And a brand new Board…
Printable View
I mean what kind of a Board with all the cash on hand that they have…plus an imminent property sale…
Won’t even give the market any certainty that they intend to do a buyback and then resume dividends from Feb?
Sure, add in all the caveats etc! OBVIOUSLY you wouldn’t be able to pay the divvy if things deteriorated between now and Feb…
But if you were clear with the market that this is what you intend to do, then Mr Market would start pricing those dividends in on the basis that they are more likely to get paid than not.
Christ it just breaks your heart.
If NZME can declare a buyback in principle…what’s going on with us?
Has Joan been any use in explaining what is going on? Or are her lips sealed?
https://www.nzherald.co.nz/business/...MJLUTDCEOCI5M/
By signalling a clear intent, the market lifted the value of the business 6% without even blinking.
Sky can't declare an intention for the buyback until they sell the property (which is taking for ever).
But one would hope they would follow the same path as NZME once they have.
In a way, maybe them not declaring a clear intention for a dividend either is good for long term holders. If they go the on-market buyback route then having a SP that is as low as possible is actually favourable in terms of them being able to buy back the maximum number of shares.
But I am really scraping the bottom of the barrel now to try and give the benfit of the doubt...
Surely the Property sale price would have to be a very good price. Having to wait so long.
I wonder if Osmium was pushing NZME for buybacks behind the scenes.
Surely they want to do something similar to SKY ? or maybe they want SKY to do a NZME takeover?
Something is brewing
https://www.nbr.co.nz/node/232484/#comments
AlmostConfused sends a warning shot to the SKT Directors...