PAZ Pharma Zen

[justakiwi]

Brilliant

Thanks!

Yes they discussed how with current SP it is no longer required to have a minimum.

[petty]

That NZSA fellow was any embarrassment. Confrontational, argumentative and clearly grandstanding. Not a single contribution he made to the meeting couldn't have been raised offline. Thankfully others in the room asked much more enlightened and insightful questions. Long term hold for sure.

[percy]

A very positive meeting.
Good to run into so many sharetraders.
A great deal of work ahead getting the new Rolleston factories up and running, with building them,importing equipment arriving, and having the overseas technicians to install and get the equipment operational.
When PAZ is ready they will seek listing, on most probably the ASX or NZX, and at that time will have a constitution that will suit either exchange.At present time they are moving in that direction.
Long term holders have been well served by the directors ,and I think newcomer NSA's Oliver Mander may have got ahead of himself.Pity .
I spoke to Cibus Funds appointed director, Damon Petrie ,after the meeting.Told me he had spoken to PAZ's two largest customers.The" intellectual "for the ingredients they buy from PAZ belongs to PAZ.So they are completely reliant on PAZ.He was really pleased the equipment coming from China is only costing 30% of what it would cost elsewhere.Like a true money man he said it would give a lot better return on capital.!!!.Well I guess he is right,buying $20mil of equipment for $6 mil is pretty goodsort of saving..A welcome addition to the board.
Pet food.Freeze drying retains all the goodness that is normally lost through cooking and processing,so pets will be well served.

[nizzy]

That NZSA fellow was any embarrassment. Confrontational, argumentative and clearly grandstanding. Not a single contribution he made to the meeting couldn't have been raised offline. Thankfully others in the room asked much more enlightened and insightful questions. Long term hold for sure.

I disagree, he asked good questions on governance that needed asking and was respectful in doing so. Good to have NZSA there. AGMs shouldn't be cosy gatherings of the converted
Bright future indeed for PAZ but it wouldn't take much for a couple of wheels to fall off. Some hard strategic decisions down the track eg specialised ingredient supplier v's branded consumer play? Petfood v's human? Can they do it all? List or not? We need sharp engaged and open directors.

[garfy]

I watched the whole meeting, and was very impressed with the management who seems to have the companies progress well in hand, notwithstanding the obstacles thrown at them during the year. An impressive operation! Well done!!

[percy]

We need sharp engaged and open directors.

We have them already.
And the bonus is they have their own skin on the line.
There are 254,493,482 shares on issue.
At today's meeting shareholders holding close to 50% of the shares on issue were at the meeting.That shows real shareholder engagement.

[stoploss]

That NZSA fellow was any embarrassment. Confrontational, argumentative and clearly grandstanding. Not a single contribution he made to the meeting couldn't have been raised offline. Thankfully others in the room asked much more enlightened and insightful questions. Long term hold for sure.

Petty I disagree , he asked the questions in a respectful manner. If he didn't get the answer he required he followed up.You can't say he was grandstanding when he was just doing his job ( as much as you might dislike that )
He is representing the NZSA so presumably has to ask the questions forwarded to him by members of the association.
It sounds like dialogue was entered into before the meeting, but he still needed to cover some things off.
He had a point if the ultimate goal is NZX/ASX listing why not make it fully compliant now ?
The Chairman and the legal rep were able to answer the questions in any case so we can be assured in the interim everything complies
and its just another step to get to the end goal.
Nice to meet a few S/T members there .
Percy good to see you , see you at next years AGM ( all the best with your upcoming endeavours)
Thanks once again to Percy for bringing this great investment to our attention.
We are all in the Percy Appreciation Zone .

Cheers
S/L

[Beagle]

Oliver's young and enthusiastic enough to bring some fresh energy to the role of CEO at NZSA. I think he did a good job. Most companies need assertive shareholder engagement.
On the other hand as Percy has noted those there have plenty of skin in the game.

[percy]

Oliver's young and enthusiastic enough to bring some fresh energy to the role of CEO at NZSA. I think he did a good job. Most companies need assertive shareholder engagement.
On the other hand as Percy has noted those there have plenty of skin in the game.

And if had not been for the board's and the ceo's bloody mindedness the company would have failed with the ChCh earthquakes.Full stop.End of story.
Most board members would have slowly resigned,for the easy way out.
Not PAZ board.Stuck to their vision, and supported the business through all the lean years,and when PAZ needed money to expand fronted up,when very few shareholders did.[Yes that is when I fronted up].
I think if Oliver had been a long term shareholder,and had known the company's history he would have concentrated on thanking the board.A great success story.
I would doubt NSA would represent more than 1% of the shares on issue.The owners of the other 99% are over joyed with the success the company has achieved at the board's direction.
And as we know the real fun will happen in a year or two's time.
Cibus Fund capital ,and their Damon Petrie becoming a PAZ director, are the catalyst for PAZ starting to hit top gear.

ps.A few years ago PAZ's market cap was $14mil while Sea Dragon's was $52mil,or $59mil.Offcourse Sea Dragon were listed and were going to this that and the other thing.
Today PAZ's market cap is $241mil while Sea Dragon's is $12.75 mil.....
Let's see what happens over the next 4 years.

[justakiwi]

Did they give any indication of exactly when they will officially drop the minimum? As in, a date?

Yes they discussed how with current SP it is no longer required to have a minimum.