TSK - TASK Group Holdings

[Baa_Baa]

When do the unamed directors come up for election. It would be good if those with say corporate law experience were replaced with more tech focused directors.

At the 2014 AGM 4th September 2014 https://www.nzx.com/companies/VML/announcements/253959, only the directors Mr Bradley and Mr Carden, were put to shareholders for consideration of re-election, "in accordance with the provisions of the Constitution of the Company".

So where is a copy of the Constitution filed? http://www.business.govt.nz/companie...B862D29FC5EAE6 unfortunately is a 2006 constitution document from the past of VMob.

It states (efficacy to the current VMob Group Limited not known):

Appointment by Board
7.4 The Board may at any time appoint additional Directors. A Director appointed by the Board
shall hold office only until the next annual meeting of the Company but shall be eligible for
election at that meeting.

No later reference exists to filing a new or amended constitution on http://www.business.govt.nz/companie...4518/documents however in the prospectus 6 Mar 2014 in regards to issue of options http://vmobco.blob.core.windows.net/pdfs/191293.pdf reference in made to relevant documents being available at info@searchlink.co.nz.

As an aside, VMob Group Financial Results Announcement was last made on 12 Jun 2014 here: http://vmobco.blob.core.windows.net/pdfs/195316.pdf and here: http://vmobco.blob.core.windows.net/pdfs/195317.pdf

[Baa_Baa]

In the "Roadmap Announcement – 2015 A Landmark Year" 19 Mar 2015 https://www.nzx.com/companies/VML/announcements/262048 it is stated "To gain access to a larger pool of investment capital and with a view to realizing greater value for shareholders, VMob intends to dual list via an IPO on ASX this year. The company’s NZX listing will be retained." [emphasis added]

The observant will notice that VMob are indeed not listed on the NZX per se, moreover their listing is on the NZAX. It would seem appropriate and "with a view to realizing [sic] greater value to shareholders", that VMob at or around the time of listing on the ASX also seeks a promotion from the NZAX to the NZX.

BAA

[Snow Leopard]

In the "Roadmap Announcement – 2015 A Landmark Year" 19 Mar 2015 https://www.nzx.com/companies/VML/announcements/262048 it is stated "To gain access to a larger pool of investment capital and with a view to realizing greater value for shareholders, VMob intends to dual list via an IPO on ASX this year. The company’s NZX listing will be retained." [emphasis added]

The observant will notice that VMob are indeed not listed on the NZX per se, moreover their listing is on the NZAX. It would seem appropriate and "with a view to realizing [sic] greater value to shareholders", that VMob at or around the time of listing on the ASX also seeks a promotion from the NZAX to the NZX.

BAA

NZX is NZX Limited who operate wot people call the NZX which is an umbrolly term for the NZX Markets of which there are many and include:
NZAX - the NZX Alternative Market;
NZSX - the NZX Main Board.

So VML is already has a NZX listing because it is on the NZAX and does not need to move.

--------
Strangers from away places bring stories of a fabled market called the NXT, where technology stocks can roam free.
But though the stories have endured for many a year no-one has ever found this NXT, though many have tried, and it is now widely believed to be a myth.
This is a pity because it would be a lovely place for VML to move to.

The End.
--------

Best Wishes
Paper Tiger

[Baa_Baa]

Nonsense, with respect PT.

VMob shareholders in NZ would be much better served by the rigours of VMob reporting as a 'market participant' on the main board of NZX than the current NZAX listing with its lax rules, (refer recent argument as to announcements of market wins, followed by, share placements to directors and insto's - it wouldn't happen under NZX rules), let alone downgrading to the to-be NXT with next to no rules.

By listing on the ASX, the disparity between reporting by the ASX rules, which are way more rigorous, versus NZ listing rules on the NZAX, will make VMob's listing on the NZAX seem cowboyish. Heaven forbid downgrading to an NXT listing.

BAA

NZX is NZX Limited who operate wot people call the NZX which is an umbrolly term for the NZX Markets of which there are many and include:
NZAX - the NZX Alternative Market;
NZSX - the NZX Main Board.

So VML is already has a NZX listing because it is on the NZAX and does not need to move.

--------
Strangers from away places bring stories of a fabled market called the NXT, where technology stocks can roam free.
But though the stories have endured for many a year no-one has ever found this NXT, though many have tried, and it is now widely believed to be a myth.
This is a pity because it would be a lovely place for VML to move to.

The End.
--------

Best Wishes
Paper Tiger

[sommelier]

I think we would be best served by the company worrying less about where they are listed and more on how fast they can grow, making that growth sustainable, and guiding the company to profitability. More 'rigorous' reporting is costly and time consuming. I'm not talking about the wage cost of getting a middle manager to put a few days into sorting it out, I'm talking about the opportunity cost of board members having to talk about it all the time. You are incorrectly reading the recent share placement:market announcement correlation if you think rules would change the outcome. An ASX listing is only preferably if you intend on selling your shares as soon as you think you can swindle someone into overpaying. With the company valued at a tentative $30m, the NZAX is the right place for them.

[Monty]

If the projections I have done on the possible impact of the McDonalds Global Contract then VMob are going to go through a significant growth period. Revenue I believe is set to increase exponentially and this company will hopefully soon shed its penny dreadful status. Maybe the NZAX is soon not going to be the appropriate place for listing?

[sommelier]

That's the financial position we are all hoping for.

[Baa_Baa]

If the projections I have done on the possible impact of the McDonalds Global Contract then VMob are going to go through a significant growth period. Revenue I believe is set to increase exponentially and this company will hopefully soon shed its penny dreadful status. Maybe the NZAX is soon not going to be the appropriate place for listing?

Agree Monty, with your growth expectation, and whether NZAX is appropriate for VML to be listed upon, after listing on ASX. My point is about disclosure rules, which exist to inform investors.

An ASX listing enforces substantially greater controls over disclosure, way way more than an NZAX listing requires (ref FMC Act). If we investors want to know what's going on with VMob after they list on ASX, and assuming they retain an NZAX listing, there will be no reason to frequent NZAX for disclosures as our focus will move solely to the ASX for disclosures.

In addition, under ASX listing rules and disclosure regulations, there is no scope for ambiguity around the sequence of granting share placements and making market announcements. This is a good thing for smaller, non-institutional, non-sophisticated, and non-insider investors.

It keeps the VMob board honest, it enforces full and open disclosure.

BAA

[Baa_Baa]

Sellers queuing up, a reversal of the bid/ask queues from the open.

[Baa_Baa]

I always want to buy some more WD but I'm a minion who only has so much pocket money to spend before the family goes without dinner. Have you got some at mates rates?

BAA

I think you will find it only appears that way, there has been an increase in bids both price and volume on the bid side (although it has reduced by 133,888 @ 1.8) if you include the trades since open….and only the 2.2 sells have increased, others above pretty stable other than 150k extra @ 2.4? 2.2 seller I suspect has beefed up the sell behind the seller that has been there since 31/3/15 (300k) and is first in the queue, so I think the rest of the sellers perhaps want you to keep selling to the 2.1 bidder?

Just my take….are you wanting to buy some more Baa Baa?