Originally Posted by
Roger
Reading through the above I'm really enjoying this great shareholder camaraderie... lets all pat ourselves on the back a lot BUT, (and I absolutely HATE pointing out the fly in the ointment but feel compelled too nonetheless), before we all get too smug when does the overhang of the shares issued for the HER acquisition come off escrow ? Isn't it April 1 ? and wasn't it about 10% of the companies shares ? and I know for a fact that they're on record as saying they want to sell so that's quite a big overhang for the market to absorb shortly especially in tandem with accident compensation corporation who seem to be selling flat-stick.
On the other hand maybe ACC are selling down so they're well positioned with cash to participate in a near term placement and maybe if there is a placement of these overhang shares that's an opportunity for one of the other "banks" to get a sizeable foothold...not that I want a takeover. Agree with Iceman that on an objective basis taking into account risks and rewards, HNZ even at the current price ex divvy are very good value relative to an otherwise fully priced market.
Disc, I wouldn't mind raising my stake a bit but would like to see the over-hang done and dusted first.
To balance this somewhat objective post out with some natural shareholder bias, which I also feel compelled to do, did I mention that we are very well positioned :D
P.S. Go the Blackcaps !!