You may notice that the receivers and then the liquidators were called in March 2014, 18 months ago.
So it is highly likely that it featured in the FY2014 accounts and in an adjusted form in the FY2015 accounts.
Best Wishes
Paper Tiger
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This makes no sense to me, according to todays, above announcement, Chris Mace had no beneficial ordinary shares in HNZ before purchasing the 713k shares.
However on the 30 June 2014 according to the annual report of HNZ he had over 12mil shares in this class. I could not find any NZX announcements of Chris Mace having traded in the period between 30 June 2014 and today so unless I missed something we should expect a correction soon.
Thanks PT, comprehension was never a strength of mine.
Were I stopped reading and obviously still missing something is at the beginning of the announcement.
Summary of acquisition or disposal of relevant interest (excluding specified derivatives). It then talks about ordinary shares. And numbers held in class before acquisition or disposal being zero.
Would you like to explain this further, cheers forest
Thanks Harvey, now I understand. :)
While Chris Mace has bought 713k shares, institutional holders continue to offload. Nearly 10m last month.
It has been an interesting past month for transactions. Institutional off-loading compared with three insider purchases.
Maybe there has been an outflow from managed funds - retail investors being spooked or whatever and withdrawing their investments. Maybe some Kiwisavers have been transferring their funds from growth units to balanced or conservative units. There has been/ still is a risk-off environment. Management/directors are in tune (hopefully) with the actual business environment for the company.