Toddy
The company secretary requirement is an ASX thing, as is the disclosure.
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Toddy
The company secretary requirement is an ASX thing, as is the disclosure.
It would surely convince me of their arrogance if they go ahead and try to screw the shareholders for a pay rise in a crashing market. look at all the poor sods that converted the options at $1-50 now facing the prospect of watching it all end up in the directors swill trough. Even vector canceled their directors pay rise in this market. Hope you lot read the riot act at the AGM this sort of greed is where our system needs regulation. The sp was higher five years ago than it is today Their fees should be tied to that. Macdunk
Digger are you attending the AGM. Want to vote my shares. Let me know if this is possible and I will get in touch with you.
Naylz
Yes i will be at the AGM. Been attending regularly for quite a number of years,and into the future.
Before you or anyone else offers me there voting rights have a rough idea what i stand for. Firstly i just had a poll on the buy back and mostly it was me against everone else that was in favor of a BB. I still say of all the options it is not the best. A BB has been hatched on the run due to the sudden fall in SP and quick fixes in place of long term strategy is not the way to go.
I am though very much in favor of a fixed dividend policy.Used to be against dividends but the money lenders all like yields so you just have to go with the flow.I found this out very much when i tried to raise monies for the last conversion.Also think now we long term holders have waited long enough and need a minium fixed return.The dividend i will be pushing at the AGM will be a choice of cash or shares in lue or any combunation at the shareholder discression.
Have to say i am more in favor of an acquistion than i have given the impression before hand,just with a lot of causion.It is just that i think the dividend policy should come first.An acquisition as hugh potential to both be a winner or a loser.I am getting a little too old for all or nothing games,and an overseas acquisition will come with a bit of that attached.A close to home acquistion that we fully understand would be a good first step.
I also think we should consider a NZO shareholders council.The current world down turn is going to bring many changes.A lot of the mess we are in is a result of director and CEO greed.A council would be very useful in setting limits here,and keeping honest men honest.In the coming years NZO will be a great earner [unless the world ends] and the use of the monies needs far more general discussion than is now occuring.
Thoughts
Cheers Digger
An acquisition of a company with proven reserves (but maybe short of funds to develop them) could be
more profitable and a lot less risky than sinking the money into wildcat drills. Its just that there aren't
any of those in NZ. Or maybe a buy-in into a project with a company as above.
At the right time and price, that could be an easy way to expand reserves.
Steady growth instead of thrill-and-drill..
Whilst on the topic of mergers and aquisitions, the next couple of years we are going to see a lot of consolidation. Not sure what will be left of the NZX though. Big companies gobbling up smaller and weaker ones. NZO needs to protect iself from such predators and I would be interested to see what the board are looking to do in this regard.
Rich will get richer and the poor will stay poor
Is there anyone else on here that sees NZO as a great long term buy at current SP? Obviously the market sentiment is don't buy any shares till we know prices have hit rockbottom, but once things stabilise (whenever that is)
NZO is still making good money and should be one of the first to shoot up again.
Certainly I am not going to realise a loss by selling. I would rather hold for 2 or 3 years - I made the error of selling property in the last slump and regretted it. It's just a matter of time.