Yeah for sure. Matter of time now.
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19 cents is a major resistance level. If that clears there is heaps of resistance free upside.
Remember post consolidation there will be
just under 175 million shares on issue
Adjusting NTA on that - say 60.0 cps
Earnings per share 27.0 cps
and a more manageable bundle of shares on issue for any potential suitor to start chewing away acquiring.
there would be lots of small parcels out there too
If SKT in their tidy up of things eventually decide to rationalise the Registry they could be gone / sold as well
Post Consolidation - say $1.90 SP don't look out of the way for inviting further suitors circling for a piece of the action
when one looks at prices on the rest of the board, or similar media based outfits elsewhere
SKT removing the clutter may well be just what the Doctor ordered to encouraging the party to begin earlier ;)
Nztx - I think any suitor wouldn’t care a squat how many shares are on issue ..it the bucks that count
But there’s no suitor anyway
My understanding is that the consolidation is mainly to enable a 1c spread on the ASX, rather than the current 0.5c. In practice there is no other impact really.
Might actually benefit the NZX soon too if it goes over 20c :t_up:
Good as near to 1% of the company traded today. Might tip over the line by closing.
Be fascinating to watch pre-close today...mouth watering :p
Please explain from nzx coming. Trades are on market which suggest that the bog boys don’t want to sell at these prices