ZEL - Z Energy.

[Muse]

yep big hurdle cleared with the sale of gull

rats now I'll need to recycle this into some other non esg friendly investment - whats your pick bull?

[bull....]

rats now I'll need to recycle this into some other non esg friendly investment - whats your pick bull?

im not counting my loot till they pass the final hurdles but as for my recycling it is very difficult to find anything i like on the NZX at this point in time. why ? because the economy heading down and inflation is heading up and probably staying at elevated levels compared to the past... this might imply stag flation we will know in time ( the govt is starting to panic ie immigration settings relaxed , talk about opening up to tourists quicker etc trying to get some growth in there ) the play was energy and commodities but they have run hard so dont like chasing these things when they have already run hard. so it is a very hard question maybe ill hold some cash for opp's later on and see how everything pans out. made plenty of gains last few yrs so if this yr is lack lustre its not the end of the world.

[Southern Lad]

Commerce Commission has granted approval to Ampol provided Gull divestment occurs:

https://comcom.govt.nz/news-and-medi...stment-of-gull

[theace]

Do we get any divies before we hand the keys over?

[Grimy]

Only if the process gets dragged out. And if they do pay a dividend the value of that is deducted from the settlement price. So in effect, no.

[bull....]

Do we get any divies before we hand the keys over?

your get another 5c if the deal isnt settled by end march



The Z Energy board has unanimously recommended Ampol's offer of $3.83 a share, which has been boosted by Ampol agreeing to the payment of 5 cents a share of the next dividend.
The deal values Z Energy at about $2 billion.
"The Z Board unanimously recommends that shareholders vote in favour of the scheme, subject to the scheme consideration being within or above the valuation
range specified by the independent advisor and in the absence of a superior proposal being made for Z," the company said in a statement.
The payout would increase by another 5 cents a share if the deal is not settled by the end of March next year.

[Grimy]

From the recent scheme of arrangement booklet.

Adjusting Permitted Dividends: On 8 December 2021, Z Energy paid an interim dividend of NZ$0.07 per Z Energy
Share.
If Z Energy pays any further dividends in respect of the financial year to 31 March 2022, the amount of such
dividend(s) will reduce the Scheme Consideration payable by Ampol.

[Bjauck]

Will this scheme result in all the consideration from the takeover being treated as a taxable dividend? As happened with (for example) NZ shareholders with respect to the take-over proceeds from the NZX listed Diligent Corporation (DIL) scheme about 5 years ago. The documentation does not disclose the taxation consequences for shareholders.

[Simsee]

Any ideas as to, provided the vote is sell, when the $ would hit our hot little hands? Thank you

[uravgtrader]

So, what's the consensus, yay or nay.