Poet ...last Annual Report - There are no unrecognised tax losses for the Group at 30 June 2019 (2018: nil)
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Beagle commented — “The question of undue influence must surely also be asked. The N.Z. super fund has a director on the board and it was clear they wanted out rather than litigating this thing. Did that director having such a clear objective influence the other directors apart from Kim Ellis”
What about Alistair Ryan (voted yes) and his Chairmanship of Kingfish Funds etc.
Don’t always hear what the Board vote is in these cases. Kim probably said let’s tell everyone I voted NO si I don’t have the hassle of justifying giving away the company like he had to endure with giving away Waste Management.
That shareholders meeting on Friday that never took place had a resolution that didn’t really mean very much at all ...only appeared to be an exercise in making shareholders thinking they were involved.
If the resolution was passed or not the Board still had the option of walking away from pursuing that enforcement legal action.
Seems both sides are pleased where things stand at the moment .....also seems many (possibly including EQT) will be happy if more than 25% vote NO
https://www.interest.co.nz/property/...y+11+July+2020
EQT must be drooling at the thought that after rolling the leading sheep over so easily all others might queue up in an orderly manner like lambs to the slaughter. They must think Kiwi investors and directors are a bunch of pathetic wimps.
More anecdotal evidence that real estate is doing just fine.
Interesting thread, nice to be a fly on the wall... would answer a few questions concerning timing of exit.
I agree 100%. There are over one million ex pat Kiwi's overseas.
I think in a Covid 19 ravaged world Snoopy has completely overlooked considering how many tens of thousands, perhaps hundreds of thousands, will want to come back.
If we can only manage 5,000 per 14 day quarantine cycle, it'll take 280 days per 100,000 who return which suggests the exact opposite of what Snoopy has suggested and we could be on for a protracted period where demand vastly exceeds supply and we all know what happens to prices when that situation arises. Perhaps this has already started ?, see linked article in post #3012 above.
I think you’re right @beagle there is and will be a relentless return to ‘safe NZ’ driving pressure on housing, confounding the naysayers who expect a ‘normal’ recession. The caps on returnees will be lifted in time. It is different this time, the fundamental drivers are founded in an event that has no precedent for many decades. And the population aging is accelerating, not slowing down. Bodes very well for all retirement sector, meeting demand with supply, releasing housing stock into the market for the younger ones.
UK house prices are dropping - maybe owing to Brexit and Covid as kiwis and other people move away back to their home countries.
https://www.bloomberg.com/news/artic...all-since-2009