Forum Archive Index - March 2001

["Ian Andrews" <iandrews@ihug.co.nz>]

I left after casting my adjournment vote ( in favour ). I felt any insincerity was not confined to Mr Dunphy & Peak. Fletcher's had clearly contrived for a long time to deny shareholders the advantage of a competitive bid.

In the end, Peak's involvement managed to procure another 49 cents per share for Energy shareholders that they would not otherwise have had.I suggest Shell would not have raised their offer if they didn't view Peak as a credible competitor.

Perhaps the "mums & dads" may feel differently, but I felt it was worth the 17 day wait & a small risk to see what transpired. 

Deane is an outstanding Chairman, but he was sticking to a script & some shareholder questions weren't adequately answered even when repeated.  

 

PS

The following caused some amusement at the meeting

Deane's personal control of the lectern light & sound was very effective - twice he was able to swiftly both silence & plunge into darkness a persistent Mr Dunphy when the latter had gone past his alloted time.  "No , Mr Dunphy. I think I would prefer it if you returned to your seat & I'll continue Chairing the meeting".