Unfortunately for those that accepted Briscoes offer at $1.80, their transactions are void following the lapse of the offer period. Briscoes has reverted to their 19.9 percent holding of Kathmandu according to a notice filed with the NZ on Friday.
Yes I realise that Snoopy, those will get there money back. The ones that sold on market will be at present - as long as they bought below this figure and some that did not still could be happy.
They still could increase again, but not for awhile given current market conditions IMHO.
Discl: Only own one pair of shoes that I got on sale and paid the majority for with a voucher given to me and after all that I think the sale price was about what they were worth plus I did not want to be a sheeple in Auckland and join the (black) puffer jacket brigade, bought another brand and it is not black or a puffer looking jacket - needed one to go to Ruapehu in July
I will not be surprised if a "please explain" is issued by the NZX re recent trading for this stock. Depressed value is one thing: repetitive cycles is another thing altogether.
Result out and its a shocker. I call B.S. on their projections for FY16, the whole basis behind the rejection of Rod Duke's takeover. Management face a monumental challenge. The market clearly doesn't like their prospects either and the institutions that were fortunate enough to be in a position to be able to take advantage of Duke's $1.80 cash bid must be laughing all the way to the bank.
I expect a re-test of the previous low of $1.25 in due course. All directors and senior management should fall on their own sword's in due course if they can't meet their ambitious, (flight of fancy ?) profit forecast for FY16.
Result out and its a shocker. I call B.S. on their projections for FY16, the whole basis behind the rejection of Rod Duke's takeover. Management face a monumental challenge. The market clearly doesn't like their prospects either and the institutions that were fortunate enough to be in a position to be able to take advantage of Duke's $1.80 cash bid must be laughing all the way to the bank.
I expect a re-test of the previous low of $1.25 in due course. All directors and senior management should fall on their own sword's in due course if they can't meet their ambitious, (flight of fancy ?) profit forecast for FY16.
Unless, of course, the Duke beats them to it with a new, discounted offer?
Originally Posted by Jay
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