Share price down 17% and the half year report is expected in a couple of weeks... Leaky boat?
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Share price down 17% and the half year report is expected in a couple of weeks... Leaky boat?
I fear the leaky boat may be sinking...I was a holder when it first listed but not a holder now...hope the boat stays afloat for those holding....
Its a truckload for me.... :( I stupidly believed the hype.
Sorry to hear that Rupert but put it this way, I decided to put it into this rather than a 3 bedroom rental in south auckland.
My wife is till saying "I told you so". I'll leave comment there.
I need a jump of a few dollars.. How did Leanne Graham get a @#$#@ to be a member of the New Zealand Order of Merit .... FFS
She become CEO... milked it in salary for the tune of $1.4 milllion (ish) of investor capital. then left it with no hope and future. It was a share pump and dump. She is a charlatan.
0.064 cents.....
No sympathy needed.... That is the game isn't? Risk and reward?
Naa its not sympathy as in I feel sorry for you mushroom its more like I can understand how you might be feeling having taken a good walloping myself with Wynyard. Cheers
0.041 cents. It has to be close to death?
Geepers anyone who was brave enough to buy in @ $0.02 has done very very well! Still dont know why it is flying up.
disc not currently a holder but was and sold out for a loss
It doesn't take a great nominal value of trade to move an illiquid listing.
I remember reading about this company a while ago while I was researching. Don't remember ever thinking it was in a great position the rally is on somewhat unusual volumes. Will be interesting to see if there's some sort of explanation or simply price action buying. It's not like they've benefited from the current situation either, but geez what a great amount of money someone could have made putting an odd 10k or so at the bottom up almost 300%
SPP @ .065 whose up to this as money raised IMHO is for nothing but Fish Heads overheads, no new acquitions !!
How many times are they going to prop this thing up?
https://www.nzx.com/announcements/363451
Geezzz let it die.
I cannot find any link to GEO so Im starting one link.
What is going on with GEO at present as it has moved off its recent low of .06, can anyone shed any light on its recent rise.
I thought that it was almost a cot case but it appears that I was wrong ( again ) .
Good on ya @whatsup. this thing has gotta pop. Tradify was valued at 10 X ARR pre cash. The GEO boys are sitting at around 2-3 X ARR and have a much better cash burn management system in place. Talk about way under valued!!!!!! Wonder if they would know what to do if there was a further 10 million injection. Tradify lads are pretty smart when it comes to diggy marketing though.
Starting to move now. Good level of liquidity. Feels like a price of 30 to 40 cents is still at the low range based on 55Million valuation Tradify received.
Just on that, does anyone have any relevant/accurate comparison between Geo and Tradify? Are they similar companies in terms of product or does one have technology or something else that is different? What about users/subscribers?
Id appreciate any discussion on this
Thanks
Sam
.138 whatsup , up again on what !!
Brought back up so we can rejoice the current activity ...in light of all the tales of doom and gloom in the past
My understanding is that they are pretty much like for like. Tradify has a larger NZ base and GEO is lasered in on Oz. Both platforms are focused on the same pain point with slight variations, but basically the same and definitely an option of consolidation. Tradify is backed by VC - Movac and GEO is being backed by their chairman's (Roger Sharp) investment vehicle Northridge Partners. GEO has ARR of about 4-5Million and Tradify is around 5-6 Million. GEO appears to have a better handle on cashburn. Executive team at GEO has some good motivators to deliver based on announcements around options for them. Not sure what is on offer to Tradify team. CEO of Tradify sounds switched on, but is not the founder. The big difference is the market cap. Tradify was valued at 55million (pre money) based on raise and GEO is still at nzx at 15Mil. So its massively still undervalued. https://www.nzherald.co.nz/business/...5YAGHB7E3U454/
Many thanks Bulyak
Whats wrong with everyone. Does no-one use this channel anymore to talk about these companies. Is the NZX dying or is the communication channel dying? Wow. You've got a company here that is massively under-valued. I just dont get it. Guess everyone is taking their 100% gain from their tiny little SPP investment at $.06. Man.... us kiwis sure are a thick lot. Quite happy to chuck our kiwisaver into a scheme with some 22 year old grad and pay them an excessive fee to get us a 6% return, while most markets around the world have doubled in value over the past year.
Things still going well with Geo
GEO PROVES ITS RESILIENCE IN AUSTRALIAN COVID LOCKDOWNS
http://nzx-prod-s7fsd7f98s.s3-websit...864/351734.pdf
What do we make of those numbers and that news?? On face value, the story sounds really good. Increasing metrics (such as client numbers) should feed through to revenues at some stage which do still remain rather flat. Thinking they will need to raise capital to maximise their potential (soon). I still really like this, especially if they look to expand to another jurisdiction and they get their margins a little higher.
I'm always sceptical when company release results at the end of trading
Gosh thought this thing was dead on its feet long time ago then BOOM its come back to life. Up heaps today :eek2: Geez whiz :D
Bhatnagar Securities fronted up with some dosh in latest capital raise
Bhatnagar was one of big supporters of Pushpay in early days and became one of their bigger shareholders
So GEO having them on board is a good sign ….they are pretty astute and successful investors
No worries Rupert …you got some?
This stock continues to trade under the radar in my opinion. Has a good core of investors now and, when considered against industry peers, the market cap looks cheap. The cash burn is not overly high and the new capital to be used for scale and expansion is very encouraging. I like the management team too - they are focused on what needs to be done
Disc: Held GEO since January
interesting noting a 6,273,916 special trade at 5.24pm.at 16 cents.
I note Lindsay Investment Trust hold or held that amount.
It’s lipstick on a pig stuff, odds on the Lindsay trust bought into it and now see their mistake. Any investor with an ounce of financial acumen would run a mile after reading their accounts, its only for day traders chasing dead cat bounces.
Where’s the huge untapped market opportunity and profitability just over the horizon they’ve been talking since they listed close on a decade ago. If the market exists they’ve clearly failed, I put ‘job management software’ into Google, got to page 5 without finding them. The reality is they’ve burnt over $30m in investor capital, losses are 10 years times a falling underlying revenue, higher if you add back all the taxpayer subsidies.
If you want to invest long-term in a SaaS business have a look at IKE. It’s not for the risk adverse, they still haven’t reached their early revenue targets and remain unprofitable years after they claimed they’d reach breakeven, their original strategy of selling devices rather than services was a dead end street, it appears they’ve done a lot to fix it. But compared to this POS it has a real point of difference so you’re far less likely to flush your money down the toilet.
Aaron Bhatnagar and family now hold 10% plus
They did exceptionally well with Pushpay
He no clown
It does seem odd that so many are keen at 16+ cents and yet they are going to issue an SPP at .13 NZD in November. https://www.nzx.com/announcements/380293 . as for Survfer's comments. Who cares what happened 10 years ago. Its a different company now. Appreciate its a crowded space, but their balance sheet is healthy, unless I'm missing something. I like IKE but I have concerns that there really isnt a massive revenue stream from this niche vertical.
Either can I. All I can see is a vehicle for "executives" to pay themselves investor cash.
You need to look into the history.
The first CEO positioned herself to make sure she was well rewarded for little to no result (working towards profitably).
If you do the sums it was 7 figures.
Looking to the future;
Purpose of Capital Raising
Proceeds from the Capital Raising are intended to be used to accelerate the development of the GEO platform and support increased go-to-market investment and activities in both Australia and New Zealand, as well as other international markets. GEO’s focus market of ‘tradies’ and ‘home services’ remains early in its transformation to digital and the funds raised under the Placement and this Offer will put GEO in a strong position to address and capture that large market opportunity.
This is all stuff they should have had sorted at the first ipo.
It’s because again Geo is running out of cash. Another company that thought Saas was easy. Wasted millions. Rented offices in Parnell and Melbourne. Over paid their executives.
They don’t know their market. They have massive churn. It’s a dead horse. Fyi I’m an investor sadly.
I’m an early investor and should have sold up before it crashed. The loss is too great to sell. I have other investments which are doing well and not in the high risk category. I’m not worried about the loss. I treat this like a soap opera. It’s kind of sadly amusing what cluster this company is.
Who else thinks the share price is going to drop below $0.13 NZD per share offer? If so that would be really funny. I would buy some just piss them off.
Wow, knickers in a knot? I take you are not watching the share price as it was heading south until last few days.
But whatever. Get laid, chill out.
Nice move up today 8% ! No news - what am I missing?
SPP application expiry tomorrow, so ?
Moving in the right direction. Hopefully it lasts.
Very heavy scaling I expect,although not unexpected..Perhaps only 35% of what we applied for.[if we are lucky]
Well the refund should fund Christmas.lol.
lhttps://www.nzx.com/announcements/383292
Attended the agm online.
High calibre directors and competent executives, with a clear focus, means the business should be successful.
Funds raised to develop product and drive growth.
Well the capital raise was grossly over subscribed.
I guess we could say it was a huge success.
Pity I received 12.13225% of the shares I applied for,ie 18,665 shares or $2426.45 worth for the $20,000 I applied for.
I have often posted I do not like SPP Share Purchase Plans,and this confirms the reason why.
And down it goes.... again. LOL. Merry Christmas everyone. Have a good one.
Been keeping an eye on this also. The volumes are abysmal so I wouldnt read too much in to it, it literally moved 1.5 cents on $3000 in one session which represented a 10% move. Ón another day it moved 0.7/cent on $287!I am not sure of the underlying current fundamentals in terms of revenue and the UK expansion but the stock remains reasonably tightly held by long term holders. That said, would have thought that people might to start picking shares up at current valuation give what Tradify have just done (Tradify being the competition). They raised last year at a $55mio valuation and again recently at circa $100mio valuation so this looks like low hanging fruit if you believe in the sector and the software.
Personally, I quite like this and at current levels will start having a go
Management's failure to say when they would stop cash burn chasing growth, and be cashflow positive, certainly stopped me adding to the wife's extremely modest holding.
Cash burn continues.
NBR - The chief executive of NZX-listed software-as-a-service provider Geo has admitted the company’s half-year results were disappointing but reckoned the company has never been in better shape, and would be soon asking investors for more capital.
Apparently Pioneer going to pump in $2.5m at 13.5% and they look to other investors for another $1m
Last raise was at 13 çents in Oct 2021 …share price now 4 çents …ouch
Yeah. Interesting report released today. Bit of competition in this space.
Something not right with this company as it stands and I would be very interested to go back a year or two and check some of the statements and assertions that Tim Molloy made to investors. It doesnt feel as though the full picture may have been presented as well as it should have at the time..... this does not pass the sniff test!
Snodgrass also leaving is strange given how much he 'pumped' this thing verbally.... luckily, I sold some of my holding down (not enough though) after these guys couldnt answer simple questions at the AGM. Real amateurs involved here
https://www.nzx.com/announcements/421200
NZ RegCo advises that, at the request of the Geo Limited (“GEO”), it has placed a trading halt on GEO ordinary shares. The trading halt was placed at premarket open today, Tuesday, 7 November 2023.
GEO has applied for the trading halt while it considers updates to its market guidance, and also its strategic review as announced on 29 August 2023.
The trading halt will remain in place for up to two trading days until the earlier of GEO publishing a market update, or market open on Thursday, 9 November 2023.
Sounds ominous eh Bob
And where is wunderkid Mark Weldon?
BS begets even bigger BS and there is none bigger than Weldon.
Wonder if Sparky’ Bhatagner still involved
What does everyone think the trading halt is for? an offer on the table? Whats the buy out share price? All will be revealed at opening of market. mmmmmm
https://www.nzx.com/announcements/421319
GEO Revises Guidance and Provides Update on Strategic Review
Further to NZ RegCo’s advice that, at the request of Geo Limited (GEO, Company), it had placed a trading halt on Geo’s
ordinary shares on 7 November 2023, GEO provides the following market update.
Background
GEO announced on 29 August 2023 that it was launching a strategic review. The Company’s Board has approved changes to
move immediately to EBITDA profit, and has decided to launch an immediate formal process to assess buyer interest in
acquiring the Company (or a similar strategic transaction).
Update on Trading and Guidance
Annualised Recurring Revenue (ARR) is expected to be in the range NZ$4.0m - $4.2m at 31 December 2023, representing
growth of 20-25% over the ARR run-rate as at 30 June 2023 and driven largely from recent price increases.
With its platform rebuild largely complete, new features in market and price increases implemented, GEO is undertaking
further cost reductions. As a result, the Company now expects to achieve a sustainable positive EBITDA run rate (including
capitalised R&D) by 31 December 2023.
Excluding the impact of R&D capitalisation, this equates to a ~$20-30k monthly operating and investing cash flow deficit. The
Company will seek to eliminate this ongoing minor cash burn through final efficiencies in its overhead cost base in early
calendar 2024.
Achieving breakeven will require a range of cost reductions, including in customer acquisition activity. This will reduce short
term growth (see Risks, below). GEO will assess and optimise the balance between revenue growth and bottom-line
profitability once EBITDA breakeven has been achieved.
Sale Process
After consideration of the updated financial outlook and conclusions from its strategic review, the Board has decided to
launch an immediate formal process to assess buyer interest in the Company. There is no guarantee that a transaction can
be completed on satisfactory terms; however, in the Board’s view, the initial interest received justifies launching a formal
process.
Balance Sheet
The Company had previously guided to achieving EBITDA breakeven by the close of FY24 within current cash reserves.
With the accelerated move to EBITDA positive by December 2023, cash at 31 December 2023 is projected to be in the range
of $600k - $800k after one-off restructuring costs.
GEO notes the need to cover the modest remaining monthly cash burn ($20k - $30k per guidance above) and the potential
one-off legal, expert and advisory costs associated with any transaction process. To ensure the Company has a stronger
liquidity buffer as it moves into a sale, GEO is investigating putting in place a small funding facility.
On 8th November 2023, Pioneer Capital clarified the definition of 'normal operating cashflows' with respect to covenants in
its loan agreement. Until now, GEO understood that the definition excluded one-off restructuring costs. Having considered
that advice, we are now aware that a technical breach of a facility covenant occurred due to the one-off restructuring costs
incurred in September 2023.
Pioneer advises that the breach has been remedied to their satisfaction and there is no continuing event of default.
Risk Profile
The ARR outlined above reflects both new features and one-off price increases, and assumes that customer retention
remains consistent with current levels. With future price increases likely to be lower, and customer acquisition activity
reduced, the rate of growth experienced in H1 24 is unlikely to be sustained. Further, the additional cost reductions being
implemented to achieve EBITDA breakeven will result in a smaller team with some potential for heightened operational risk.
For more information:
Tim Molloy
Chair
AU: +61 411 592 180
NZ: +64 21 284 0180
Email tim.molloy@geoop.com
https://www.nzx.com/announcements/421319
GEO Revises Guidance and Provides Update on Strategic Review
Further to NZ RegCo’s advice that, at the request of Geo Limited (GEO, Company), it had placed a trading halt on Geo’s
ordinary shares on 7 November 2023, GEO provides the following market update.
Background
GEO announced on 29 August 2023 that it was launching a strategic review. The Company’s Board has approved changes to
move immediately to EBITDA profit, and has decided to launch an immediate formal process to assess buyer interest in
acquiring the Company (or a similar strategic transaction).
Update on Trading and Guidance
Annualised Recurring Revenue (ARR) is expected to be in the range NZ$4.0m - $4.2m at 31 December 2023, representing
growth of 20-25% over the ARR run-rate as at 30 June 2023 and driven largely from recent price increases.
With its platform rebuild largely complete, new features in market and price increases implemented, GEO is undertaking
further cost reductions. As a result, the Company now expects to achieve a sustainable positive EBITDA run rate (including
capitalised R&D) by 31 December 2023.
Excluding the impact of R&D capitalisation, this equates to a ~$20-30k monthly operating and investing cash flow deficit. The
Company will seek to eliminate this ongoing minor cash burn through final efficiencies in its overhead cost base in early
calendar 2024.
Achieving breakeven will require a range of cost reductions, including in customer acquisition activity. This will reduce short
term growth (see Risks, below). GEO will assess and optimise the balance between revenue growth and bottom-line
profitability once EBITDA breakeven has been achieved.
Sale Process
After consideration of the updated financial outlook and conclusions from its strategic review, the Board has decided to
launch an immediate formal process to assess buyer interest in the Company. There is no guarantee that a transaction can
be completed on satisfactory terms; however, in the Board’s view, the initial interest received justifies launching a formal
process.
Balance Sheet
The Company had previously guided to achieving EBITDA breakeven by the close of FY24 within current cash reserves.
With the accelerated move to EBITDA positive by December 2023, cash at 31 December 2023 is projected to be in the range
of $600k - $800k after one-off restructuring costs.
GEO notes the need to cover the modest remaining monthly cash burn ($20k - $30k per guidance above) and the potential
one-off legal, expert and advisory costs associated with any transaction process. To ensure the Company has a stronger
liquidity buffer as it moves into a sale, GEO is investigating putting in place a small funding facility.
On 8th November 2023, Pioneer Capital clarified the definition of 'normal operating cashflows' with respect to covenants in
its loan agreement. Until now, GEO understood that the definition excluded one-off restructuring costs. Having considered
that advice, we are now aware that a technical breach of a facility covenant occurred due to the one-off restructuring costs
incurred in September 2023.
Pioneer advises that the breach has been remedied to their satisfaction and there is no continuing event of default.
Risk Profile
The ARR outlined above reflects both new features and one-off price increases, and assumes that customer retention
remains consistent with current levels. With future price increases likely to be lower, and customer acquisition activity
reduced, the rate of growth experienced in H1 24 is unlikely to be sustained. Further, the additional cost reductions being
implemented to achieve EBITDA breakeven will result in a smaller team with some potential for heightened operational risk.
For more information:
Tim Molloy
Chair
AU: +61 411 592 180
NZ: +64 21 284 0180
Email tim.molloy@geoop.com
FOR SALE ….going cheap
Think they’ve decided it’s all too hard
Looks like there's no appetite left from existing and potential shareholders/investors to provide more survival capital after 10 years as a listed entity.
Market cap of $3.75m after burning through capital raise after capital raise of over $30m.
Not as painful though as those who admired Wunderkid Mark Weldon and bought after IPO listing at over $2.00.
Did that announcement really require a trading halt. Seemed very BAU type update. Very sad to see a Saas business like this being valued at less then X 1 multiplier. Feels like the NZX is a bit of graveyard at times. No access to liquidity, low valuations. Wouldnt it be great to see a company thrive on the NZX. Imagine. Company X raises money, drives revenue, doesnt reach profitability but still continues to grow. Raises more money at a higher valuation, continues to grow. Doesnt reach profitability. But continues to grow. Raises more money. Continues to grow. Share price goes up. Doesnt quite reach profitability. Acquires another company that bolsters company X's platform through a strategic acquisition. Raises money to help pay for the acquisition. Continues to grow. And the cycle goes on. But instead we are left with companies that have ARR of 4 mIllion NZD and all we care about is profit. Thats like 2.5 Million USD ARR. Its nothing in the scheme of things. Why would you be listed. Quit wasting our time.
To be completely honest, this has been a mess for the past year and I would imagine there will be ramifications for the management of this company. The statements that have been made around projections, revenue, capital raising (in hindsight) all lack substance and honesty and I think this thing deserves some sunlight
Anyone know what the current ARR for Tradify is? I see figures for back when they raised 10 million on a Valuation of 55Million in 2021. But curious what the numbers are currently at.
That is a good point. I am hearing murmurs from other disgruntled shareholders regarding this situation. Watch this space and I would encourage anyone with any further information or insights to raise them here. The statements that these guys raised at 16 cents (from memory) and then again at 3 cents on are starting to look pretty bloody murky!
Going the same way as Snakk - a painful grind towards non-existent as one after another financier/shareholder gives up?
https://d2xgqyuql1olth.cloudfront.ne...p-low_0_1.jpeg
https://www.rnz.co.nz/news/business/...remarket-debut
Shares in GeoOp, an online mobile workforce management company, made its debut on the stock exchange on Thursday at well above double the price they were sold to investors when they were initially floated.
GeoOp shares began trading at $2.38 compared with their $1 per share price in the company's $10 million capital raising.
The shares traded at between $1.90 and $2.40 on Thursday morning, before closing at $2.20 a share.
Mr Weldon says GeoOp provides the opportunity to do something innovative and global, as well as providing the fulfilment of being involved with a small company and helping it grow.
He says he's never seen such a successful debut, but he's not getting carried away because the company, which has yet to make a profit, has still got to prove itself.
Certainly looks that way, Balance. I think the issue for these clowns is going to be the statements they have made and the assertions and number provided. Molloy was slipper in the AGM and never answers anything directly. He may as well leave NZ now, reputation shot
Did any GEO shareholder's log in to the AGM yesterday?
Interested to know what was said about "buyer interest in acquiring the company".
https://www.nzx.com/announcements/424440
Intention to Delist from NZX Main Board
• Geo Limited is too small to continue to maintain a stock market listing
• The current NXZ listing is not providing liquidity for shareholders
• The current NZX listing is prohibitively costly and time consuming to manage
• The Board’s intention is to delist to reduce costs, save time and continue to seek buyer interest
Geo Limited (NZX.GEO) today announces its intention, subject to shareholder approval, to delist from the NZX Main Board. This proposed change forms part of an ongoing cost reduction program with the goal to achieve EBITDA profitability and cashflow breakeven within 2H FY24.
The primary rationale for delisting includes:
1. Infrequent trading and low liquidity:
While the Company has a wide shareholder base, the trading of shares is infrequent and occurs at very low volumes (i.e., the Company’s shares have very low liquidity). As such being listed on the NZX Main Board provides little benefit to shareholders from a liquidity perspective.
2. High ongoing compliance and governance costs:
Maintaining the Company’s listing on the NZX Main Board incurs substantial ongoing compliance and governance costs. These costs have increased over time, including, particularly, as corporate governance requirements and reporting have become more involved. In addition, the Company has incurred significant cost in recent years to undertake capital raisings and other transactions in compliance with the NZX Listing Rules.
As announced on 29th August 2023, and subsequently 9th November 2023, the Company announced a cost reduction program of which compliance and governance costs forms a substantial part.
Given the Company continues to operate at a loss, delisting from the NZX will reduce ongoing costs, including significant compliance and governance costs and help the Company reach a breakeven position, lessening its reliance on further capital raisings.
3. More time to focus on core business activities:
Delisting will enable management to devote more time to core business activities, as management will no longer be required to allocate significant resources to compliance activities associated with maintaining a listing on the NZX.
4. Strategic review and interest from potential buyers:
As part of the already announced strategic review GEO is actively seeking interest from potential buyers. The Board is of the view that an unlisted company may widen the pool of potential buyers and help create additional shareholder value.
Accordingly, the GEO Board considers that delisting from the NZX Main Board is in the best interest of GEO shareholders.
NZX and Shareholder Approval:
NZX Limited has approved the Company’s delisting on the following conditions:
• That the Company obtains, by way of ordinary resolution, approval from shareholders who are Non-Affiliated Shareholders to delist from the NZX Main Board;
• That NZ RegCo reviews prior to publication any delisting announcement and communication that the Company sends its financial product holders;
• That the Company pay all NZX fees; and
• That the Company provides at least one month’s notice of the delisting to the market.
The Company intends to obtain shareholder approval by way of ordinary resolution of Non-Affiliated Shareholders (essentially, shareholders with a holding less than 10%) at a General Meeting online on Tuesday, 23 January 2024 at 1pm NZT. Please refer to the Notice of Meeting dated 8 January 2024 for details including process for voting at the meeting, and the potential impacts on shareholders of the delisting. The indicative timetable is as follows:
[See table in attached PDF]
Following delisting:
NZ RegCo will no longer regulate the Company’s compliance with the Listing Rules. The Company will cease being subject to the governance and disclosure requirements of the NZX, as described in the Notice of Meeting. The Company will continue to be domiciled in New Zealand and financial product holders rights under the Companies Act 1993, Financial Markets Conduct Act 2013, and Takeovers Code will be substantially unchanged. The Board is of the view that the Company’s continuing obligations under the applicable law will provide Shareholders with sufficient transparency in the absence of the obligations applicable while listed on the NZX Main Board. This is described in more detail in the Notice of Meeting.
Upon delisting, GEO shares can no longer be publicly traded which could reduce the ability of shareholders to sell their shares. However, the Company intends to continue to use a third-party share registrar to maintain the share register, who can facilitate off-market transfers for shareholders wishing to transfer shares, warrant holders wishing to exercise warrants, and participants in GEO’s Employee Share Option Plan wishing to exercise options. The determination of share prices will be a matter for private negotiation.
Geo Chair Commentary:
Tim Molloy says: “Considering the limited benefit to shareholders versus the substantial costs associated with maintaining the NZX listing, both management and the GEO Board considers that a delisting is in the best interests of shareholders. The cost savings associated with the delisting will help the Company achieve cashflow breakeven in 2H FY24 and assist in the sale process. On behalf of the Board, I encourage all shareholders eligible to vote to support the resolution at the upcoming general meeting”.
For more information, please refer to the Notice of Meeting dated 8 January 2024.
At 2 cents per share their market cap is just $4.4 mil.
Bring back Mark Weldon!
Maybe his presence will send the sp back up to $2.00+ again!
Holders getting out while they can - down 35% so far today.
Mind you, that means the SP went from 2c to 1.3c......;)
A bit of attrition happening on NZX boards
MHM soon to disappear into private offshore ownership and now this one
Geo-ffing into the haze too, with any ability for market trading to disappear,
similar position to those who got QEXed over badly
What will NZX do to fill the gaps ? More ETFs & Funds ? but alas dont they need listings
somewhere to base their values on ?
While briefly chatting about NZX attrition have noted the following:
Cumulative Numbers - YTD
Number of trades
Total value traded
% of value on-market9,038,164
$33,802 m
61.5%-22.6
-9.7% -3.5%
22.6% down in number of trades, especially while % of on-market is going up,
NZX looks like a fast dying exchange to me - very concerning...
Don't know about prior years.
Probably a good one for the NZX company thread.
I would have thought the number of trades would have been higher with the likes of Sharesies.
But agree, it is very concerning......
Who is the next listing? Where is it coming from? Anyone graduating off the USX?? How many NZ companies have listed on the ASX in recent years rather than the NZX?
Yeah nah.
We’re getting in touch to let you know Geo Limited (GEO) is intending to delist (be removed) from the New Zealand Stock Exchange (NZX) on 12 February 2024 pending shareholder approval on the 23rd of January 2024. For more info, you can read GEO’s announcement, or check out our Learn article about delistings.