KMD - Kathmandu

[Crackity]

Does anybody know since the total take over may not going to take place and to those already sent in their acceptance form to Briscoe... Is that mean Duke have bought the shares from those sellers? Thanks.

The bid has a 90% minimum acceptance condition longy and currently closes on the 17th of Sept - it may possibly be extended by Briscoes but if not then you still own Kathmandu shares and Briscoes will not have bought them off you. Hope this helps!

[Beagle]

I could be wrong but I think the offer is contingent on a successful bid. He could lower the bid to a minimum 50% but he cant go for a % between 20% and 50%. Happy to be corrected. I am sure it would be set out in the offer doc somewhere.

Insto's normally leave it to the last minute but quite a few (ozzie ones) have come out and rejected it so it might be a mathematical impossibility.

Edit: Roger - is my statement correct. I also dont think he is allow to creep up above 20%. The creep provisions (5% per year) only apply above 50%??? So he would be required to do another full blown takeover.

Let's see what happens mate. I think he'll wait till the directors and the independent valuation are discredited and then take it over in due course for a lot less than $1.80.
I am not sure on the creep provisions but usually minimum acceptance conditions can be waived altogether is he chooses to do so ? Happy to be corrected if anyone has taken the time to read all the small print takeover clauses in great detail.

[longy]

Oh... I see. Yes should have got out @ 1.7. Never mind. Still a few more days to go.

[drcjp]

Ah well, sanity prevailed and thats all over: https://nzx.com/companies/BGR/announcements/270375
Could be quite good now though with Mr Duke as a 19.9% shareholder-agitator.
Wish the day-trading shorters who add nothing of value would bugger off though.

[winner69]

Dr clip, take solace your directors say your shares are worth well over 2 bucks

A 'merger' sometimes still on the agenda methinks

[Beagle]

Dr clip, take solace your directors say your shares are worth well over 2 bucks

A 'merger' sometimes still on the agenda methinks

Back down to $1.25 soon (as for-shadowed by myself earlier), unless directors can prove otherwise. if / when ? they can't they should all resign. This isn't a market that tolerates "talk". I sense we are entering a more sceptical stage for the market as a whole after the recent shakeout / correction. A market that absolutely demands results and will very severely and mercilessly punish stocks that don't deliver. If there isn't the promised recovery in earnings we could easily see this under $1.00 in due course IMO and shareholders will be absolutely begging Duke to join in with his highly profitable and successful empire. Just look the current SP. Already the market is highly sceptical of the new CEO's ability to deliver. In my view talk of a "whopping" 10% cost reduction in head office overhead is really quite trivial and borders on pathetic as far as proper restructuring goes. Duke's school of hard knocks retail expertise is exactly what this company needed and I believe shareholders will live to rue the day they turned Duke down.

[Master98]

Dr clip, take solace your directors say your shares are worth well over 2 bucks

A 'merger' sometimes still on the agenda methinks

if another "merger" happen,then the offer can only be less than $1.6.

[winner69]

if another "merger" happen,then the offer can only be less than $1.6.

Briscoes might "merge" (taken over) with Kathmandu - that would be interesting eh

[nextbigthing]

Apparently Kathmandu is going to make a counter bid to takeover Briscoes.

[Jay]

Those that sold to him at 1.80 must be pretty happy now and no doubt a few others wish they did!