More twists and Turns on this speculation than Tacks between Dean Bark and Team NZ yesterday... dizzying from a Take over to Covid contamination ... no lack of imagination displayed by the participants...
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More twists and Turns on this speculation than Tacks between Dean Bark and Team NZ yesterday... dizzying from a Take over to Covid contamination ... no lack of imagination displayed by the participants...
Thats the reason its taking them so much time to bring out the announcement . Need cover their tracks well
Way Halt letter was worded was also lawyers written all over it .
Keep in mind they are highly paid , trained professionals . They know fully well how to do their jobs ...atleast how to safe guard themselves !!
If many of them could sell shares around $ 21 levels and just before downgrade announcement and get away with it ....
Also at ASM ...just 30 days before its business as usual ...Guidance stands ...after 30 days .. multi day Halt for revising Guidance
I am just dying to know and understand what was the urgency for the Halt ...sent to exchange at 10.05 AM ...NZX maybe informed over phone to Halt as it did not trade for 5 minutes before they got the communication at 10.05 AM
Very very mysterious ...Better then any Thriller movie ...exciting just to know why so ?
What new information they just discovered or got aware of that it required hurried multi day Halt for first time in 5.5 years !!!
did you know that in the case of ballamy's the chairman and ceo were selling shares before there plunge
But, while the company seemed to be scaling heights, its chairman Robert Woolley and Ms McBain were quietly selling off hundreds of thousands of shares, fuelling scepticism in some corners.
https://www.nzherald.co.nz/business/...22GBIG3BYDNYE/
Not sure if related to ATM issues but we import quite a bit from China and we have been told over the last few weeks to expect quite significant delays in shipments which are not only due to issues at NZ ports but also along the main shipping routes and ports in China. Honestly I don't know how much IF is being shipped but if there are really delays for ATM as well then it would certainly impact their profit. This in my book would be a best-case-scenario on why we are in Trading Halt at the moment.
Shipping/exporting to China at the moment is completely ******. Getting bookings, getting empties, ships going on time, delays at trans-shipment ports, congestion in Chinese ports, importation, Covid testing of product etc etc. At least they don't need reefers, because these are another issue with plugs.
However this is all a known, albeit getting worse over recent months - ie no need for a trading halt. Still leaves airfreight, which is reasonable pricing to China and something they've done before.
Have been told traffic into China is not a problem . Traffic out is problem . So ATM shipping from Lyt port not effected . Latest port data showed IF shipments up so inventory also not a issue it seems .
SML also didn't flag any inventory problems recently
Something very legal and something very impacting financial numbers is the issue which requires very delicate and legally correct handling thus more time required . Halt was part of getting time to get that info out in correct manner
From HC "Port data out, infant formula up 40%(+$65 mill). China big, my thoughts are daigou demand just hasn't picked up re Aus data"
I'm just amazed there has been about 10 pages on nothing but speculation/trying to read things into the announcement that may or may not be there
Discl: small holder