I had been planning to hold on to the old box for as long as possible, but the burning small indicated it was fried.....;)
Quite alot of Sky inertia in our house too......
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lol, if I need to return my old box because it breaks and can't get another old box, I will just cancel and buy the Sports Pass thingee for much cheaper.
Surprised that no one here comment on the SP heading north towards $2.90 :)
We must be due an update soon? I suspect the AGM is a deadline for the deal otherwise the Board will be asked multiple questions.
Could break into $3 range soon…
Dont make me repeat the baseless rumour I started earlier
($3.50 + special div).
Hey MT, would you be up 6 figures if you had held on?
Interim CFO is in.
http://nzx-prod-s7fsd7f98s.s3-websit...727/406078.pdf
Would the fact that a member of senior management is allowed to buy, have any meaning for their takeover situation??
Decent amount as well... $120kish. Sign of confidence.
It would indicate to me that there is no ongoing buy out discussions for now..... He would be involved in these (surely) and so unable to purch shares...
Where there is smoke, is there fire.....??
Even though proposal was "highly preliminary, incomplete and confidential" as well as "highly conditional and non-binding".
Thoughts for likes of our Meme master who couldn't stand the pressure of a long wait .. shame :)
...................
Would love to get OGG’s thoughts on this.
Did you have to pay for the new box.The old box had a long life and would be replaced if there was a problem.
Safe to assume no update now until the AGM next week?
bid was too low: https://www.nzx.com/announcements/421232
Told to bugger off ……..There will be another offer …one day
Sophie keeps her job
http://nzx-prod-s7fsd7f98s.s3-websit...232/406653.pdf
Balance you sold the top last week right?
Todays AGM addresses and presos
http://nzx-prod-s7fsd7f98s.s3-websit...276/406699.pdf
http://nzx-prod-s7fsd7f98s.s3-websit...276/406700.pdf
http://nzx-prod-s7fsd7f98s.s3-websit...276/406701.pdf
http://nzx-prod-s7fsd7f98s.s3-websit...276/406702.pdf
2024 guidance unchanged.
..............
1. Wonder how much this being a year with both Cricket and Rugby WC makes a difference.
2. "FY24 - Roll out new Sky experience"... worrying.
3. Why are they in a "significantly improved rights negotiating position"?
Presumably the directors can no longer buy or sell SKT shares, unless they disclose to other shareholders the price and conditions, at which the offer was made.
“Yesterday Sky received an updated NBIO from the third party (which remained highly conditional and non-binding), proposing a transaction at a value range which falls short of the Board’s view of the fair intrinsic value of Sky and, based on recent unsolicited feedback, the view of a number of Sky’s institutional shareholders”
Reading that release, I am supposing that the SKT board was happy for details of the offer to be revealed to certain large shareholders who gave the “unsolicited feedback” but not to individual shareholders.
Don't need to know the offer to give unsolicited feedback about fair intrinsic valuation
Wonder if MT can give intel on what has unraveled?
I am not privy to any inside information, so no no intel from me.
All I will say is that I was critical of them releasing to market that they had been approached when, according to the board, the discussions were very early.
You don’t do business that way - get the punters excited to pump the price so that the bidder will walk away.
The Board, Sophie et al keep their jobs this way. But who would ever want to put in a bid to buy sky now? If this is how they will treat you?
Anyway, onwards and upwards. If they can’t sell the business for whatever they perceive intrinsic value to be then, if I was an owner, I would want to know what the (good) plan is to diversify revenue streams.
In the meantime, satellite base will continue to erode in favour of cheaper streaming options.
I'm very happy with the results and the outlook to 2026 that's showing confidence. This has turned into quite the turnaround story, even good to see the Chair display SP performance relative to the NZX50.
Lucky that Sophie is pleased with performance, excited for the future, animated in her presentation, to offset the rather dour Chair, does he ever crack a smile! Although he did handle the inane questions pretty well I thought, given that a couple of them were repeats of questions at the previous meetings, including that poor woman who is still aggrieved by the consolidation and think that somehow relates to her pitiful dividend, LOL. And the 'how many of the Board live in NZ' question, OMG, frankly surprised the Chair didn't give them a good slapping.
Buy-back restarting, that's good. Lots to like about SKT now imo, a good solid LT hold from here.
Agree. I’m happy with the company. Lots to like and a core holding for me on the improve, with a buy back and a shelved takeover offer.
If I had any funds……
I'm also glad that the board is short sighted and risk regretting later. As long as the cashflow is good enough to generate decent return to investors ie. on par with current TD of 5-6%, then I'm happy to hold on and not part with any of my shares.
Alright, alright, which one of you was this?? :p
Sky board grilled on share price 'skydive' One Sky Network Television shareholder said they had lost $10,000 after investing $15,000 in the company and asked its board about its “share price skydive”.
Another, Coralie van Camp, said she bought shares at $6.09; she, too, had watched the shares “dive”.
Read on »
The Australian reported declined offer was $3.70! 50% premium.
https://www.theaustralian.com.au/business/dataroom/oaktree-and-quadrant-weigh-sale-of-mediaworks/news-story/239fe625d21a7ffc1747df6be2d0a454
Attachment 14828
The Sky board never fails to disappoint
When have takeover information leaked to the Australian newspaper ever been right?
Compare and contrast with the AFR’s Street Talk and it’s clear imo that the Australian is used for stock manipulative purposes.
$3.70!!!!
Holy **** that deserves a shareholder lawsuit of the board and management.
Also does that breach NZX rules?
I sense chaos to commence.
NZ is a small country with an even smaller sharemarket. The Old Boy Network runs the institutions, the “institutional shareholders” and boards of directors. These “old boys” determined that the details of the offer were not to be released to the mum & dad small shareholders. We take what they want to give us. In other words we are the last to know of things that affect the value of our shareholdings. In NZ we are supposed to invest in our expensive housing.
They prob just want all to feel content sucking up the 15c a year Div spit outs and not complain ..
things could have been worse .. like hovering up Mediaworks with attached large hock, or as an enhancement to that sliding into into bed with another Media Rag Doll that has seen better times :)
Wonder hw they got away without disclosing that to the market, especially when it’s at such a premium. Where’s NZ Regco in all this..
And what’s Board’s view of true value of Sky?
Guess first offer is never final offer, may be we might see another offer with 4 in front..may get some traction then.
There is quite possibly more to play out with this story. It seems that this little 'tyre-kicking' episode was a precursor to something more serious? Wouldn't be surprised at all to see another bid come in within the next 3 months (and not necessarily from the same party).
Especially if the NZD continues to deteriorate, making the proposition even more juicy from an o/seas acquirers' perspective.
such cynicism of our open and transparent market. Who has hurt you Balance?
Haha - don't look at a gift horse in the mouth!
Exhibit 1 : The Australian 27 April 2021
A2 Milk back on takeover radar
With A2 Milk shares stuck firmly in the doldrums, market chatter suggests the battered dairy supplier could be back on the radar of potential suitor.
Exhibit 2 : The Australian 17 August 2021
" ..... the beaten-down share price rallied briefly above $7.00 on reports that A2 Milk has become a takeover target for Nestle. A takeover by the Swiss giant would reinvigorate A2 Milk's infant formula in China and leverage Nestles in-country distribution network. A2 Milk has declined to comment on the takeover speculation leaving the market to ponder the possibilities of a takeover."
Exhibit 3 : The Australian 25 Jan 2022
The Australian newspaper has linked A2 Milk to the Canadian dairy giant Saputo, which is reported to be close to making a big acquisition.
But of course!
Did you not observe how ATM's sp was heavily manipulated imo via the Australian newspaper (refer post #14062 above) so that some sold out at good prices?
Only trust the AFR Street Talk if you want the good oil/leaks - that is the authority when parties want to leak information for real takeover effect.
Truth be known, ever since Adam became a Cowboy, all sorts of 'smoke & mirrors' games have played out through various media channels, including at the AFR.
Just remember though, this is a Chess game, not Draughts, so probably a few more moves to come yet, before Checkmate?
Fingers crossed for you Balance, that you haven't succumbed at the 11th hour and 'snatched defeat from the jaws of victory'. ;)
A2 hurt me. Lol. Common theme on here.
Thats what makes this so much fun, lies, manipulation, hidden agendas, who to believe, wheels within wheels.
Trying to limit my downside and keep rolling the dice for a win. Come on SKT!
Still no on market buyback, a further offer been made ?
When the buyback stops again it can only mean one thing…. More to come on this one in the coming months!
ah they have bought some. 30k shares on monday
http://nzx-prod-s7fsd7f98s.s3-websit...577/407092.pdf
Bowman drops another cool $540k into SKT, up's his holding to 600k shares.
Sophie buying more....
http://nzx-prod-s7fsd7f98s.s3-websit...760/407375.pdf
Bowman and she knew the terms of the offer that they rejected; small shareholders didn’t. So they’re making use of that insider information?
All we know is that the price was too low and highly conditional. But we have no idea what was the price and what were the conditions.
In the UK:
“The rule is simple: if you know privileged information about a company, you can only deal in its shares when that information becomes public.”
Buyback ramping up - 5000 shares yesterday (cough)
Bit quiet around here, seems as though price behaving in such a way that higher bid could be on the way prior to Xmas.
It's anyone's guess as to what the number will be, and when. I thought they may have offered $3 last time, wasn't convinced by the Australian articles saying $3.75. If they did say $3 and were rejected I can't imagine giant increases from there. $3.25? Would be announced pretty quickly after the share buyback next stops...
Each day they issue a notice at 8:30am re buyback from the day before, no such notice this morning…
Got to be a decent premium on the current price. $3.25 not going to cut it with $2.87 currently.
Waiting hopefully here...
I look forward to my pessimism being proved wrong!
No notification for buying yesterday...
Yeh probably the person in charge of buying has taken a sick day...
Surely there is no statement that they have to buy every day.....
Not necessarily a reach-around every time lads.
Sky Sport price going up …..when I cancelled man at Sky said many cancellations today
I cancelled on news of the price increase for Sky Sports. Tried to do so online but the system would allow a cancellation so had to do it via chatbox.
The operator said that the online cancellation service had been overwhelmed with cancellations, this being the reason it wasn't available!
I think SSN has been the way to go if you want sky sport for a while now.
Rather than pay $80+ a month for satellite by the time you add starter + sport + MySky fee you can pay about half that for just the sport content and you are only on the hook for a month at a time (cancel anytime and can all be done online).
And a lot of people agree with that given the high growth rate of SSN subs.
At the expense of high ARPU satellite subs though. Always a catch.
Just cancelled NEON. The introduction of ads is too much. Torrents still exist.
Stop it you lot .. you can't all walk away & not expect the Boss Lady to not be eyeballing the next dividend ;)