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16-04-2018, 12:41 PM
#931
Originally Posted by Balance
Too coincidental that CVT chooses to announce a potential takeover on the same day they had to announce a massive profit downgrade - case of trying to hold the sp up?
Anyone buying now or holding better hope a takeover offer eventuates!
Agreed, its very "Con vienient" ! Just another way directors and management are completely violating trust ? (after all if they were required to disclose this under the continuous disclosure obligations of the NZX it doesn't take a rocket scientist to understand this should have happened already).
Given there is no firm commitment from the interested party at this stage its highly debatable this needed disclosure at all.
All seems more than a little "Con trived"
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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16-04-2018, 12:46 PM
#932
Comvita’s Chairman Neil Craig is a highly respected and successful person
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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16-04-2018, 12:49 PM
#933
Peter Harris is EY's Entrepreneur of the Year.
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16-04-2018, 12:51 PM
#934
Originally Posted by Balance
Peter Harris is EY's Entrepreneur of the Year.
... touche!
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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16-04-2018, 01:04 PM
#935
Originally Posted by Beagle
Agreed, its very "Con vienient" ! Just another way directors and management are completely violating trust ? (after all if they were required to disclose this under the continuous disclosure obligations of the NZX it doesn't take a rocket scientist to understand this should have happened already).
Given there is no firm commitment from the interested party at this stage its highly debatable this needed disclosure at all.
All seems more than a little "Con trived"
CVT share price tells an interesting story :
$9.15 in Jan 2018 and the company reported a strong half in Feb 2018 and reaffirmed its full year's forecast.
Share price went lower and lower however until it reached $6.97 at end of March - 24% decline in the absence of any 'bad' news from the company. So who had been selling and on what sort of information?
Share price then spiked to a high of $7.30 as at 10 April - less than a week ago. Highly suspicious when one considers the company now discloses that due diligence has been taking place in the background.
Then, the sp started dropping away in the last few days - just before today's profit downgrade announcement!
Interesting share price movements, one must observe?
FMA and NZX, in the interests of a transparent market, must investigate and clear Comvita and all those buying and selling shares since 1 Feb of being privy to any kind of special information.
Last edited by Balance; 16-04-2018 at 01:05 PM.
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16-04-2018, 01:13 PM
#936
Thanks Balance. Even taking into account general market weakness in Feb / March on the face of it the SP performance does raise eyebrows especially in light of what I and almost everyone else I know of thought was a very good summer. Exactly what perfect weather conditions do they require before ever having the possibility of getting to $17m profit again ? This company has been a recidivist offender when it comes to really large profit downgrades. They must have known well before today that profit wasn't going to make their $17.1m+ forecast, surely ?
Last edited by Beagle; 16-04-2018 at 01:15 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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16-04-2018, 01:17 PM
#937
Originally Posted by Balance
CVT share price tells an interesting story :
$9.15 in Jan 2018 and the company reported a strong half in Feb 2018 and reaffirmed its full year's forecast.
Share price went lower and lower however until it reached $6.97 at end of March - 24% decline in the absence of any 'bad' news from the company. So who had been selling and on what sort of information?
Share price then spiked to a high of $7.30 as at 10 April - less than a week ago. Highly suspicious when one considers the company now discloses that due diligence has been taking place in the background.
Then, the sp started dropping away in the last few days - just before today's profit downgrade announcement!
Interesting share price movements, one must observe?
FMA and NZX, in the interests of a transparent market, must investigate and clear Comvita and all those buying and selling shares since 1 Feb of being privy to any kind of special information.
To be fair, there's probably 3 recent resons for the volatility in the share price.
1) Global sell off in equities
2) Recent unseasonal weather events lately
3) Ministry for Primary Industries regulation over Manuka Honey name.
Let's not fogret this stock was trading at $12 when, who was it, Winner69's bowling mates bought in?
What's A2 Milk at now $10b?
Seriously tho, Comvita is a great Kiwi company with a long history. The brands only is worth mega bucks.
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16-04-2018, 01:27 PM
#938
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16-04-2018, 01:33 PM
#939
Originally Posted by Balance
Peter Harris is EY's Entrepreneur of the Year.
That’s mean - comparing the well respected Neil Craig with Peter Harris
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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16-04-2018, 01:40 PM
#940
I see Luke Bunt is still a director of comvita
He seems to doom many of the companies he gets involved in ..last few years at least
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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