Vector Limited (VCT)

[BDLBOM]

We can't really hold company directors to account for the share price. That's under the contol of fickle investors.

Directors are responsible for the company's financial performance however, and they did recently report an 18% decline in net profit after tax. But if an 18% decline was a resignation matter a lot of New Zealand companies would be looking for new chairmen and directors at the moment!

Agreed DEEV8, it has to be poor company performance for directors to go. The 18%decline was due not only to higher interest costs but largely to accelerated depn. on metering assets which are soon to be replaced with "smart metering" devices. The board aside, the company itself is performing well and is managed by some very competent people.

[Dr_Who]

I am voting in favour of the councils to wind up the Trust. Time for trust to go. and go fast!! Please someone with any commercial competance come and run Vector and add value to the company.

$4000 payout in Vector bid

5:00AM Sunday March 23, 2008
By Jared Savage

Energy consumers could receive a $4000 windfall as Auckland authorities launch another bid to wrest control of power line company Vector.

Three Auckland councils have urged a Royal Commission of Inquiry to recommend a law change to wind up the Auckland Energy Consumer Trust, which owns 75.1 per cent of Vector.

http://www.nzherald.co.nz/category/s...ectid=10499658

[Steve]

This has been tried before and failed, although from memory the payout figure was lower...

[BDLBOM]

[QUOTE=Dr_Who;191129]I am voting in favour of the councils to wind up the Trust. Time for trust to go. and go fast!! Please someone with any commercial competance come and run Vector and add value to the company.

Agreed, The trust has yet to get it through their heads that the councils are not about to give up. Every time the councils get knocked back just serves to teach them how to approach it the next time round. It has to happen.
I suspect that current directors (excl. trust appointed ones) would love to see it happen too.

[Steve]

I suspect that current directors (excl. trust appointed ones) would love to see it happen too.

That's because the trust appointed directors would find themselves out of a job...

[Dr_Who]

That's because the trust appointed directors would find themselves out of a job...

They dont deserve to be in that job. A company in a monopoly position that cannot add value and grow!! They have had it too easy for too long. Time for them to go and go quickly to ease the pain of the shareholders. The sooner the trust is disbanded the better it is for the shareholders. Either wind up the trust or the trust privatise VCT. No point having VCT listed when it is run like a private company.

[BDLBOM]

That's because the trust appointed directors would find themselves out of a job...

The trustees will never agree. They have a very lucrative little earner clipping the ticket before the dividends get distributed.
It is incredible to think that they have another 65 years of playing santa claus, distributing the dividends and drawing nice salaries for doing so.
This will be why the councils have called for a royal commision of inquiry to recommend a law change to enable the trust to be wound up.
Whether they are successful or not probably depends on which polititions are listening and have the power to act.

[biker]

As the share price continues it's downward trend the greater the likelihood of some changes surely? It is almost getting to the 'please explain to the NZX' stage.

Disc. Converting some warrants to shares on Monday. (I know Phaedrus,.... I know)

[beacon]

Div Yield over 11% now, defensive stock, not much free float, and yield on some warrants over 33%. ...

[Dr_Who]

I am gonna buy more shares at these levels. Surely a great yield for a blue chip stock with a monopoly and potential capital upside.

Time for the Trust to get the BOOT! Go the councils, you have the shareholders and the public's support on this one.