Snakk

[Balance]

Point taken but Snakk was not a backdoor listing.Montana and Hellaby and Chase were backdoor listings so all are not bad.I know Chase went away but he others are still ok.

Montana was not a backdoor listing - it was part of CIL and when all the other assets of CIL were sold off, CIL was renamed Montana.

https://www.nzx.com/files/assets/rev...dance_note.pdf

"Compliance listings are similar to reverse and backdoor listings, in
that the listing is usually completed without the need to complete
disclosure documents under the Securities Act."

To me Compliance listing is worse than backdoor listing - appearance of decency but same smelly unwashed undies.

[Copper]

maybe Balance re Montana. but I based my post on an article by Brian Gaynor in February 2008.he explained the sequence of events when they bought Montana etc.He said it was perhaps the most successful backdoor listing.May be a matter of interpretation.

[zigzag]

maybe Balance re Montana. but I based my post on an article by Brian Gaynor in February 2008.he explained the sequence of events when they bought Montana etc.He said it was perhaps the most successful backdoor listing.May be a matter of interpretation.

Montana was not a backdoor listing. CIL sold of all of their investments other than Montana, then changed their name to Montana. GPG are doing exactly the same thing i.e. sell everything bar Coates, and then change the name from GPG to Coates. There is nothing inherently wrong with a backdoor listing. You just need to exercise a bit more caution. Like I have said before, Abano and Charlies were both successful backdoor listing. Compliance listing are just, well, just what they say they are, for compliance and quite benign.

[CJ]

GPG are doing exactly the same thing i.e. sell everything bar Coates, and then change the name from GPG to Coates..

Tower has done the same, decimating its business so much that it is being forced to hold more capital. But I digress

[steve fleming]

Montana was not a backdoor listing - it was part of CIL and when all the other assets of CIL were sold off, CIL was renamed Montana.

https://www.nzx.com/files/assets/rev...dance_note.pdf

"Compliance listings are similar to reverse and backdoor listings, in
that the listing is usually completed without the need to complete
disclosure documents under the Securities Act."

To me Compliance listing is worse than backdoor listing - appearance of decency but same smelly unwashed undies.

On the ASX all new listings (IPOs, backdoor, compliance) are subject to the same disclosure requirements - mainly an ASIC approved Prospectus

Backdoor listings on the ASX have an added level of compliance in that the existing shareholders are required to approve the change of activities, which means there are additional expert reports and documentation required to support the shareholder vote.

I don't know why the NZX would be so lax.

[Copper]

Many tks Balance and others for a good discussion. I went back to Brian Gaynors article and he used the terms backdoor listing and reverse listing on the same company.Definitely a difference in my opinion.Good comment on ASX Steve.
Regards

[see weed]

Is that you Moosie....300,000 at .093c to buy. Good on you mate, thats what we like to see.

[Balance]

You have to laugh at the little games being played at the snake pit.

Someone sold the shares down to 9.1c and out pops a buyer at 9.5c with fresh air between him and 9.1c.

He gets taken out in plenty quick time.

Now what kind of idiot pays 9.5c when the trdaes are going through at 9.1c?

[Balance]

lol, looks like you've caught the snakk day trading bug eh balance? good fun to watch (but not participate in) eh?

I like to watch the massaging of the snake as it slithers along the slippery slope.

See how someone has had enough and took out all the 9 cents?

[Copper]

Do either of you guys know why your number of posts has not gone up for months despite all the action. Mine haven't either.That's the number under your join date etc.Just curious.It's one of those lazy days when the mind strays to other useless pastimes.