Forum Archive Index - April 2004

["Hans Van der Voorn" <vandervoorn@xtra.co.nz>]

----- Original Message ----- 
From: <tennyson@caverock.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, April 08, 2004 12:59 PM
Subject: Re: Re: [sharechat] WRI, why now?


> Hi terry,
> 
> >
> > Hans ,   Hi
> ><<Personally I am happy to remain as a shareholder >>
> > 
> > But what bugs me is that those  49.9 % of shareholders that don't sell
> > are going to subsidize Norgate's purchase of their company. What's in
> > it for them?. Reduced payout because he will be using the cash to pay
> > off His Debts once he has control of the company.
> >  
> 
> As far as payouts are concerned, all shareholders are treated equally.   
> If Norgate dictates that WRI makes a big payout to himself (in respect 
> of his 50.1% holding) then all other shareholders will get the same 
> payout in proportion to the number of shares they own.
> 
> Norgate's debts will be tied up in the RPI vehicle through which he is 
> making the partial takeover offer.   The shareholders who accept the 
> RPI preference shares will be at risk from Noragtes debts.   But 
> shareholders that remain within WRI will have no such risk.
> 

I agree.


Hans
> 
> 


----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/