ZEL is being gifted to AMPOL at the lowball value they threw on the table IMO ;)
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ZEL is being gifted to AMPOL at the lowball value they threw on the table IMO ;)
A female from Computershare Australia rang me today regarding if I decide to vote in favor of the takeover by Ampol. I asked her to show me the colour of her money and I hung up.
Anybody wish to speculate why Computershare phoning holders and not Link
New offer or shortfall of numbers ?
Z will currently be making enormous profits selling fuel at current spot egregiously inflated prices based on raw material costs from months ago.
Update on sale of Gull business
https://www.nzx.com/announcements/388807
yep big hurdle cleared with the sale of gull
im not counting my loot till they pass the final hurdles but as for my recycling it is very difficult to find anything i like on the NZX at this point in time. why ? because the economy heading down and inflation is heading up and probably staying at elevated levels compared to the past... this might imply stag flation we will know in time ( the govt is starting to panic ie immigration settings relaxed , talk about opening up to tourists quicker etc trying to get some growth in there ) the play was energy and commodities but they have run hard so dont like chasing these things when they have already run hard. so it is a very hard question maybe ill hold some cash for opp's later on and see how everything pans out. made plenty of gains last few yrs so if this yr is lack lustre its not the end of the world.
Commerce Commission has granted approval to Ampol provided Gull divestment occurs:
https://comcom.govt.nz/news-and-medi...stment-of-gull
Do we get any divies before we hand the keys over?
Only if the process gets dragged out. And if they do pay a dividend the value of that is deducted from the settlement price. So in effect, no.
your get another 5c if the deal isnt settled by end march
The Z Energy board has unanimously recommended Ampol's offer of $3.83 a share, which has been boosted by Ampol agreeing to the payment of 5 cents a share of the next dividend.
The deal values Z Energy at about $2 billion.
"The Z Board unanimously recommends that shareholders vote in favour of the scheme, subject to the scheme consideration being within or above the valuation
range specified by the independent advisor and in the absence of a superior proposal being made for Z," the company said in a statement.
The payout would increase by another 5 cents a share if the deal is not settled by the end of March next year.
From the recent scheme of arrangement booklet.
Adjusting Permitted Dividends: On 8 December 2021, Z Energy paid an interim dividend of NZ$0.07 per Z Energy
Share.
If Z Energy pays any further dividends in respect of the financial year to 31 March 2022, the amount of such
dividend(s) will reduce the Scheme Consideration payable by Ampol.
Will this scheme result in all the consideration from the takeover being treated as a taxable dividend? As happened with (for example) NZ shareholders with respect to the take-over proceeds from the NZX listed Diligent Corporation (DIL) scheme about 5 years ago. The documentation does not disclose the taxation consequences for shareholders.
Any ideas as to, provided the vote is sell, when the $ would hit our hot little hands? Thank you
So, what's the consensus, yay or nay.
Anybody else receive two emailed Link voting forms one had correct details other fake which wanted Hin & Fin for login
Check............
No, I didn't. When did you receive those?
All but a done deal:
https://www.nzx.com/announcements/389525
I lost on this about 13k, I bought to high at an avg of 5.30 about 2-3 years ago, with the value estimate being $8, due to the high dividend.
Got screwed with the commerce commission report about competition.
Got screwed with the share split due to covid, and then got screwed with the sale to the big boy club.
Live and learn.
Matches my name sake really, Bugger.
Bought at 3.52 ( will break even) to offset my loss as too many times these buyouts left a bad taste in my mouth when I wasn't proactive when it became pretty certain the deal was going to happen!
Hard work though!
Yes, i wish I had done that - will end up taking a bath on ZEL
Yes, me too. Sadly I bought at $6 and kept thinking they would improve - I should know better.
"Abby Foote Chair of Z Energy said, “The Boardwas unanimously in favour of this proposal, and it is pleasing to see such a high level ofshareholder support for the Scheme in terms of those voting in favour of the Schemeand the number of shareholders voting."
Yes Abby, it's called getting out when opportunity is presented to do so. Why what is effectively a vote against the current board and management should be pleasing is a mystery to me...
I don't like Mike Bennett's chances of getting another senior role with an NZX listed company lol
Takeovers panel no objections, expecting OIO mid April seems done and busted end April...........2k loss :mad ;:
Expected pay out on the 10th May.
All over and ZEL will be delisted and removed from the NZX and come out of the NZX50.
Let the games and guesses commence on who will replace them in the NZX50 ?
http://nzx-prod-s7fsd7f98s.s3-websit...027/369282.pdf
Yes bye bye to Z, now wait for all the flash adds on tv on how good ZEL is and what NZers want to go to when fulling up. He He makes me laugh.:D They should of put the adds on before Ampol bought.
Lost a bit on this one... but on the bright side, we're no longer party to Russian propaganda by supporting Z energy...
Has the Fat Lady sung yet & kicked over the Ampol casket of coin for all those patient holders
hanging out for a bit more ? ;)
Z still running their TV advertisements that Z is for New Zealanders. Hmmm...I'm thinking that's really stretching the truth now. Okay there might be a few Kiwi's who are Ampol shareholders so its not an outright lie but, my goodness, its pretty close !
Interestingly they're also advertising that they're installing fast EV chargers at Z stations, something I've been suggesting for years. Oh well...Australians are now fleecing me at my local Z store...must be time to buy an EV and charge it at home :)
CEO keeping his job and saying it adds resilience to their supply... generally talking it (Ampol ownership) up....
Owning Ampol could be where some of the funds could go , they are going to list on the NZX
Maybe we should have a debate on that before it's too late.
We could negotiate a special deal for the first 10 years.
Benefits for Aussie Kiwis and a lower tax rate.
Pretty sure, It makes no sense to give imputation credits to holders who can't use them.
Look at the recently declared ANZ dividend
NZD Holders AU 72.0c + 9.0 c Imputation credits
AUST Holders AU 72.0c + 30.0% Australian Franking credit
No way is the NZ Imputation credit spread across whole Company Issued Capital
ASX ANZ Distribution Announcement:
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
Compare this with their NZX Dividend Announcement filing for the same distribution
The company may but doesn't have to attach Imputation credits for Holders in NZ
presuming that they have paid NZ or do in future to be in position for this.
Any indication on whether any Gull generated Imputation credits are available or tax paid ?
AMPOL NZ (or their newly acquired Z) will have to pay NZ Tax to start accumulating further
NZ Imputation credits as residual credits left in former listed Z Energy are likely to be lost/forfeited on an
Ownership change of 100% with privatisation into the AMPOL NZ camp
It makes no sense to give NZ residents the Australian Franking credit either. But they do.
I think with respect to dividends, no matter where they are resident, shareholders are treated alike whether or not they can use either credit.
On the ANZ international site there is nothing to indicate that NZ imputation credits are not attached to all dividends.
https://www.anz.com/shareholder/cent...d-information/
Of course it does - because without franking credits Aust Witholding Tax would be deducted & paid to
the Aust Govt (as occurs here with unimputed portions of most NZ dividends paid to non residents)
Does ANZ pay sufficient NZ Tax to cover 9c x 2 pa per share lots of imputation credits across it's entire
share capital ? .. I should imagine not :)
ANZ is an Australian Company, with head office & Australian domicile for tax purposes here
I think NZ resident shareholders would get a credit for The Australian withholding tax as an overseas tax paid anyway. Franking credits attached would be worth more if they were recognised in NZ.
The NZ division is comparatively very profitable. I think ANZ is the largest bank in NZ. it pays a good chunk of tax to the IRD.Quote:
Does ANZ pay sufficient NZ Tax to cover 9c x 2 pa per share lots of imputation credits across it's entire
share capital ? .. I should imagine not :)
Cash profits:
Australian division $A3.6b
NZ division $1.5b
Institutional division $1.9b
I guess NZ resident shareholders should be pleased even to get a diluted share of the imputation credits. Likewise for any NZ resident shareholders of Ampol.Quote:
ANZ is an Australian Company, with head office & Australian domicile for tax purposes here
Pages 137 & 138 of the ANZ 2021 Annual Report (under Dividends Note)
should clear up queries on Franking & Imputation in so far as ANZ
were utilising theirs - at ANZ NZX filng link under
http://nzx-prod-s7fsd7f98s.s3-websit...151/358424.pdf
That is the conclusion from reading the Report. Are you assuming that only shareholders who are NZ residents get imputation credits attached to their dividends?
The report actually states:
"2021 final dividend (fully franked for Australian tax, New Zealand imputation credit NZD 8 cents per share)"
There is no mention of shareholders being treated differently according to residence. The assumption is that all shareholders are treated equally.
The report states Later under the franking Account Information
"New Zealand imputation credits available (which can be attached to our Australian dividends but may only be used by New Zealand resident shareholders)"
Unfortunately my conclusion is that NZ residents who buy shares in ANZ (an Australian company), whether the NZX listed ANZ shares or the ASX listed ANZ shares, cannot choose to limit their investment to only the NZ division of ANZ. Consequently the distribution of the imputation credit for NZ tax paid has to be shared with all the other shareholders, even though the shareholders who are not resident in NZ cannot make use of their imputation credits.
If you think my conclusion is incorrect please refer to regulations or ANZ statements that indicate that.
Perhaps this would be better to be carried on on the ANZ thread?
You hit the nail on the head there !
Recognition in NZ of credit for Aussie franking credits was something NZSA at one time took up with Govt
but this appears to have gone nowhere - from what I have managed to dig up searching
This also applies to other ASX Companies & their in-specie distributions too - BHP on a number of
ocassions & coming up with WPL shares dished out - probably in the wrong thread again - but more widely
relevant to any former NZX: ZEL holders looking at jumping into ASX: Ampol as new parent
of the ZEL operations..
Perhaps someone from NZSA can update us on NZ Govt & recognition for OZ Franking credits etc ?
Sorry to be off topic again .. briefly the 2021 report hinted at NZ Credits may be attached - not will or required to be, however from OZ Tax paid it would be sufficient for Oz Holders to be fully franked - so Imp Crs for NZ ; Franking to OZ each out of respective tax credits on whichever side of the ditch. but I may be wrong :)
Withholding tax whipped out of the final 2021 Distrib to NZ holders will prove whether NZ Franked / Imputed whatever I guess :)
What was the final Dividend component of the settle up for ZEL shares made by Ampol ?