KMD - Kathmandu

[Beagle]

My read of the offer document is that it is conditional on hitting the 90% mark (Terms and Conditions Section 4). If the 90% of acceptances is not achieved then no acceptances are valid.

"Long time listener - first time caller"

Thanks mate and welcome to the forum. Yes good point and such conditions are quite common but I am sure, (without reading the full offer document) Rod retains the right to waive any conditions he chooses.
I guess much will depend on how well the company trades over the coming months. He probably has the right to extend the offer at least twice, (that's a common feature of these sort of offers), so he might exercise that right and play the long game and just see how KMD trades. I think people holding their breath for an improved offer better have a very strong pair of lungs
Any angle you look at this situation this is the best hostile takeover we've had on the NZX for years, complete with thinly veiled insults and all !!

[stoploss]

http://www.nzherald.co.nz/business/n...ectid=11497421

Keep at it Rod .....they need fixing big time

If need be you could always ask how his little baking venture went a few years ago

Very condescending from Kirk ....
This wasn't much of a success either ...any others ??

http://www.stuff.co.nz/business/7491...vid-Kirk-quits

[winner69]

Very condescending from Kirk ....
This wasn't much of a success either ...any others ??

http://www.stuff.co.nz/business/7491...vid-Kirk-quits

David a quiet polite chap and doesn't seem to have too much 'mongrel' in him. Probably his background. Even more credit for what he did as an All Black - after all for a long time he was the only AB captain to hold aloft the World Cup.

Rod a nice bloke as well but he has some mongrel in him. That's what needed to win in retail.

[Beagle]

I like mongrel...a few people have even implied that's a fit and apt description for me lately, lol
Mongrels are gritty and determined types and while its never pretty they're the ones that get the business done.

[macduffy]

Very condescending from Kirk ....
This wasn't much of a success either ...any others ??

http://www.stuff.co.nz/business/7491...vid-Kirk-quits

He didn't exactly set the world on fire as CEO of PMP, either.

Rugby was more his thing!

[drcjp]

Gonna lob a grenade here and bet my Kathmandu thermal undies that Rod's gonna have to a) extend or b) up his offer.
BGR now at $2.80 which would make an instant 3% loss for any takers. KMD is actually making money albeit not as much as it should.
Messr Kirk is well connected via his independent directorships on KMD and Forsyth Barr and will be working for best outcome.
Rod will get nastier (which is awesome) but I can't see it working at the moment.
The timing of the full year too will be influential given how skittery the market is at the moment.

My 2c anyway.

[winner69]

Gonna lob a grenade here and bet my Kathmandu thermal undies that Rod's gonna have to a) extend or b) up his offer.
BGR now at $2.80 which would make an instant 3% loss for any takers. KMD is actually making money albeit not as much as it should.
Messr Kirk is well connected via his independent directorships on KMD and Forsyth Barr and will be working for best outcome.
Rod will get nastier (which is awesome) but I can't see it working at the moment.
The timing of the full year too will be influential given how skittery the market is at the moment.

My 2c anyway.

Rod will keep you sweating for a while longer yet mate .... hope your thermals don't get too smelly

You'll end up pleading with Rod to take your shares ..... else down to 140 they go

[couta1]

Rod will keep you sweating for a while longer yet mate .... hope your thermals don't get too smelly

You'll end up pleading with Rod to take your shares ..... else down to 140 they go

No chance of me pleading with Rod to take my shares, rather take my chances that KMD will improve on its own steam given time, let him stick to jugs and toasters and leave all the vertical stuff alone. PS- Changing your thermals regularly stops the smell.

[Beagle]

Rod will keep you sweating for a while longer yet mate .... hope your thermals don't get too smelly

You'll end up pleading with Rod to take your shares ..... else down to 140 they go

I was thinking $1.25. I'd like to have a bob or two on Rod telling all KMD shareholders to get stuffed and let his offer lapse. He's clearly unimpressed with the independent valuation and is calling B.S. on that score and I don't blame him. Consumer confidence survey out today and its at a three year low. Very tough retail environment for KMD directors to hit their blue sky targets for FY16...dreamers ?

[drcjp]

Rod will keep you sweating for a while longer yet mate .... hope your thermals don't get too smelly

You'll end up pleading with Rod to take your shares ..... else down to 140 they go

Don't think so, if the offer falls over and they tank to $1.40 then Rod loses $16M and he won't want to be selling one would think. Who'll be pleading then? Its clear that Rod is walking a fine line here - good luck to him and I like it a lot, but he doesn't need the lot to run the company. He can spend the same amount and get 60% (ie. 7/9 + 0.25 p.s.) and make it work. Hopefully sense like that prevails.