent profit forecast.
Really a FY20 profit forecast at mid point of $86.5m underlying compared to $90.5m last year is very impressive in the circumstances, especially when other sector players have recently withdrawn their forecast altogether !
Last edited by Beagle; 24-04-2020 at 12:36 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
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24-04-2020, 12:32 PM
#1983
As usual, I pick a negotiated outcome before it gets to court.
$6 is my pick of the agreed takeover price.
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24-04-2020, 12:53 PM
#1984
Originally Posted by winner69
There was a real estate guy on the radio this morning saying he doesn’t expect property prices to fall except in tourist hot spots like Queenstown and Rotorua
That was an opinion not a fact.
Most of these people end up wrong.
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24-04-2020, 12:54 PM
#1985
Bathurst , have lost their case and all along they said they had strong legal advice that they would win ..... So who knows , SML, MET keeping the lawyers well fed ...
https://www.stuff.co.nz/business/121...est-coast-mine
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24-04-2020, 12:55 PM
#1986
Originally Posted by dobby41
That was an opinion not a fact.
Most of these people end up wrong.
Real estate agents & used car salesmen - take your pick of who not to trust!
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24-04-2020, 01:03 PM
#1987
Originally Posted by Balance
As usual, I pick a negotiated outcome before it gets to court.
$6 is my pick of the agreed takeover price.
Got my vote as well.
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24-04-2020, 01:44 PM
#1988
Originally Posted by Snow Leopard
Should take a look at what ARV or OCA can offer them.
These are the two stars of the listed retirement sector, and OCA is especialy good value as an investment when looked at objectively.
PS: DYOR, Take care & stay safe
I hold shares in both of these. Have tried showing them OCA however they not too keen unfortunately!
My mother really wants somewhere with a swimming pool which I think is abit of a shame that OCA don't have these as these offer really good low impact exercise.
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24-04-2020, 01:49 PM
#1989
Originally Posted by Benny1
I hold shares in both of these. Have tried showing them OCA however they not too keen unfortunately!
My mother really wants somewhere with a swimming pool which I think is abit of a shame that OCA don't have these as these offer really good low impact exercise.
Earl Gasparich made it clear at the NZSA presentation a while back that they don't offer a land based "cruise ship" experience and had no intention of doing so. That said the "swimming pool" outside the Sands village is pretty cool. Best to check out what else is missing before signing up for an OCA unit as what they offer at various villages can be quite a bit different to other companies.
Last edited by Beagle; 24-04-2020 at 01:50 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
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24-04-2020, 01:58 PM
#1990
Originally Posted by Balance
Real estate agents & used car salesmen - take your pick of who not to trust!
….and economists and commentators - esp those working for banks
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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