Best defense against takeover is performance and sp strength.
NZOG has neither - just a bunch of clowns who have destroyed hundreds of millions of dollars of shareholders wealth.
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Best defense against takeover is performance and sp strength.
NZOG has neither - just a bunch of clowns who have destroyed hundreds of millions of dollars of shareholders wealth.
I sense some changes in the wind. Now, where is the Zeta to our RAK?[/QUOTE] By BFG
Zeta maybe busy getting a director on CUE Energy's Board, a move opposed by that Cos. Directors.
Also what is the Tax situation with this share-buy-back scenario anybody??
BTW Digger; the 6 cents div. this year looks now like a CLAYTON Div. PAYMENT. when you end-up out of pocket, not getting one.
Typical Smoke & Mirror stuff, one is quite getting used to.
The CR applies to all holders wether they like it or not.
Just imagine if there was an opt out for the CR - this would lead to 2 types of shares - one that has had the CR, trading lower than one that has not had the CR = very confusing and very expensive to manage
The CR is coming with the "changing of the guard" and which directors will still be around 1-2 years from now is yet to play out
M
[QUOTE=the machine;518079]The CR applies to all holders wether they like it or not.
Just imagine if there was an opt out for the CR - this would lead to 2 types of shares - one that has had the CR, trading lower than one that has not had the CR = very confusing and very expensive to manage. End Quote.
That the capital return applies to all shares whether they like it or not is as how I first thought it. But what if it isn,t. Well for a start your bit about two types of shares is simply not correct. There would be just one type of share as of now it is just that those that did not take part would not have 20% of their shares cancelled and would therefor increase their percentage holding in the company.. If Zeta did not for example there % holding in the company would go from 20% before the buyback to 25% after. That would be a way around the takeover code as from my above post.
[QUOTE=digger;518088]Waiver required from NZX and other shareholders for Zeta to creep another 5%.
Zeta needs the cash so there is no issue in my mind of them not accepting.
Meanwhile, sp is getting down towards 65c, Digger-me-ole-mate. You there to help yourself to a few of the little beauties at 65c?
How does a CR result in cancelled shares? I can see how a buy-back could result in a company's holding rising above 20% if they elected not to take part (in which case I assume they would be required to sell down to below 20% again). However, a CR only results in less capital backing for the same number of shares?
[QUOTE=Balance;518096]
hi Balance me-old-mate. Do not worry I have not forgotten you or the 65 cent thing. It is just as it gets near 65 someone else buys it back up. Also it seems that the SP could rise as the WTI has bottomed and rising a little. Also with the 20% share cancellation the worry that the CR will just come off the SP is removed. Think I might miss out on those good 65 cent shares you promised me. Of coarse you could buy them at whatever and on sell to me at 65,just to keep us all sweet.
I did like that bit about I give as good as i get. The problem is that some other do not have the same since of humor and take it too seriously.
cheers all
[QUOTE=digger;518115]Just sit there at 65c, Digger - I have a nice feeling it will come to you within the next few days.
Otherwise, what's a cent here and there amongst ole-mates? :D
Me thinkth some posters have have fallen seriously for NZOG and can't bear for it to be describe as 'ugly'? Bit like the first girlfriend? :D
Where's Balance? - thought he'd be crowing from the rafters today.
I'm interested in this line from a Morningstar report from last month: "Woodward Partners said in the past decade NZOG had taken part in 28 wells with an overall 46 per cent success rate, which was no worse than average for the region."
Suggests NZOG has had more than 10 successful wells in the last 10 years. Apart from the recent Pateke well I can't think of any commercial discoveries since 2004, given that Indo hasn't been proven up yet and the Tui field production wells weren't discoveries. Any ideas?
Balance before you start crowing my computer is broken down and I can't reply.