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04-06-2024, 12:30 PM
#4611
[QUOTE=Bikeguy;1055318]
Originally Posted by bull....
if they do a cap raise it mean it be trading penny stock status , they would have to issue over a billions of shares to wipe debt out. not happening. even a billion shares at 20c is only 200m raise hardly going to help even with a 130m loan.
still have couple hundred + debt on falling revenue
What you are saying is right…so one has to think that Bright are either going to take it over, or take it over in a JV with A2,
Because a CR at these values does not make sense surely?
Letting it go to receivers would be a risk to both Bright and A2 so I don’t really see that happening…but letting the SP take a hammering in order to soften the market up for a low takeover offer seems plausible,
Have a look at SKT CR.
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04-06-2024, 12:30 PM
#4612
[QUOTE=Bikeguy;1055318]
Originally Posted by bull....
if they do a cap raise it mean it be trading penny stock status , they would have to issue over a billions of shares to wipe debt out. not happening. even a billion shares at 20c is only 200m raise hardly going to help even with a 130m loan.
still have couple hundred + debt on falling revenue
What you are saying is right…so one has to think that Bright are either going to take it over, or take it over in a JV with A2,
Because a CR at these values does not make sense surely?
Letting it go to receivers would be a risk to both Bright and A2 so I don’t really see that happening…but letting the SP take a hammering in order to soften the market up for a low takeover offer seems plausible,
Have a look at SKT CR.
From memory, SKT’s sp had been as high as $8+ before the change in its fortune. By the time the CR was initiated, sp was fine to 18c and rights issue was done at 12c. Suited some parties very very well to have it done at that price!!!
I don’t see a takeover by Bright - don’t forget A2M has a blocking stake and plenty of $$$$!
Last edited by Balance; 04-06-2024 at 01:04 PM.
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04-06-2024, 12:49 PM
#4613
Member
Things must be bad for synlait, on the price chart on the improved nzx site the price axis extends down to -$1 and -$2.
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04-06-2024, 12:58 PM
#4614
Originally Posted by Filthy
no not at all SR; sadly, I got in on SAMR news (which was +ve, & could've/should've been the point to undertake a CR) & out again a few months later at a loss. allocated funds elsewhere & now just an observer; with a side-interest via ATM. didn't mean to downramp; just calling it how I see it!
Yep fair enough
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04-06-2024, 02:20 PM
#4615
[QUOTE=Balance;1055320]
Originally Posted by Bikeguy
Have a look at SKT CR.
From memory, SKT’s sp had been as high as $8+ before the change in its fortune. By the time the CR was initiated, sp was fine to 18c and rights issue was done at 12c. Suited some parties very very well to have it done at that price!!!
I don’t see a takeover by Bright - don’t forget A2M has a blocking stake and plenty of $$$$!
difference was SKT financial situation. big difference in SML financials and outlook.
nuplex was another capital raise at 20c but financial situation different as well.
Last edited by bull....; 04-06-2024 at 02:22 PM.
one step ahead of the herd
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04-06-2024, 05:45 PM
#4616
https://www.nzherald.co.nz/business/...K2F454VIHVHAE/
Bright Dairy replaces Former Finance Minister Ruth Richardson with Leon Fung on Synlait board
Will sailing "Ruth-Less" help things ?
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04-06-2024, 05:52 PM
#4617
Originally Posted by bull....
difference was SKT financial situation. big difference in SML financials and outlook.
nuplex was another capital raise at 20c but financial situation different as well.
Really?
This is what you wrote back then :
Originally Posted by bull....
terrible as expected , revenue increase due to higher subscriber numbers doesnt mask the fact all other metrics are going backwards. competitor activity only likely to become more intense as more enter the market. only hope long term is someone buying the company in the future for the digital platform.
Big difference is that SML has two major shareholders with deep pockets, both of who are in and want SML for strategic reasons.
Last edited by Balance; 05-06-2024 at 08:18 AM.
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04-06-2024, 09:50 PM
#4618
Originally Posted by nztx
The 2nd last line of the NZX announcement - "Bright has a 39.0% shareholding in Synlait and four Board seats"
Board clearly under the control of Bright - 7 directors and 4 are from Bright. Never really understood why no A2 appointed directors? Are they driving the exclusive supply disagreement between Synlait and A2?
I would agree that Bright have a plan here, very patient. Presumably they have a plan B if shareholder vote goes against the Bright loan.
This will become a case study in the future once all of this has worked through.........likely on so many facets of business - governance, management, BCorp, acquisitions, plant expansions, more governance, lack of governance.....
Clearly Synlait are rubbish at alot of things, but not their website - Ruth already gone and replaced by Leon!! https://www.synlait.com/people/
Last edited by Sideshow Bob; 04-06-2024 at 09:53 PM.
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04-06-2024, 10:08 PM
#4619
Member
Originally Posted by nztx
Not the first Board to conclude that skills needed to be an MP are not those required to run a company.
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04-06-2024, 10:19 PM
#4620
Originally Posted by kiwikeith
Not the first Board to conclude that skills needed to be an MP are not those required to run a company.
Only taken 20 years!!
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