I think Zeta may well have something to say about that.....
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What worries me is that they make no mention of returning all cash to share holders asap, rather returning some (maybe)
I probably shouldn't have included the maybe, the rest of the statement remains true.
ie they have not said they will wind up the company, and they have not hinted any details on how they plan to move forward, other than "looking for opportunities to deploy our cash by acquiring new producing assets with a preference for gas in markets we understand"... huge uncertainty, with both finalized/total cents per share return and how/if they will continue - at least, this is how I see/saw it, and hence promptly sold
Maybe they will issue a new load of shares to take on an "opportunity" (unlikely, I know, but you'd think if it was too good to pass, and they still wanted to give $100m back, then a new issue of capital could be a possibility)
Was on the cards (with a bit of hindsight) when you read this 14-Dec-2016 article:
http://www.nzherald.co.nz/business/n...ectid=11766773
Wouldn't surprise me if Tamarind's Tui purchases off AWE and NZO were somehow conditional on each other.
77 million is huge for sure. if not for TUI what else would they need provision for . What about cUE when it eventually winds up. PIKE and Kupe are gone. Do we have any other possible lilabilites needing covering?
So again not enought has been said about where we stand with this TUI sale.
[QUOTE=trader_jackson;655131][COLOR=#333333][I]What worries me is that they make no mention of returning all cash to share holders asap, rather returning some (maybe)
Hi Jackson,
could not have summarized it better, also think the MAYBE still appropriate. [ time will tell ]
What is unbelievable that it should take 5 months to sort out the return of 100 mil. in their possession since beginning of 2017 to S/Hs.
Yes i know when this Genesis deal first came up there was some uncertainty regarding tax.
So same old scenario, management more than happy to la di da along, while the easy earned money keeps rolling in
I think I have figured out their next moves... a four (actually five or six) step plan:
- Divorce Cristina.
- Get their blood pressure sorted.
- Get into apparel... a label with vanity.
- Purchase 2 x sailing ships and run them ashore with spirit.
... add in a trip from Sierra Morena to Huelva possibly?
[QUOTE=fabs;655190] I voted against the sale of KUPE. To me it was obvious that it would take a long time to return this 100 million to shareholders. For those wanting the deal to go through it was better to focus shareholder attention on the 100 million than on the the almost nil likelyhood that IRD would let it go without tax. So now we will wait. Maybe NZO will later say that by event outside their control [IRD}the return would unfortunatly take a little longer than end of may 2017. But we should have all known this before the vote with the outcome being 88% against instead of 88% in favor.
Anyone betting on full takeover of Cue?