Nice if one of those 11 missed out bidders takes a bigger bite and pumps Ampol's offer
NZ opens border 27th Feb ..... just in time for Ampol
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Nice if one of those 11 missed out bidders takes a bigger bite and pumps Ampol's offer
NZ opens border 27th Feb ..... just in time for Ampol
Pockets might not be as deep as Ampol's. There does seem to be a lot of new Gull shops opening up tho. Must be worth a reasonable amount. Any numbers being bandied about?
600 million has been mentioned for Gull
ACC sold down their holding a bit, so they no longer have a substantial holding:
http://nzx-prod-s7fsd7f98s.s3-websit...452/364765.pdf
Others seem to be increasing theirs judging by the recent notices. Fingers crossed 🤞
About 5 weeks until the scheme of arrangement is meant to be sorted? 14 cents difference between today's closing and Ampol's price. Morgan Stanley certainly still busy judging by their disclosures.
Scheme meeting booklet
https://www.nzx.com/announcements/387911
I bet Share Tank is getting topped up by a lot of people. I bought a few litres of both 91 and 95 a while back. Should have bought more.
ampol has informed the commerce commission a ipo will not be part of the divestment of gull process..... meaning a trade sale is most likely i assume
Will there be a dividend paid in the next few months whilst they work through the sale process?
Aside from the interim dividend that was paid on 8 Dec-21 (7 cents), any other dividends paid prior to the implementation date will decrease the amount of $3.76 per Z shares that shareholders receive.
The other item to note is:
For each calendar day that the date of implementation of the Scheme is after 31 March 2022, Shareholders on the Scheme Record Date will also be entitled to receive NZ$0.00055 per Z Share per day (up to a maximum of 10c per Z Share).
Share price has narrowed to within 8 cents of take over offer.
Wonder what will happen to Z share price if Russian oil is banned as it will cause a worldwide shortage. And as countries scrabble for supplies how will we fare?
NZ imports from Russia in 2020 were close to 20% of total.
Attachment 13581
https://www.mbie.govt.nz/dmsdocument...w-zealand-2021
When does NZ (Marsden Point) move away from importing crude at all? Then will surely not care where the crude comes from because we'll just be getting Singapore refined.
The arrival of the Torm Ingeborg at Marsden Point this weekend is the last shipment, carrying 90782 metric tonnes. From 1 News.
Is it too late to say "We want to keep Z Energy" to the AMPOL raiders ? ;)
ZEL is being gifted to AMPOL at the lowball value they threw on the table IMO ;)
A female from Computershare Australia rang me today regarding if I decide to vote in favor of the takeover by Ampol. I asked her to show me the colour of her money and I hung up.
Anybody wish to speculate why Computershare phoning holders and not Link
New offer or shortfall of numbers ?
Z will currently be making enormous profits selling fuel at current spot egregiously inflated prices based on raw material costs from months ago.
Update on sale of Gull business
https://www.nzx.com/announcements/388807
yep big hurdle cleared with the sale of gull
im not counting my loot till they pass the final hurdles but as for my recycling it is very difficult to find anything i like on the NZX at this point in time. why ? because the economy heading down and inflation is heading up and probably staying at elevated levels compared to the past... this might imply stag flation we will know in time ( the govt is starting to panic ie immigration settings relaxed , talk about opening up to tourists quicker etc trying to get some growth in there ) the play was energy and commodities but they have run hard so dont like chasing these things when they have already run hard. so it is a very hard question maybe ill hold some cash for opp's later on and see how everything pans out. made plenty of gains last few yrs so if this yr is lack lustre its not the end of the world.
Commerce Commission has granted approval to Ampol provided Gull divestment occurs:
https://comcom.govt.nz/news-and-medi...stment-of-gull
Do we get any divies before we hand the keys over?
Only if the process gets dragged out. And if they do pay a dividend the value of that is deducted from the settlement price. So in effect, no.
your get another 5c if the deal isnt settled by end march
The Z Energy board has unanimously recommended Ampol's offer of $3.83 a share, which has been boosted by Ampol agreeing to the payment of 5 cents a share of the next dividend.
The deal values Z Energy at about $2 billion.
"The Z Board unanimously recommends that shareholders vote in favour of the scheme, subject to the scheme consideration being within or above the valuation
range specified by the independent advisor and in the absence of a superior proposal being made for Z," the company said in a statement.
The payout would increase by another 5 cents a share if the deal is not settled by the end of March next year.
From the recent scheme of arrangement booklet.
Adjusting Permitted Dividends: On 8 December 2021, Z Energy paid an interim dividend of NZ$0.07 per Z Energy
Share.
If Z Energy pays any further dividends in respect of the financial year to 31 March 2022, the amount of such
dividend(s) will reduce the Scheme Consideration payable by Ampol.
Will this scheme result in all the consideration from the takeover being treated as a taxable dividend? As happened with (for example) NZ shareholders with respect to the take-over proceeds from the NZX listed Diligent Corporation (DIL) scheme about 5 years ago. The documentation does not disclose the taxation consequences for shareholders.
Any ideas as to, provided the vote is sell, when the $ would hit our hot little hands? Thank you
So, what's the consensus, yay or nay.