SML - Synlait Milk Ltd

[Leftfield]

...Less than 2 years ago Synlait and ATM were pacing each other's share price and worth very close to the same value.
Synlait share price at the time of writing is worth less than a third of ATM. What a spectacular fall from grace !

lol. As I recall it you were the one advocating SML v ATM as the best 'long term investment' back in those days (seem to remember you even ran a poll to prove your point!!?)

In addition your lawyerly verdict on Pokeno is yet to be proven.

Best to keep an open mind.

Just saying......I don't hold SML.

[Beagle]

TA a pretty useful tool in investors toolkit isn't it !
Best to be quick on your feet !

[percy]

Must be time for another name change?...."Twinkle Toes" or "TT" for short..............lol.

[whome]

Photo of Pokeno looking south. White dairy factory RHS is Yashili-Mengniu. White dairy factory LHS is the new Synlait plant. Hinds Pipes on the other side of Synlait. The land with the covenants extends behind these to the south, up and over the hills. Both Yashili and Hinds were established years before Synlait.
Why did the objector to Synlait not object to Yashili and Hinds who must have been subject to the same covenants. A judge may say the previous two set a precedent by building there with no objection heard, but it was only when a direct competitor in the form of Synlait turned up that the objector decided to play the covenant card. Hmmm... it will be a test of the strength of covenant law, or rather who can play god when deciding who to allow to be your neighbour. A similar situation was the blocking of building of PaknSave (I think it was) on Lincoln Road Henderson by a rival supermarket. Eventually they built but held up for years.
Maybe Synlait Pokeno will sell to Yashili next door then put all their efforts into Dunsandel where they already have the approvals to export IF to China.A0A8F142-F423-49F1-A9C2-2391E4F61D6C.jpg

[Beagle]

I've been calling SML a SELL since it was over $9. No need for a name change, many find the barking very helpful.
Beagles can be very quick on their feet especially when there's food involved lol

[Leftfield]

Photo of Pokeno looking south. White dairy factory RHS is Yashili-Mengniu. White dairy factory LHS is the new Synlait plant. Hinds Pipes on the other side of Synlait. The land with the covenants extends behind these to the south, up and over the hills. Both Yashili and Hinds were established years before Synlait.
Why did the objector to Synlait not object to Yashili and Hinds who must have been subject to the same covenants. A judge may say the previous two set a precedent by building there with no objection heard, but it was only when a direct competitor in the form of Synlait turned up that the objector decided to play the covenant card. Hmmm... it will be a test of the strength of covenant law, or rather who can play god when deciding who to allow to be your neighbour. A similar situation was the blocking of building of PaknSave (I think it was) on Lincoln Road Henderson by a rival supermarket. Eventually they built but held up for years.
Maybe Synlait Pokeno will sell to Yashili next door then put all their efforts into Dunsandel where they already have the approvals to export IF to China.A0A8F142-F423-49F1-A9C2-2391E4F61D6C.jpg

Thanks whome.... In addition, as I understand it there was a 'zoning change' by the local Pokeno authority.... the question as to whether a covenant should still be relevant following this zoning change is going to be interesting.

Some would say the zoning change made the covenant redundant. But hey, I'm no lawyer.

As I say - it pays to keep an open mind.

[BlackPeter]

TA a pretty useful tool in investors toolkit isn't it !
Best to be quick on your feet !

Must be time for another name change?...."Twinkle Toes" or "TT" for short..............lol.

I've been calling SML a SELL since it was over $9. No need for a name change, many find the barking very helpful.
Beagles can be very quick on their feet especially when there's food involved lol

Absolutely - while sometimes earmuffs might be of advantage ... I always find the beagles barking useful.

And yes, if the conditions change then everybody using their brain would reassess their position and change their mind as appropriate. They call that mental flexibility.

I noticed though that some other posters tend to stick sometimes with their decisions despite clear evidence that the story and the facts have changed. I know how to call this behavior as well, but it would not be polite to call it out.

Anyway - each to their own, but please, beagle - keep barking.

[Beagle]

Absolutely - while sometimes earmuffs might be of advantage ... I always find the beagles barking useful.

And yes, if the conditions change then everybody using their brain would reassess their position and change their mind as appropriate. They call that mental flexibility.

I noticed though that some other posters tend to stick sometimes with their decisions despite clear evidence that the story and the facts have changed. I know how to call this behavior as well, but it would not be polite to call it out.

Anyway - each to their own, but please, beagle - keep barking.

Thanks mate. The truth is some other people prefer cats and that's fine with me

[mondograss]

Thanks whome.... In addition, as I understand it there was a 'zoning change' by the local Pokeno authority.... the question as to whether a covenant should still be relevant following this zoning change is going to be interesting.

Some would say the zoning change made the covenant redundant. But hey, I'm no lawyer.

As I say - it pays to keep an open mind.

Council zoning can't override a covenant. It might result in the land being useless because you can neither comply with the zoning nor the covenant, but it can't override it. At most it might force a lifting of the covenant. Also the Yashili factory is adjacent to the covenanted land not on it, and the HINDS factory itself is not on the covenanted land though they own a part of it. See the map at the end of this:
https://forms.justice.govt.nz/search...6c9fa9d2b3.pdf

[whome]

Thanks mondograss. Very interesting to see the legal outcome of this.