Yes. We have absolutely cracked the case this time…
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Some rookies probably think that the simplest explanation for how Sky will proceed is the most likely - buybacks and dividends.
But they have not absorbed the lessons freely given on this forum!!!
OBVIOUSLY the more complicated route is more likely!
Despite the CEO recently buying some shares on market, Sky are in some complicated negotiation with Vocus Group to spin off the NZ retail assets. Sky will buy these assets and then the next move a year later will be to buy the newspaper.
Even this probably won’t eventuate because Sky will almost certainly be taken over before shareholders get a chance to reap any of those rewards.
Sure, we have absolutely no reason to believe that any kind of deal is in the works. But if you don’t believe that a deal is imminent you are just an idiot quite frankly!
As a lawyer with only basic knowledge on corporate law, my understanding is that a CEO like Sophie can buy shares in a company(that they are the CEO of-and as long as all procedures are followed) if the information has been disclosed to the public (and more so if there is uncertainty in relation to the information e.g. a proposed takeover/merger which may or may not happen).
I don't have time to read that, I charge like $200-500 a hour...
Also I my opinion (to the best of my belief) is correct.
Those NZOnAir Survey results for Sky were not good. although I doubt some of the surveys findings, as it did not seem to include SkySportNow at all in the streaming video results. Were the operators of the survey so clueless they did not realize it’s a separate product to skybox subscriptions?
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Reading the comments about the OCA capital raise and the idle speculation they are doing it to buy the Sky campus. Even if that were true, the money OCA raised wouldn’t all be for purchase of the land, but also for the actual building costs which make up the bulk of the money needed to finish a new complex. I would still put the likely sale price below $50 million.
Well, many if us have now had ample opportunity to make up numbers on this one!
Ranging from a paltry $30M to a whopping $100M.
Time will tell.
It is a large site with a lot of potential. But as the OCA shareholders have pointed out on their forum - the Blacks are a big issue for them. So probably no deal.
Derek will know whats going on
Hi Ogg. New to looking at Sky Network and doing some basic research.
Can you point me towards any publicly available information on the book and/or market value of the Mt Wellington properties being potentially divested? I looked at note 12 / page 64 of the annual report and the reported book value was ~13.5m. I am trying to reconcile that to the book value of 35-38 quoted in the Macquare report. I assume it would be a complete sale and not a leaseback (IE - no attendant incremental lease expenses) particularly if it was going to someone who would develop it
Thanks
I tend to believe that if sky was judged the same as say a property stock, revaluation would be undertaken by a certified valuer frequently, dragging these levels up. After looking at commercial properties this year, the listed council valuations had little credibility compared to sales value. Closest I came on freely available info was big blocks in Avondale, be dividing the sales price by sqm I got a price of 65 to 68 mill, add in a premium for more central location would take us up to mid 80s.
I for one see Mount wellington as a prime candidate for redevelopment much like Glen Innes and see alot of potential for a retirement village.