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PPP stanoffish
I contacted PPP today and at best i would have to describe the person who answered the phone as standoffish. What i was after is a simple clarification on yesterdays announcement.
I strongly recomend everyone to call PPP on + 61 2 9957 2177. At least to ask for clarification or to speak to Tom Prudence as outlined in yesterdays announcement.
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Pipeline,
a man of few contributions, but that is a very good summation. Thanks
In hindsight, perhaps we saw the smart money selling around 80 soon after the positive announcement re the drill results, i.e. those with more industry savvy realised that PV would back-in. Possibly explains that big dump that came out of the blue a while ago.
This imprudence might mean no Prudence.......
disc: feeling 15% of the pain via NZO
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Pipeline. I strongly suspect you are on the money.
PPP approach to the farm in was a sort of opportunistic event that in reality was always going to be a lose lose situation. Im saying that with the be3nefit of hindsight but also know its unrealistic to assume that PPP could simply walk in a few weeks before the drill and get a free ride so to speak.
Like anything in life its the pre planning, planting the seeds, setting the foundations first etc that is important. Clearly this wasnt done.
Next....
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I have taken the liberty in talking to other bigger shareholders of PPP. The general feedback is that PPP's announcement yesterday and other past announcements is rather vague and ambigious.
To simplify, it appears that PV has the right to take all of PPP's 15 or part of it.
Anyone had any luck in getting a response from PPP today?
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Send PPP an email and asked for an explanation.
Answer received:
Dear Sir,
Thank you for your email which I have forwarded to the appropriate person.
Regards
Marianna
OO
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Thanks also Pipeline for your comments. You are saying the preemptive rights are different from the back in rights even though they are both 15%. Going back to post 1325 from Boysey I only see a condition in the original agreement for the waiver of preemptive rights but nothing about the back in rights. Surely both should have been declared here if in fact they are separate. Why do you believe they are separate - it seems quite a coincidence they both are 15%?
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..you traders out there must be having a ball.....gee 12 % in two days.....cool man....
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Bit of Buy depth on the NZX now... Haven't seen that for a while.
When we were mid 60s and up, there was so little, that it seemed if anyone needed to sell a chunk quickly, the price would be hit hard, and that news triggered a few of those..
Good to see some support firming again. Oil prices going up again may have helped, and the general positive feeling with the DOW over 10K, and perhaps being oversold... That other farmin could be worth some $..
Wish the story with Vietnam could be clarified though..
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I am a bit suprised by the lack of discussion with this thread. As a shareholder of PPP i made all reasonable endevours to get a straight answer from the company. I have phoned and emailed but to no avail. Maybe i am just 1 of a small minority who cares about what happens to my investments.
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Nita...I too recieved minimal response.