Maybe Tattersfield ?
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The more interesting question one should be asking is, who bought? Will have to sniff through the registrar in a few weeks. PPP at these levels must be a potential T/O target.
The company is too small, dont pay a div and have little institutional interest. Brokers are only interested in researching firms with institutional interest.
Can anyone tell me why the share price is 20 cents and the value of the available assets is 16 cents per share at 30 June 2008. Must be a bargain to take over.
OO
Yes, would agree that it's an attractive proposition. Must bear in mind however that directors have large shareholdings and would be able to block anything that they didn't approve of. Meanwhile, they seem to be happy with the status quo and their directors' fees.
;)
Divide 144 mil (NZ$ cash in the bank) by 588 mil shares , my calculator says that is more than 24 ct NZ per share. Last sale at 20 ct. Thats just crazy.
OO
Indeed it is. Thats why I have bought more shares. The two directors bought over 20 million shares in the last few months. Tui is still pumping oil. It is a cash cow...MOOOooooo!
I have a feeling PPP is going on a acquisition trail. This statement says it all...
"It is anticipated that the global market volatility and credit restrictions
will yield attractive opportunities for companies that have short term funds
and can act relatively quickly, and PPP is well placed in this respect."
174 million nzd cash in hand at todays rate, based on sept 30th totals as posted in todays notices. lol
Note 2:
As at 30 September 2008 the PPP group held the following cash balances:
$million Equivalent AUD
NZD 6.9 5.7
AUD 28.3 28.3
USD 74.7 94.0
128.0
These AUD totals above were calculated on 30th Sept. ----
74.7 mil USD now = 137 mil NZD
28.3 mil AUD = 31 mil NZD
plus 6.9 mil NZD
Total = 174.9 mil NZD
29.5c per share.
Cheers.