ZEL - Z Energy.

[see weed]

Yep, all of that TJ, all true.....let's just also remember that COVID only affected fuel consumption for 1 week of this reporting period. Z managed to achieve most of this disaster all by this themselves!
This company has got serious and systemic issues way before covid gets layered over it.
interesting that Morningstar have a valuation of $8.30. Maybe they are still at lockdown level 4 and having internet issues.

Maybe ASB Morningstar should put their money where their mouth is.....Buy Buy Buy...Valuation $8.30 for the last month or so.

[peat]

We havnt had any ZEL since our big selldown on Feb 4th but we have been offered some $2.75-$2.85 and we have to let them know by midday.

the implications of that are a bit scary ….

scary enough to turn down I would imagine.

[Grumble]

Maybe ASB Morningstar should put their money where their mouth is.....Buy Buy Buy...Valuation $8.30 for the last month or so.

I can't remember the last time I've seen an accurate Morningstar valuation.

[cyclist]

http://nzx-prod-s7fsd7f98s.s3-websit...961/221717.pdf



This may be a stupid question but how can they justify such a large book build price compared to current market price considering future uncertainty, high company debt, low NTA, etc?

Does this mean they are effectively valuing ZEL at some amount HIGHER than $6.00 - $6.20/share (considering the effect of 30% share dilution from equity raise)?

The date of that document may offer a clue .....

[Sideshow Bob]

I can't remember the last time I've seen an accurate Morningstar valuation.

Definitely an oxymoron.....

[Mya]

The date of that document may offer a clue .....

D'oh you're right. It was attached to an NZX announcement but I see that has now been removed... Will delete my past post in shame.

[Joshuatree]

the implications of that are a bit scary ….

scary enough to turn down I would imagine.

I ve thought that about most of the raisings so far and what, have all/most of them been easy money for arbitrage/trading/profiting on selling existing holdings and buying the SPP cheaper.?

[macduffy]

I ve thought that about most of the raisings so far and what, have all/most of them been easy money for arbitrage/trading/profiting on selling existing holdings and buying the SPP cheaper.?

Let's wait and see what price the shares come back on when trading recommences!

[HKG2301]

...by midday if we want to partake.

I missed that, until after midday. Bit of an unseemly rush?

I'm a shareholder, but no longer through a managing broker (FB charges like a wounded bull), so didn't receive any communication from ZEL that I'm aware of, to allow me to partake in the placement. I did spot the Direct Broking banner, but it omitted any reference to a midday deadline, which would have been useful.

Still, at $2.75 I think I'd still have decided to wait for the SPP, which may very well end up cheaper!

[tango]

I missed that, until after midday. Bit of an unseemly rush?

I'm a shareholder, but no longer through a managing broker (FB charges like a wounded bull), so didn't receive any communication from ZEL, that I'm aware of, to allow me to partake in the placement. I did spot the Direct Broking banner, but it omitted any reference to a midday deadline, which would have been useful.

Still, at $2.75 I think I'd still have decided to wait for the SPP, which may very well end up cheaper!

I think the SPP is also $2.75

I didn't see the banner on the Direct Broking website and I am undecided if I want to participate in the SPP. It looks like another one of those stupid put in up to $50K and we will hang on to it, give you almost no shares and then when they finally get around to it refund the balance. I much prefer rights issues with the option to oversubscribe. It makes it much easier to gauge how much money to put in. I have so many SPP at the moment that I want to be selective