50% in a stock like Ryman and I wouldn't bat an eyelid( Already been there in times past)
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Leaving couta1 to trade his way into poverty and smiling at the Ozzie press taking great delight in VAH putting one over on that nasty Air New Zealand the fact does remain that:
VAH largest single shareholder no longer has a seat on the board, and few friends where it needs them.
Best Wishes
Paper Tiger
Yes, I wonder if the Board did a debrief on that decision? It really did seem like a rash decision. Still, it might be able to be turned into a nice Harvard Business School scenerio about what not to do in a situation like that so all is not lost.
Hello, just bought back in at 2.23 after selling last lot 40 months ago. Now waiting for price to go down as it normally does when I buy in:).
You good chaps assuming this heads of agreement is already done and dusted and I'd be prepared to wager you a few cold ones that a share issue of that magnitude requires a special resolution with 75% of shareholders agreeing to it. Seeing as AIR presently owns more than 25% Borgatti might have just handed our Harvard graduate a very good bargaining chip without even realising it. Back Luxon over Borgatti any day of the week, just look at the respective financial performance of the two airlines for starters !
Sometimes discretion is the better part of valour when it comes to taking excessively large positions...sometimes when you're in a hole the best thing to do is to stop digging. I think having sensible sized allocation in one's portfolio to risky volatile shares is a prudent thing for anyone, especially anyone within circa 10-15 years of their retirement.
Hope you're right Roger, I just felt like venting a little.
Couta1, I'm with Roger and everyone else. 50% in any one stock is bonkers, in my humble opinion.