A win-win would be TVNZ buying our shares off us and then getting Fair Go to do an 8-part documentary series on this incompetent board.
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I almost sold today but I am not a fan of selling on a pull back. I still somewhat believe in this company. Don't believe much in the board at this moment but these things can change and we have to remember Sophie has only recently taken over after Martins mess
Hopefully we get more news between now and the AGM. Surely the property sale will go through in this booing market we are having. It is a massive sight, close to CBD and sure not residential but that can be fixed and with a home shortage I am sure it will get through pretty quickly.
The beleagured shareholders continue to find the cupboards bare with no dividend payout yet Sophie talks and talks
This is an excellent point and explains why the board is likely hesitate on paying out any cash until the property transaction is complete. If the loan facility is slashed then all of a sudden $35M (+ whatever FCF has been generated since) isn't an awful lot especially when launching two new products.
They've probably still got PTSD from the desperate COVID capital raise as well so prefer to err on the side of caution when it comes to capital management.
Fair enough I guess, I'm sure once the property sale goes through along with the $7M from NEP hitting the bank account the board will finally have the courage to return a chunk to shareholders! Hopefully in the form of a buyback perhaps getting the SP above $2 once it's completed.
Ok so after I read around it seems Sophie has told plenty of media outlets that they are currently in discussions with other parties regarding takeover offers. I am absolutely bewildered there was not a single mention in the earnings report or on the earnings call.
Sophie told stuff.co.nz:
She said something similar to NBR (mentioned earlier today in this thread)Quote:
Moloney said there were “some discussions that are ongoing” after it appointed investment bank Jarden to handle approaches from potential investors in June.
The road block is the property!
Any suitors will have disclosed if they want it by now and let's be honest, 65 to 100mill is too substantial in the overall picture to not be a conditional clause in any talks
Despite shareholder frustrations, what can board actually say...
Sophie was a bad appointment for CEO
Peter had some wisdom about this
Not much hope for SKT fortunes while she is in charge
Have a look at Burgerfuel - appointed KPMG in 2018 to advise on corporate options (ie. merger or takeover) and it is still going! Same update every 6 months about options still being explored. KPMG probably gave up 1.5 years ago after searching for a suitable candidate.
If a takeover or merger was going to happen, it would happen within 6 months, max 1 year. That’s how these things work. After that, it’s scrapping the bottom of the barrel for any kind of deal.
Craigs have turned a corner. Latest research note is outperform at $.23
I was impressed with the CFO. What we really need as a CEO is a finance/wall street type that will maximise shareholder gains by pitching SKY to his/her Wall Street mates for an eventual takeover. Then do buybacks in the short term with the property sale. With buy back if we can get share price to 20 cents ($2) then an eventual takeover in the vicinity of 30 cents ($3) is more likely.
Is half this forum still banned? Anyone know why?
Sorry, double post. See below.