Never bet on a fact that you cannot be bothered to check first
Quote:
Originally Posted by
winner69
I think you will find unless new capital is greater than 15% shareholder approval NOT needed
It's not that straight forward - probably why the announced amount is a rather odd percentage
This is correct, shareholder approval is not required to issue up to 15% of new capital in a 12 month period.
And when you do this little bit of maths:
15%/115% = ?
you get 0.13 or 13%.
Best Wishes
Paper Tiger
Airlines, I have flown a few
Quote:
Originally Posted by
winner69
Does save all that bother not having to go through that process of getting shareholder pprovals
Still have feeling all this not good for Air NZ
I am not 100% sure about this but:
VAH can still do a pro-rata issue, should the board so decide, without needing shareholder approval.
Quote:
Originally Posted by
winner69
PT - you flown on any of these HNA planes of many guises?
Not knowingly but the balance of probabilities is that I have.
Best Wishes
Paper Tiger
A little conjecture on events that will affect Air New Zealand
Quote:
Originally Posted by
workingdad
Thank you PT....
....Anyway, hopefully I have better luck with the snapper than my ability to catch knives of late.
I believe that should anyone announce a takeover for VAH it now would have to be for a VAH that has been fattened by the new equity issued to HNA, I actually believe a takeover is unlikely.
I strongly suspect that once the new shares are issued and the new director is settled into his boardroom leather chair a pro-rata rights issue will be announced.
It will be a 1 for 1 at near market price and it may well be underwritten.
Best Wishes & Successful Fishing
Paper Tiger