PS - congrats to all of you who hung in there
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PS - congrats to all of you who hung in there
Hanging in there all the way from $1.50 down down down?
The crumbs from the top table must taste good?
Blow $1 billion down the shaft and dry holes, grudgingly pay a misery 6 cps dividend after giving the big thumbs down by institutions and it's celebration time?
Gee, the board of NZOG must be rolling with laughter into their champagne and caviar - they have their shareholders so well trained!
Throw a few pieces of stale leftovers and bones with morsels of dried meat on them off the top table and watch them shareholders perform tricks!
UTILICO INV. LTD.
BERMUDA
Purchases just short of 20 mil. SHARES ON MARKET between 1/6/12-6/6/12
Total shares traded over the period on nz S/X Change in round figures
1/6/12 = 863000
5/6/12 = 510000
6/6/12 = 241000
TOTAL =1614000 These went trough on average of 74 cents. nz
I got no volumes for Shares traded on the Oz. market over the same period, which is generally very thin.
Am i missing something here?
So can we have any indication how this was accomplished.
Where, on what date, in which on market transaction and at what average price?
I am quite impressed with the caliber, timing and quality of the investment Manager of that co.
Or was it perhaps just a happy coincidence that 2 days later, NZO announces a fully imputed 6pcs Div. and the S/P climbs up 3,5 cents. [ I UNDERSTAND THE LATTER]
What a windfall.
I hope i am drawing the wrong conclusions, so can you please trow some light on this.
K/R
Albert
And volume
This dividend shows the management has exactly no idea on how to progress this company. A company with a share price around 75cents paying a 6cents dividend shows the management has no clue as how to progress the company. Liquidation would be a better idea.
The SSH notice can be read here
You file a SSH once your holding reaches or exceeds 5%.
With 392,787,795 shares kicking around you can hold 19,639,389 and keep quiet about it.
On 1st June 2012 Utilico reached a total of 19,890,139 shares. Thus they could have acquired as few as 250,750 shares on that day.
Presumably they have been acquiring for a while.
The will next have to file if they drop below 5% or reach or exceed 6.06%
best wishes
Paper Tiger :)
Dividend of 6cps. I wonder whether this is sustainable year on year or whether they will start digging into cash reserves
The management knows exactly what they are doing in paying the dividend - keep the well-trained leftovers shareholders quiet for a while.
Liquidation would mean the directors and management foregoing millions of fees, commissions, consultancy work, perks and salaries each year - why do that when a few crumbs will keep the easily-satisfied shareholders in check?
Thanks for that Paper-Tiger!
In that case just good timing.
Cheers.