[QUOTE=Bikeguy;1055318]Have a look at SKT CR.
Printable View
[QUOTE=Bikeguy;1055318]Have a look at SKT CR.
From memory, SKT’s sp had been as high as $8+ before the change in its fortune. By the time the CR was initiated, sp was fine to 18c and rights issue was done at 12c. Suited some parties very very well to have it done at that price!!!
I don’t see a takeover by Bright - don’t forget A2M has a blocking stake and plenty of $$$$!
Things must be bad for synlait, on the price chart on the improved nzx site the price axis extends down to -$1 and -$2.
https://www.nzherald.co.nz/business/...K2F454VIHVHAE/
Bright Dairy replaces Former Finance Minister Ruth Richardson with Leon Fung on Synlait board
Will sailing "Ruth-Less" help things ? ;)
The 2nd last line of the NZX announcement - "Bright has a 39.0% shareholding in Synlait and four Board seats"
Board clearly under the control of Bright - 7 directors and 4 are from Bright. Never really understood why no A2 appointed directors? Are they driving the exclusive supply disagreement between Synlait and A2?
I would agree that Bright have a plan here, very patient. Presumably they have a plan B if shareholder vote goes against the Bright loan.
This will become a case study in the future once all of this has worked through.........likely on so many facets of business - governance, management, BCorp, acquisitions, plant expansions, more governance, lack of governance.....
Clearly Synlait are rubbish at alot of things, but not their website - Ruth already gone and replaced by Leon!! https://www.synlait.com/people/