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  1. #2671
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Beagle View Post
    All along Synlait management have taken a sanguine approach to assuming this can be resolved in a reasonable amicable way and are simply hoping the other party plays fair and reasonable. What if they don't ?
    I guess without having heard the other side we don't really know whether they have genuine issues and negotiating in good faith.

    However - I read some months ago that they have plans for subdividing adjacent land in Pokeno to create lifestyle blocks as well as setting up a adventure tourism business.

    Not sure it was this article, but seems to describe the same business plan:
    https://www.stuff.co.nz/business/bet...-north-waikato

    Ah yes - and here is a link referring to the housing development:

    https://www.nzherald.co.nz/business/news/article.cfm

    Its contested new factory at Pokeno may have got in the way of a neighbour's plans for a 1000-section housing development.

    Last month's Court of Appeal judgment has thrown Synlait's plans to start processing at Pokeno imminently into confusion by upholding restrictive covenants on the land.

    The court's ruling that the restrictive convenants stay noted that neighbouring land owner Karl Ye, who sought the court ruling, wants his land rezoned residential for a big subdivision.

    Further inquiries by the Herald showed Ye, also known as Qing Ye, made a submission to the Waikato District Council in October to rezone his 148ha properties residential. His land is currently farmed.

    The council's proposed district plan wants to rezone Ye's land rural and the land Synlait has built on to heavy industrial.

    Two 200-year covenants on the Synlait land restrict its use to grazing, lifestyle farming and forestry.

    Ye owns the benefits of the covenants, which have only run for 20 years.
    Anyway - both plans (tourism business as well as lifestyle blocks) would be quite incompatible with an adjacent big and ugly dairy factory.

    Given that the character of the land was protected by covenants the developers could well rely on the area remaining its rural character. It was Synlait which choose to infringe on these covenants and basically try to steal many million dollars from the people who planned these developments in good faith. Why should the beneficiary of the covenants now agree to a cheap settlement to make the party violating the covenants richer?

    It actually might be Synlait who is acting unreasonable here ...
    Last edited by BlackPeter; 13-09-2019 at 11:58 AM. Reason: provided info re planned housing and tourism venture
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  2. #2672
    ShareTrader Legend Beagle's Avatar
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    Yes I have read the same press releases BP. Synlait really need to settle this at whatever the aggrieved party will accept and I am not sure the board realise this.
    If they don't settle and the Supreme court knocks them back on oral submissions on their right to appeal on 21 October, (can only appeal on matters of law), or knocks them back in the appeal process itself and then the neighbour's get an inunction stopping them operating the plant, Synlait are then in real trouble and incredibly vulnerable.
    The aggrieved party will be fully cognisant that Synlait gearing is very high and they are vulnerable and quite literally they are in a very good position to "milk" Synlait.
    I don't think this goes away cheaply...or anything even remotely close to cheaply.
    Last edited by Beagle; 13-09-2019 at 11:55 AM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  3. #2673
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    Quote Originally Posted by Beagle View Post
    Yes I have read the same press releases BP. Synlait really need to settle this at whatever the aggrieved party will accept and I am not sure the board realise this.
    If they don't settle and the Supreme court knocks them back on oral submissions on their right to appeal on 21 October, (can only appeal on matters of law), or knocks them back in the appeal process itself and then the neighbour's get an inunction stopping them operating the plant, Synlait are then in real trouble and incredibly vulnerable.
    The aggrieved party will be fully cognisant that Synlait gearing is very high and they are vulnerable and quite literally they are in a very good position to "milk" Synlait.
    I don't think this goes away cheaply...or anything even remotely close to cheaply.
    Those lovely pink teats will be very chafed and red by the end of that process.

  4. #2674
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by RTM View Post


    Those lovely pink teats will be very chafed and red by the end of that process.
    Top of the class for you Sir, definitely the best post of the week !!!!!
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  5. #2675
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    Quote Originally Posted by RTM View Post


    Those lovely pink teats will be very chafed and red by the end of that process.
    Im certainly glad I don't have to envision that image as a shareholder.
    For clarity, nothing I say is advice....

  6. #2676
    ShareTrader Legend Beagle's Avatar
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    Can't help thinking one of the major shareholders is supporting the SP at this level.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  7. #2677
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Beagle View Post
    Can't help thinking one of the major shareholders is supporting the SP at this level.
    You mean to make the coming capital rise to pay for the Pokeno penalty a bit less diluting? Maybe still hoping for 1 for 3 at $6?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  8. #2678
    Aspiring to be an Awesome Bear
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    Craigs have maintained their BUY recommendation
    Last edited by RupertBear; 14-09-2019 at 08:17 PM.

  9. #2679
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    Market took a week or so understand the numbers and outlook and seem to like what they crunched.

  10. #2680
    ShareTrader Legend Beagle's Avatar
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    Nice man on the radio this afternoon (as one of the lead news articles, can you believe it), said Synlait had moved to pay all staff who take maternity leave full pay topping up the Govt allowance so they receive full pay for 22 weeks. Hope that includes both parents and shareholders will be absolutely trilled if both parents who work for Synlait and are members of the LGTBQP community adopt a baby or have one through surrogate parents. That would be great and so progressive. What's 44 weeks pay between friends eh. Can't believe there wasn't a separate stock exchange release announcing this major new enhancement to shareholders prospects in the usual HUGE pink font today.
    Last edited by Beagle; 18-09-2019 at 05:19 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

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