I hardly have any. About 1600. Have sent off my "no" vote.
I hardly have any. About 1600. Have sent off my "no" vote.
Romulus hold just over 1000 notes. Planning on going to the meeting. Surely they would be better to save the cost of the meeting & wait 6 months. The venue is one of the most expensive in Auckland
I won't be able to attend and I doubt that many will. Thankyou for the numbers as it gives me an idea on the number who are likely to vote ( I guessing very low number since many large holders are Korean and probably too difficult to attend). The "NO" vote I suspect will count.
Regards
Lizard & Romulus The idiots voted yes about 79% of those that voted & they did get a Quorum so all done & dusted. A lot thought that if they voted no they would end up getting nothing.
Interesting deal. I'm not sure the stock is good value, but they're doing an excellent recovery job.
I agree the company has done really well coming back from the brink of oblivion. When you think of how many finance companies went to the wall you have to say the Dorchester management has done a great job.
I'm not sure you can measure how good the deal is until the company provides further information about the purchase terms. We know that 60% of the purchase consideration is in cash and 40% in Dorchester shares but we don't know how the cash component is being funded, what level of interest they will be charged and the repayment terms for the funding, the price of the shares that will be issued (i.e. how much the deal dilutes existing shareholders) and the terms of the earn-out arrangement.
Haha now the statement is that "the Dorchester Group could potentially achieve a net profit after tax of $4m - $5m in the next full financial year". Slapping 'could' and 'potentially' together means it's a wish. Heck I 'could potentially' win Lotto this weekend.
Also the PE might look like 9 at the current price but there are some shares to be issued and some debts to be rung up before the purchase is settled and that's got to have some impact (there is still no mention of how the cash component is being funded, what level of interest they will be charged, the debt repayment terms, the price of the shares that will be issued and the terms of the earn-out arrangement).
Good luck to the company and holders though. The company is turning itself around very nicely so hopefully this is the start of something good.
Still climbing .... no body wants to sell. lol