It wasn't fully subscribed so I think they will take whatever money they get from where ever. Jardens tidy up the rest.
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So Jarden is sitting on a nice big potential profit when they realized the underwritten shortfall shares - $6.3m or 42m shares at 15c.
At today's price of 20c, that's a cool $2.1m.
Wealth transfer from NZK shareholders to Jardens.
To be fair though, there's still a lot of water to flow through the sea cages before Jardens can realize their profit from selling down 42m shares!
Well, with the 100% extra entitlement my average came waaaaaaaay down.
Now to hold on for Blue Endeavour ann.
I am not a holder, but I note that the guy who owns Akaroa Salmon is being interviewed on the Country Life program, National Radio Friday evening and Saturday morning 7 to 8 am.
New Zealand King Salmon reduces workforce by 139
https://i.stuff.co.nz/business/farmi...rkforce-by-139
NZK made a notable effort over the past decade to avoid redundancies via natural attrition & moving people within the company. $20m invested into farm re-location to support commercial growth and consequently jobs but not supported by govt. Unfortunate outcome for all.
NZK got no choice if they dont cut costs big time to reflect smaller operation the company wont last long.