Forum Archive Index - August 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

Yes, Stockness reports that the final terms of the merger are:

 

1 BCH = 1.56 DAD share + NZ  33.5 cents dividends #

 

# BCH paying out franking credits as part there off.

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The original offer was: 1 BCH + 1.50 DAD ( no extra dividends )

 

Being a shareholder in BCH, in my post of 25 July, I suggested:

 

1 BCH = 1.65 DAD 

 

The problem was that the market pricing strength of DAD was greater than that of BCH and therefore there was no need for DAD to up their offer, which in fact, they did! 

 

The high quality BCH Board therefore managed to extract these extra concessions against the market odds.

 

I am congratulating the BCH Board for the way, they have conducted their negotiations!

 

Mr Keith McLaughlin will be the MD of ' Baycorp Advantage ' ( A very well chosen name ).

 

I think that the meetings to be called will approve of the merger based on these terms.

 

Gerry