Remember that first offer is usually never the highest or last offer.
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Remember that first offer is usually never the highest or last offer.
Hmm - director selling - not sure what signals he wants to send us with that action given that there is a pending takeover offer he signed his life away to support:
http://nzx-prod-s7fsd7f98s.s3-websit...055/273070.pdf
I guess I can see all the winks and nudges - just not sure how to interpret them? Maybe this is the best he can do to support the takeover - signal other investors they better take the offer?
But then, maybe he just needed a new boat or deck and couldn't wait ...
Who could say these days :p? However - why do you think this would explain the selloff?
PS: Obviously ... my deepest apologies to Mandy ... I am sorry for missing the s before the he.
And so far I thought that only male directors can make funny & inexplicable things - must have been a Freudian slip ...
Some of Mandy’s recent ‘purchases’ appear to have been shares in payment of Director fees
Just collecting her pay maybe.
BP - down any more study on how Scheme of Arrangements work ....esp relative to the other option of a ‘hostile’ takeover
http://www.nzherald.co.nz/business/n...ectid=11975852
Interview with CEO of Trilogy. Sounds like the takeover is a done deal, just waiting OIA approval.
Disc. not holding anymore.
You mean the shareholders do not matter in this context? Is it only her and CITIC? Otherwise - how can it be a done deal when nobody asked so far the shareholders?
Frightening as well to learn that she spent the better part of a year to prepare a deal which costs every contributor to the latest capital rise 80 cents per share. From memory - they paid 18 months ago $3.70 and CITIC offers 18 months later $2.90. Did she know already at the CR that the shares are not worth what she asked for? Or is she now promoting a deal which sells the company too cheap? Are we missing something?
BP
Sounds to me as if (with her being involved in 3+ buyouts) she was bought to Til with a sale in mind. My question is with such a great future (her words) why is this being sold seemingly cheaply or is it a directive from the bakery boys to free up their cash or force a higher offer? Would you sell such great prospects for a theoretical loss after putting in more expensive capital?
Regards
-dodgy
Majority shareholder has been a keen seller for a while ...Angela only doing her job.....and doing it well might I say
Minorities never have much of a say (in any company) ......except at the last stage when they get to say yes or express their disgust.
Divestment and finding a buyer has been on the ‘agenda’ for a while. No doubt it was realised that achieving the ‘huge potential’ expected of them was going to be very difficult.
That $2.10 was good buying
Hi W69
Not saying she is not doing a great job doing what she was employed for, only surprised that so much time has been spent to effect a sale when it appeared from the press that a well thought out expansion with alliances and aquisitions was being progressed and if not why was the capital raising done? W69 - answers?
Regards
-dodgy
Jeez that cap raise was more than 18 months ago and a lot of water has gone under the bridge since
Don’t forget that $30m of that cap raise went to the Business Bakery and only $20m went to Trilogy. That was used to pay down debt of which a lot was due to the recent acquisitions / alliances. Business Bakery selling down not send a message in spite of the rhetoric?
Since then there has been that infamous downgrade at the 2016 AGM and a few washy washy forecasts. Even you would have to agree that performance over the last year or so has been disappointing and failed to live up to the expectations of early 2016. Doesn’t that tell you they are struggling to grow to plan (they even said the other day it will be a long hard road or something like that)
Of course the rhetoric is always going to be good ...punters love phrases like ‘China expansion’ and ‘1,000 new doors’ eh. Adds to the hype. But delivering the goods hasn’t been achieved has it .....and unlikely to happen soon.
I hope the $2.90 will end up being $3 something. (If it doesn’t go through share price down to $2 again to reflect reality)
That $2.10 was good buying
Best part of that Herald story is ‘Next week CITIC Capital will be in Auckland to discuss the next steps, be introduced to the team and issue a trading update’
A trading update eh
The likes of BP will probably say the update might be framed such to make the deal look attractive
Then again they (Trilogy) could come out really bullish to get the offer up a bit
Wonder what they have hinted to Grant Samuel to come up with ....jeez aren’t I cynical but then I could be a realist.