Forum Archive Index - July 2001

[Paul.Menneer@sealedair.com]

Couldn't agree with you more Phil. LNN are unlikely to sell the shares to
ALLD for example.
I am unclear as to why the defaulter can nominate who they want to sell to.
Normal practice surely should be for an outside party to determine who they
should be sold to. Perhaps by tender or similar. How can the situation as
you outline be prevented from happening under the current ruling.
Especially with a counter offer @ $5.50 already on the table although a
ruling is still under consideration on that.

I see MON as a well managed company with sound long-term prospects. It has,
and I hope will continue to be, a great flag bearer for our fledgling wine
industry. Strategically ALLD are probably the better company for MON but
LNN have the upper hand. LNN have always said that they were not interested
in owning 100% and this 2 tiered offer reinforces that position in my mind.
This whole offer seems to be designed to simply gain back majority
ownership (ie between 50 and 60%) and the second part of the offer is to
comply with the new law.

Unless Villa Maria goes public, investors have no other opportunity to list
in a significant pure play wine company in New Zealand. For an industry
with so much promise  and an exciting future this is a missed opportunity
for the NZ investor.

I am waiting to see how this pans out but, unfortunately, I see the future
as majority ownership under foreign control, Lion's - Chinese losses and
all.

Paul Menneer
(Disc: Hold MON - I thought for the long term and BRL HARDY as an
alternative pureplay wine investment).
PS - interesting article in yesterdays Sunday Star Times.





"Philip Robinson" <pcr@ihug.co.nz>@sharechat.co.nz on 09/07/2001 10:50:58

Please respond to sharechat@sharechat.co.nz

Sent by:  owner-sharechat@sharechat.co.nz


To:   <sharechat@sharechat.co.nz>
cc:

Subject:  [sharechat] Montana Group



I have been following this and I was thinking that  although LNN are not
allowed to sell to a "associated" party or have any  agreement, it would
seem like bad management not to choose a "mate" and sell to  them, with a
wink and a nudge and then buy them back, I fail to see how anyone  can stop
this from happening which really means Allied have lost whatever they  do,
and the panel keeps on giving them restrictions, although they sort of
asked  for them by trying to play silly buggers with the new code.

I would be interested in comments about how people  think it will work out,
as new code and determined bidders.

Phil
(don't have any LNN, MON or  ALLD)




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