MET - Metlifecare - one for the fundies?

[Beagle]

They're not going to renegotiate.

$6 is fair. Better to just take the money before a 2nd covid wave hits and the stock goes back down again.

How is $6 fair? Mid point of revised early June independent valuation was $6.35 and there is ample evidence since then that real estate prices have been far more robust than the so called expert commentators thought they would be. I'm disinclined to support a $6 bid. $6.35 - $6.50 is fair in my opinion.

[Balance]

That's how I see it too mate.

Nz dodged bullet first time around ...covid reality will hurt next time.

Hope they sort this quickly

Time to sell in the market for you, W69?

[Beagle]

First bid is never the last bid.

You have the track record mate. You said this first time around with their original $6.50 bid and you were dead right when they raised it to $7.
You also said this would end up in a negotiated settlement and were dead right and I agreed all along.
Kudos to you mate.
History is highly likely to repeat and we will probably come full circle and end up at, or very close too, the very first bid of $6.50. Won't that be ironic !

[Balance]

You have the track record mate. You said this first time around with their original $6.50 bid and you were dead right when they raised it to $7.
You also said this would end up in a negotiated settlement and were dead right and I agreed all along.
Kudos to you mate.
History is highly likely to repeat and we will probably come full circle and end up at, or very close too, the very first bid of $6.50. Won't that be ironic !

Thanks, Beagle!

I have been receiving thank you notes this morning - happy people out there.

It’s a nice feeling. 😊

[Beagle]

Dear Directors,
I note EQT's revised NBIO of $6.00 and I feel this is too low and note that the mid point of the most recent independent valuation was $6.35.
Since that revised valuation was undertaken very early in June there has been market evidence for June 2020 real estate sales from Barfoot and Thompson that the medium price has been much stronger than expected. Other anecdotal media reports have also suggested this.
In the circumstances I feel the $6.00 NBIO is too low and ask that you do your very best to at least achieve a fair agreed price of not less than $6.35.
The leading share market forum wherein smaller investors such as myself express their opinion is www.sharetrader.co.nz
You can get a good gauge on small shareholder opinion by reading recent posts in the Metlifecare thread here https://www.sharetrader.co.nz/showth...or-the-fundies
My more fulsome opinions are expressed under my user handle "Beagle"
I welcome the opportunity to discuss this further with you on behalf of other small shareholders if you have the time.
I believe there is very little appetite for a potentially very protracted and very expensive legal battle.
Best wishes for a successful resolution of this matter.

Copy of email sent to Metlifecare this afternoon. I would encourage you folks to express your opinion direct to them at the email address they provided for questions to this matter for the forthcoming special meeting, (now on hold). info@metlifecare.co.nz
Don't wait for them to ring you to gauge your opinion, (very unlikely to happen unless you have at least a million shares).

[King1212]

https://www.nzherald.co.nz/business/...ectid=12345795

I think $6 is a done deal...perhaps with a bit of whipped cream 20 to 30c as a topping.

From the sound of it....this deal will go through as NZ fund is the kingmaker

[Balance]

https://www.nzherald.co.nz/business/...ectid=12345795

I think $6 is a done deal...perhaps with a bit of whipped cream 20 to 30c as a topping.

From the sound of it....this deal will go through as NZ fund is the kingmaker

Looks like it.

[King1212]

Unless there is another bid coming in....from other company

[Beagle]

Asked about the fairness of the new $6/share price offer, Ellis said: "It's 15 per cent lower. I would say assets have come back at least 15 per cent since lockdown so it's probably not miles off the button."

This view is not supported at all by the real estate evidence to date. Such a defeatist opinion from a very tired old director well and truly past his prime. No wonder the arbitrage investors want to get rid of him. That's truly pathetic coming out in public and waving the white flag like that. Show some fight and try and get at least the mid point of the valuation range, ($6.35) for goodness sake !

[King1212]

Well..he would be very relieved with all the pressure off from his shoulder....

Still 25c off the offer price