Forum Archive Index - July 2001

["hugh webber" <hugh.webber@clear.net.nz>]

I thought the consensus in media discussion was that the proposals
involved abolishing the two classes of shares and just having one,
in effect Air NZ A.

----------
> From: Jeremy <jeremy@electrosilk.net>
> To: sharechat@sharechat.co.nz
> Subject: Re: [sharechat] AIR NZ
> Date: Wednesday, 4 July 2001 23:19
> 
> From: <tennyson@caverock.net.nz>
> > > what's to stop them issuing more AIRVB shares ?  A nice cash
> > > injection and an increase in foreign ownership for synergy benefits.
> > >  Sounds pretty good to me.
> > >
> > Because then the company can become majority foreign owned and AIR
> > risk losing their landing rights.  So there is no chance of more B
> > shares being issued.
> 
> The issue is increase in foreign ownership.  This can only occur if the
> ratio of AIRVA to AIRVB shares changes or foreigners can buy AIRVA.
> 
> Blanket rejection of a ratio increase of AIRVB over AIRVA ignores the
> political desire to increase foreign ownership.  This was the premise of
the
> original post : that AIRVA will become desirable when AIRVA can be bought
by
> foreigners.
> 
> I think you will find that nothing is immitigable about the ratio of
AIRVA
> to AIRVB.  The only issue is whether AIRVA becomes open to foreign
ownership
> or AIRVB increases its shares issued.
> 
> The political decision is whether to increase foreign ownership ratios or
> not.  How it is done is a mere technicality.  Either they open AIRVA to
> foreigners and get no cash injection, or they issue more AIRVB and get
more
> cash.  What do you think they will do?
> 
> Jeremy
> 
> 
> 
>
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