KMD - Kathmandu

[GoldenStag]

Well its an interesting point in time for a chief operating officer to chose to resign isn't it.

I wondered whether he has substantial shareholdings. If it were large enough, I personally would consider resigning which would allow me to sell shares without having to disclose to the market, whereas he cannot do this while a director. If he knows he is a goner anyway, then why not sell the shares - something he can't do while a director.

This musing I had in the shower seems a bit far fetched to me, but thought I'd put it out there.

GS

[emveha]

Just got my 140 page target company statement plus 12 page interim report.

What a waste of money to have all that paper printed. Online version http://www.kathmanduholdings.com/wp-...INAL-05.08.pdf

[blackcap]

What a waste of money to have all that paper printed. Online version http://www.kathmanduholdings.com/wp-...INAL-05.08.pdf

Believe it of not emveha, I still prefer paper versions of documents as they are way more user friendly and so much easier to browse, make notes on where appropriate and to toss to a mate to "check this bit out". So most of the company/annual accounts research I do is with paper.

[drcjp]

Go Rod
http://www.nzherald.co.nz/business/n...ectid=11494994

Note that GS may change their mind about not accepting 'in best interests of clients'

Deutsche man on radio this morning says fair price ....and mentioned those record margins that have been forecast. Impact of going back to normal margins alone is quite a lot.

Th story also suggested Rod might just dump his shares if the bid failed.

GS are slippery aren't they? (checks dictionary definition of slippery....yep, picture of GS there) :-)

Person who wrote that story also needs head read; Rod would surely not be so stupid as to "dump" shares if bid unsuccessful? and blow millions as well possibly affect BRG shares?

I also note that most media commentators missed the fact that when KMD said reject, the shares of BOTH KMD and BRG rose 3-4%.

If Rod really wants KMD he's going to have to up his offer to at least $2 - he can still effect the changes he thinks necessary with 60% holding, just like he would have at BRG.

[Beagle]

Rod didn't come down in the last retail shower. He plays hard-ball and sticks to his guns. I reckon he just lets this thing run its course, he doesn't need any more than about 40% to make major changes and he'll get that in a canter. What's the bet he simply extends the offer when it expires in mid Sept with a repeat press statement that it represents fulsome value in this highly challenging environment.

No way there's another counter offer for this fiscally challenged company with pie in the sky dreams about how easy it is to grow their earnings in a tough economy...so no way Rod needs to up his offer. In fact quite the contrary, he may take whatever he gets in the first tranche and let the offer lapse and then watch the SP collapse back down to $1.25 or thereabouts for a while and then come back later with an even lower offer to mop up the rest. That would be what I'd do if I were him.

[macduffy]

Agree with that, Roger. Of course, a lot will depend on how Kathmandu, the business, performs over the next couple of trading periods.

[couta1]

Agree with that, Roger. Of course, a lot will depend on how Kathmandu, the business, performs over the next couple of trading periods.

I think you'll find that the KMD business is back trading on the upside which is another good reason not to accept the low ball offer from Duke.

[drcjp]

Just looked at BGR group 2014 AP. 39M profit on 500M turnover.
KMD is talking 20M profit on 400M turnover.
I would argue it wouldn't take that much to sort it - Rod could do it easily. But then so could someone else. Xavier just might.

Furthermore, BGR is at $2.95. And Rod is pushing for $1.80 on a company that will double his turnover o/n and he expects people to accept him to pay only 61% equivalent for that 100% increase?

Tell him he's dreamin.........

[albundy29]

Rod didn't come down in the last retail shower. He plays hard-ball and sticks to his guns. I reckon he just lets this thing run its course, he doesn't need any more than about 40% to make major changes and he'll get that in a canter. What's the bet he simply extends the offer when it expires in mid Sept with a repeat press statement that it represents fulsome value in this highly challenging environment.

No way there's another counter offer for this fiscally challenged company with pie in the sky dreams about how easy it is to grow their earnings in a tough economy...so no way Rod needs to up his offer. In fact quite the contrary, he may take whatever he gets in the first tranche and let the offer lapse and then watch the SP collapse back down to $1.25 or thereabouts for a while and then come back later with an even lower offer to mop up the rest. That would be what I'd do if I were him.

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"

[winner69]

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