Quote Originally Posted by blackcap View Post
For Vector this stake is a drop in the bucket. Vector did not announce anything to market themselves (ie we have sold our stake in...)

To sell such a large holding can sometimes mean you need to accept a discount to market price. 10 cents is probably what their broker told them they could liquidate at. If they wanted to sell on market with the amount of turnover that NWF has it would take them years. So they probably thought to hell with it and lets just do it all in 1 go. I do not have a problem with it and as a long term NWF holder I think this will be good for NWF in the long run.
Remember Vector did/does have egg on their faces with this holding in that all their representatives pretty much got booted off the board/voted out and their influence was made non existent.
All good points. I also think that Vector took the removal of their reps very personally (or at least those reps themselves seem to have). What other reason would they have had for voting against last year's proposal to buy out the onerous powerco lease?
I picked up some more yesterday at 10c in the selldown but don't mind declaring here that I would have paid more (and bought more) than I did had I been offered the opportunity. I think that Vector wasn't really trying to maximise their price but probably rather got more satisfaction from seeing the effect of dropping their shares cheaply (since the vector decision makers weren't playing with their own money at the end of the day, why not have some fun and extract a little bit of utu at the same time).

I'm of the opinion that most, if not all, of the previous problems that besieged NWF were directly attributable to the litigiousness and arrogance of the previous board and management. It doesn't surprise me that given those same personality flaws and overblown egos are still in control at Vector, we see these bizarre decisions.

Good riddance I say.