Doomsday merchants having a bad day.
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Doomsday merchants having a bad day.
Govt will need every vote in September
$600m aviation support package announced. Edit this is for airports?!? Still talking to Air NZ.
Yup, the last companies I would help out would be the airports!
Dividend - is up in the air.
Undecided - legal options will decide it, morally should not be paid but that is not relevant.
This is from Greg Foran just now.
I agree balance. You either have rule of law or you don't. The dividend should be paid. Deeply discounted rights issue and government support package will keep the company airborne.
Directors could be personally liable either way and I guess they deserve to be. Should have suspended it.
Yeap, I think you would have a strong case if you bought the shares within a very tight timeframe before it went ex divvy, the tighter the timeframe the stronger you case BUT litigation is heinously expensive so unless you bought a massive amount of shares... the only real winner will be your lawyer.
I have never heard of a dividend being declared, it trading ex dividend and then being cancelled by the directors. I guess there's a first time for everything ? I guess they could get out of it on solvency concerns ?
Its probably academic anyway as I suspect a Govt underwritten, large and deeply discounted rights issue is imminent so they'll want the money back one way or the other.
My pick, is it stays in a trading halt and comes out only when the 1:1 Govt underwritten rights issue is announced at $1 share. That would raise about $1,100m and might see them through this thing, perhaps in tandem with a Govt loan further down the track if necessary.