NZ is a small country with an even smaller sharemarket. The Old Boy Network runs the institutions, the “institutional shareholders” and boards of directors. These “old boys” determined that the details of the offer were not to be released to the mum & dad small shareholders. We take what they want to give us. In other words we are the last to know of things that affect the value of our shareholdings. In NZ we are supposed to invest in our expensive housing.