not point in NZO listing at all .OG should just buy out the last 30% of NZO S/H's and go private ...then come for CUE ... personal think thats the plan.. in time CUE certainly doesn't want to promote operations or future upside in operations ...
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I really don,t know what to make of all this.Sounds like OG are plotting to get NZO and Cue as cheap as possible by overloading us with a unneeded cash issue. Like they could have easily borrowed this money if it is needed at all.
So in the future they could again come up with a need to expand forever and a day requiring more money,each time getting the unapplied non takeup. A back way of getting past 90% eventually.
I also wonder if OG is sulking a bit over our rejection of the the takover failure a few years ago when we all just wanted to take part in Ironbark. Is this a way of getting back.
I am still thinking about what is the best action to take.
I'm out. Seems like they are just having a laugh. At holders expense (literally.....). I don't care how good the prospects are, or how good the current situation is (both great I think). This is just treating holders as playthings.
Agree. NZO are already sitting on a pile of cash. I think OGOG are simply exacting their revenge on holders who wouldn't sell out prior to the Ironbark drill. I think remaining shareholders will be used and abused by OGOG until they exit the NZX altogether.
I do not believe it’s revenge .
More likely a shrewd business move by ogog that will advantage them-they will increase their holding in the company at 42 cents a share .
Minority shareholders that cannot afford to convert their options lose..
I have a margin lending account so can and will borrow for this-might even ask for more shares than allocated .
We do need independent directors that represent minority holders.
That would be great. I think NZX should change the law so that does happen,in a case like this where OGOG can block any attempt to have an indepentent director. Like Putin they simply claim the current directors represent us. They do not. So any ideas how we could go about getting a true director to have a say for minor holders
On another point if we move to AUS future dividends if they ever occure can not get the tax back. At least I can not on Horizon [HZN} that they had 6 months ago. A problem with moving to Aus.
You will never have any truly independent directors. Only handpicked 'friendlies' for OGOG.
Short of a law change (which is never going to happen, and would probably have unintended consequences anyway) you guys are stuck with Putin I am afraid.
Even buying CUE shares right now is questionable, given the looming presence of OGOG.
I know one big minority shareholder recently sent a proposition on this to NZo .I have never seen any attempt from the so called independent directors to engage with minority shareholders let alone represent them.
Looking at todays quarterly report with 39 million cash and good cash flow personally it is difficult to see why 25 million more is being sought from shareholders.
I have no expertise on tax credits but would not imagine moving the listing to full asx should make any difference .
We only have a small holding but will take part in the capital raise. Yes the company's track record isn't great and a lot of money has been wasted over the years, but the current mix of assets looks promising and given the price and demand for oil and gas lately the future is looking better