nzos stake in ppp up to 8.996 % from 7.083 % from yeterday
https://ost.asbbank.co.nz/A1699D0F22...ZO&exchange=NZ
Printable View
nzos stake in ppp up to 8.996 % from 7.083 % from yeterday
https://ost.asbbank.co.nz/A1699D0F22...ZO&exchange=NZ
As per normal the NZX releases it's announcements in a format which borders the unreadable. I'm starting to think they do this just to piss off its customers (us folk) as they are well aware of the criticism.
For an easy to read version
http://www.asx.com.au/asxpdf/2008121...p6m05rsgq4.pdf
from a news article it seems as thogh nzo have already approached the Australian Foreign Investment Review Board
" NZOG spokesman Chris Roberts said the company had applied for that approval, as a matter of course, so it had the option to go up to 19.9 per cent."
http://nz.biz.yahoo.com/081217/9/9v0n.html
who knows where this is headed
Quick calculation for a full takeover - 588m PPP shares at say 35c = $205m NZD
And PPP has $148m AUD in the bank which is about $176m NZD, so it could effectively cost just $30m to get 10% more Tui, plus all the other bits they hold.
35 cents isnt going to get them ppp lets be serious now
directors arnt going to let go of shares at this level. PPP have a NZ$0.30 cash backing the value of tui and its permits are worth well over NZ$0.05 investors realise this look at nzo share price and think how much tui is worth and translate this back to ppps shareprice.