Yes, discount clients pay discounted brokerage and receive discount service.Quote:
Am I missing something here? Are "clients of discount brokerage firms" somehow second class investors?
;)
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Yes, discount clients pay discounted brokerage and receive discount service.Quote:
Am I missing something here? Are "clients of discount brokerage firms" somehow second class investors?
;)
I reckon I've saved about $20,000 in 6 months. That must have been some premier service I'm missing out on, to be worth that much.
Meanwhile, my TD Ameritrade fees for trading the US markets have dropped to almost zero. No premier, hand-holding service there either, I guess.
I am a longstanding Direct Broking client and I didn't get notified of the SPP for ZEL. Where did you see it? I am wondering if I have fallen off a mailing list. I would have preferred a firm allocation to fighting over it in the retail offer and having money tied up for a couple of weeks.
I personally dont understand the logic behind NOT applying for the wage subsidy. They were clearly negatively impacted, well above the 30% required.
I can't see much public backlash for applying for the subsidy, especially when they are having to do a cap raise.
Meanwhile, they're asking for help in other ways...
Z Energy puts biofuel plant to sleep, asks for Govt money
https://www.stuff.co.nz/environment/...for-govt-money
I received 5 emails from Direct Broking at 0905 on Monday morning, relaying the various notices on the Halt, Placement, SPP, etc. There was also a warning banner on the Direct Broking website when you logged on, saying something like, 'If interested in the ZEL placement, call our brokers on 0800 xxx xxx". My one complaint is the midday deadline (an unseemly rush?), which I missed mention of anywhere. But then I didn't chase it as I'd already decided on waiting for the SPP and a possible lower price.
So yes, I would check your contact settings and/or give them a call and ask whatsup?
May not have been a 'firm' allocation anyway. The Placement notes talked of "...existing shareholders(including those participating through a broker) will be given priority to obtaining a prorata allocation in the Placement".
Thanks for that. I definitely need to check my settings.
I was logged in but maybe I ignored the banner. So many websites have Covid-19 alerts at the top of the screen that i barely notice these days. Coulda shoulda woulda. And the truth is I am still assessing the long term value. If the budget announcement is everything going electric it's not going to look too flash :)
EDIT - I checked and can't even see where to sign up for the newsletter! Must be an IQ test
I wouldn't normally touch a stock in this sector (EVs, Renewables etc) but Jardens have put a $5.00 price target on it (vs $3.00 current market). Their targets seem to often get met quite quickly, so I bought a few. I guess there are some instos taking a quick 10-15c (gross) profit though..
I'm still comtemplating whether to get more under the SPP, at $2.90, it doesn't seem a great incentive given the price is about $3 now as I could buy more once I know the share price is on the rise. This is one of my red arrow stocks, if I knew it would go to $5 in the next little while then yes, it will be a no brainer. Having said that I think we are at the bottom and the only way is up from here.
I live right next door to a Z station and since we went to level 3, the place has been flat out which is a good sign. I think their weekly ops figures are a good indication of whats happening with increases in consumption each week.
DISC: HOLD
Offer document email came through this evening.
Chris Lee says retail investors got doughnutted in the first round
Obviously has no time for Goldman Sachs
https://www.chrislee.co.nz/taking-stock
This article is interesting. Although it’s about the refinery there is a good discussion of the challenges the industry faces. Reading it I am finding it hard to see the value in purchasing more in the SPP.
https://www.newsroom.co.nz/2020/05/1...finery-survive
Share price at $2.93, only 3c above the SPP:t_down:
So how does "a 2.5% discount to the volume weighted average price (“VWAP”) of Z shares traded on NZX during the five NZX trading days up to, and including, the Closing Date (expected to be 29 May 2020)." work? So if the VWAP is $2.85 ... then shares will be allocated at $2.78ish?
SP proving to be a real dog so far but there will be two ............"Weekly Market Updates" before close.
Average price in Australia for 91 $A1.11. https://thebull.com.au/petrol-prices...ay+19+May+2020
We are being fleeced like sheep and milked like dairy cows. Its highway robbery, lots of stations around here charging $1.90+, saw one the other day at $2.009, no surprise it was a Z station, they're the most common offender when it comes to overcharging.
Can prebuy fuel on this Z energy app at lowest price in your area and save some bucks for those interested.
https://sharetank.co.nz/
https://z.co.nz/about-z/news/general...n-their-terms/
Allow me to explain better, this app helps search for best priced fuel around your locality and allow you to pre-buy fuel at that price anytime and use it later at any Z station.
It allows you to prebuy up to 1,000 litre at any point of time.
No time limits on when you need to use up the pre-bought fuel (will not expire) but as sharetank is a trial product, it will notify at least 3 months in advance if this trial product was to be ended.
p.s. $1.60 is where I last locked in the fuel litres and still using it today. I have edited above to avoid confusion.
I see this opinion on the News by people constantly and I don't get it.
Fuel tax is used to fund roading projects. Those that use the roads more pay proportionally more for the roads than those that don't.
The alternative is to get rid of a fuel tax altogether and increasing income taxes so everyone loses, even those without cars.
At the end of the day unless you drive excessively (or not at all) the fuel tax is fairly irrelevant because the govt will get this tax out of you one way or another.
The fuel tax is mostly used for projects through the National Land Transport Fund (~90%). GST is added on top (including GST on the fuel tax itself), and some ACC/local govt slices.
However the National Land Transport Fund can and does invest in non-roading projects such as Public transport,transitional rail& rapid transit, Walking & cyclingimprovements, and what they call Miscellaneous (from their own 2019 report). So those that use roads more, pay into non-roading projects more also. There are more alternatives to fuel taxes than simply income taxes (RUC's being a local example).
The issue is not so much in that road taxes are collected this way, but it means you cannot directly compare say Australian and NZ fuel prices as they fund infrastructure differently. NZ uses fuel taxes heavily. Therefore it is relevant to include discussions of NZ govt fuel taxes in discussions of prices, however you to like to lean on the issue.
According to the AA - "Currently, just under a third of the pump price is the actual cost of refined petrol while about 50% is tax i.e. 63.784 cents per litre in fixed excise" (not including GST, regional excise, emissions trading schemes levy). As the overall price of fuel decreases, this fixed regulatory component of the fuel cost increases in proportion.
Commercial fuel sales such as jet and marine have actually gone down this week ending 17th May cf compared to previous so I'm thinking that there may have been a bit of catch up in the earlier figures , so this weeks numbers give more indication of future demand.
Other than Trucks (which haven't gone down much at all) the other main categories , petrol and diesel retail are sitting about 2/3rds of average prior to Covid19 now.
Fuel taxes are a regressive tax insofar as it forms a much greater proportion of the income of the poorer. And yet if you transfer the burden to income taxes, those who are income poor but asset and capital gains rich, get a free ride, literally!
We all end up paying for fuel taxes, even those without cars, to a degree as it affects all manner of costs.
That's exactly it. And often those in that category are the ones driving thirsty old Aussie tanks and the like as that's all they can afford. Meanwhile the likes of my well-heeled neighbour drives his nice PHEV Audi into town and back without it even starting the ICE...how many roading projects is he funding?
Ouch!! ..... this pup becoming painful and SP feels like I am paying staffs weekly wages.
This post from 27 January 2020 is still how I see this one. Back then I questioned the sustainability of their dividend and sure enough it got cancelled.
This really is a horrible industry and best avoided. I see they have no guidance for FY21...I am not surprised as they probably have no idea what they'll make, if anything. No dividend until at earliest October 2021. I cannot see the investment case and am quite frankly very surprised they managed to tap the market so successfully for such a large capital raise. If ZEL can recapitalise their leaking old boat that's operating in a sunset industry, there's hope for almost everyone else !
Agreed, although I think the sunset is still at least a couple of decades or so away...I'm not convinced a fully electrified fleet is viable, but then maybe given time, technology will have the answers. Ordinarily they'd probably do quite nicely with the low oil price/volatility, but not with the supply/demand ratio so out of whack atm. Plus the refinery is likely a big handbrake too in the present circumstances. It's especially hard for this industry with the COL. Although it's interesting that the ACC continues to increase their stake.
Yeap, its a long sunset, but a sunset industry nonetheless and all the time ICE vehicles will need to meet much tougher mandated Euro emissions requirements which will see a proliferation of hybrid propulsion systems in the years ahead. Heck even Mercedes-Benz AMG (add more grunt) division are going hybrid. (That's sad). I doubt jetfuel demand will return to its former level for many years either. The trend now is towards contactless service so unmanned stations with contactless payment might have an advantage going forward, just bring your own gloves for handling the fuel bowser ! I see the market share of the minnows continuing to expand and ZEL market share continuing to be eroded going forward.