Hi Tim
Sorry my error - typo. Should have read 100%. My understanding was that they were trying for a take over?
-d
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I think they are okay with partial takeover it's not an aggressive play
Hi tim23
You are quite right - I think they are on record as being happy with about the remaining Todd share. It just reinforces my stance that they are wallying about - not quite sure what is best but shoot at anything that may move. Argument has been proposed that AK just wants the detailed research data and scans to leverage an advantage in Taranaki but I can't see any % held in Cue providing any data availability. Cue is a very minor player Maari included. So why would the other participants give the crown jewels to an opposition company NZO, allowing enhanced future competitive block bidding.
-dodgy
Discl: Current hold NZO and Cue.
Hi Guys
Looks like another top shelf governance / management decision. Buy back the punters $1.50 shares for 75c and then the market settles below $0.60. This was always on the cards. Buy backs of this nature are never that successful. About time some accountability? Maybe Digger could threaten tractor based mayhem. Threats seem to be the flavour of the day, milk to politicians and Kauri climbing. Seriously, this ship appears seriously rudderless. Where to from here?
Ideas?
-d
Discl: Current holding - too many for comfort.
Slightly off topic, but I hope that's not an issue. I have been loosely monitoring the Cue on market acquisition progress, and notice that the number of buyers at $0.10 fluctuates, and is now up to 8 (refer depth on ASB Securities site). But these 'other' 7 buyers are playing a futile game are they not? Doesn't NZO's bid at $0.10 take precedence if it was placed first, or is that not how it works? i.e. wouldn't NZO's full order have to go through at $0.10 before these other 7 got a crack at any shares offered for sale at $0.10 ?!?! im confused?! (easily done mind)
NZO gets kicked out of NZX50 at the end of next week
Best Wishes
Paper Tiger
PS: If the broker of a buyer at $0.10 has a seller at $0.10 I think he match up internally before going out to the market. So the NZO cheeky-bid may not get everything.
PPS: Don't quote me on the above - I am not totally sure of this for the ASX.