sharetrader
  1. #11241
    Member
    Join Date
    Aug 2021
    Location
    Christchurch
    Posts
    214

    Default

    These agreements (even when highly likely to finalize) are highly conditional agreements. In addition to due diligence clauses, there will potentially be a confidentiality clause aswell, as this is a commercially sensitive matter (the parties will both be well represented). We won't get an update on the sale until it's unconditional.
    Last edited by snigmac; 26-11-2021 at 06:52 AM.

  2. #11242
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,487

    Default

    Quote Originally Posted by snigmac View Post
    These agreements (even when highly likely to finalize) are highly conditional agreements. In addition to due diligence clauses, there will potentially be a confidentiality clause aswell, as this is a commercially sensitive matter (the parties will both be well represented). We won't get an update on the sale until it's unconditional.
    Depends on the sale process, a S&P agreement can be rather tight around conditions.

    One of the sale process of a huge piece of dirt in Flat Bush Auckland was conditional only on Council's confirmation of the sub-division plan. All other conditions (due diligence, finance etc) were considered satisfied when the final two bidders were invited to put in their final bid.

  3. #11243
    Member
    Join Date
    Aug 2021
    Location
    Christchurch
    Posts
    214

    Default

    I'm just saying that it is a easily defendable position for SKT to not disclose updates on the sale of the property based on the confidentiality clause that is likely to be in the agreement and the conditional basis of the agreement.

  4. #11244
    Member
    Join Date
    Aug 2021
    Location
    Christchurch
    Posts
    214

    Default

    My understanding is that they don't need 34A to proceed with a development, however, it will be abit more expensive (for the developer). There are rules around withholding consent when it is unreasonable to not provide consent.
    Last edited by snigmac; 26-11-2021 at 11:42 AM.

  5. #11245
    Senior Member
    Join Date
    Jul 2020
    Posts
    850

    Default

    You gotta be kidding me!

    https://www.directbroking.co.nz/dire...spx?id=5876464

    Announcing strengthened leadership team , would have been the right moment to mention Pooman leaving the country right???

    Sick of this board.

  6. #11246
    Investor
    Join Date
    Jul 2014
    Posts
    5,643

    Default

    Quote Originally Posted by jimdog31 View Post
    You gotta be kidding me!

    https://www.directbroking.co.nz/dire...spx?id=5876464

    Announcing strengthened leadership team , would have been the right moment to mention Pooman leaving the country right???

    Sick of this board.
    More nuggets in the newsletter, should hear soon about property sale sometime in Dec. Looks like someone from company has been reading this thread and shareholders agony over past few weeks.

  7. #11247
    Member
    Join Date
    Jun 2021
    Location
    ADL
    Posts
    33

    Default

    Ogg you’re so positive today!

  8. #11248
    Advanced Member
    Join Date
    Jun 2020
    Posts
    2,237

    Default

    I got the impression from today’s “Investor newsletter” that dividends or share buybacks are off the table.

    The Board is committed to recycling capital to reinvest in areas of the business that create the most value for our customers and, ultimately, our shareholders.
    Share price hasn’t budged today on this update.

  9. #11249
    Member
    Join Date
    Jun 2021
    Location
    ADL
    Posts
    33

    Default

    If that’s the case, I’m very interested to hear about their plans to deploy the prodigious FCF Sky is generating. Even more so after the funds from the property sale come in

  10. #11250
    Banned
    Join Date
    Aug 2021
    Location
    Christchurch
    Posts
    276

    Default

    Time to chill out and wait for Decembers announcements. Seems like the board have got the message...

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •