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RBC, RUBICON LIMITED
plastic
post Posted: May 20 2019, 11:04 AM
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A fraction of a cent off all time lows. If it retouches those lows we have a double bottom. Last time it was this low, some large shareholders sold out. What will happen this time I wonder. If the final Tenon payout has been made there must be little reason for the current vultures to stay in it. So perhaps we will see a large single transaction and then plans to sell/list Arborgen materialize.

But if large shareholders do sell out, then it is because they see little value in Arborgen. Might be why they got it at such a bargain basement price!

Poor old Hughie. His epitaph will not be kind I fear.



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What did Uncle Mel do to us?
 
plastic
post Posted: May 18 2019, 03:26 PM
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The awld dawg Hughie is not a young man. If he died tomorrow what would his legacy be?

From my perspective it would be a steaming stinking POS. He effed up FCL with debt for his forestry and pulp and paper MNC dream. His letter stock holding template for success confused the world and let good performers pay for another's sins.

Now he is at the helm of a ship plotting a course for oblivion.

If he wants a legacy other than a silver spooned, privileged and over educated failure due to slavish adherence to ideology he will have to do something soon.

Prelim due in a couple of weeks.

What happened to the liquidators payout?




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What did Uncle Mel do to us?
 
plastic
post Posted: May 11 2019, 11:35 AM
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Attached File  Tenon.jpg ( 51.17K ) Number of downloads: 0


https://app.companiesoffice.govt.nz/compani...AC8AD85779DD38F

Something must've gone wrong. No final report. No removal from the registry. Unless the Court has granted exemption as in subsection 2 in which case, it hasn't been reported and you would have to wonder if the state is in on the game with the Judiciary providing a bit of oil.

How long is, "as soon as practicable"?

Interim reports to filed soon. Perhaps it will show up there.

http://www.legislation.govt.nz/act/public/.../DLM321914.html

QUOTE
257 Duties in relation to final report and accounts

(1)

As soon as practicable after completing his or her duties in relation to the liquidation, the liquidator of a company must��"

(a) prepare and send to every creditor whose claim has been admitted and every shareholder��"

(i) the final report and statement of realisation and distribution in respect of the liquidation; and

(ii) a statement that��"

(A) all known assets have been disclaimed, or realised, or distributed without realisation; and

(B) all proceeds of realisation have been distributed; and

© the company is ready to be removed from the New Zealand register; and

(iii) a summary of the applicable grounds on which the creditor or shareholder may object to the removal of the company from the New Zealand register under section 321:

(b)send or deliver copies of the documents referred to in paragraph (a) to the Registrar for registration.

(2)

The court may, on the application of a liquidator,��"

(a) exempt the liquidator from compliance with the provisions of subsection (1); or

(b) modify the application of those provisions in relation to the liquidator,��"

on such terms and conditions as the court thinks fit.






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What did Uncle Mel do to us?
 
plastic
post Posted: May 2 2019, 04:17 AM
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You have to wonder why the old dog Hughie won't give up on this bone.



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What did Uncle Mel do to us?
 
plastic
post Posted: Apr 14 2019, 05:15 PM
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Scuttlebutt reckons the reason for Jacinda and Co to ram through the new capital gains tax laws next week is so they can clip Lukie Luke's and Sidekick's latest windfall.



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What did Uncle Mel do to us?
 
plastic
post Posted: Apr 12 2019, 05:01 PM
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Onwards we march to the edge of an abyss which we know not where or when. But my guess is ANZAC(US) Day or thereabouts.

Lukie Luke won't be taking shares unless he knows its a deal and a half. No twenty year wait times for him.






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What did Uncle Mel do to us?
 


plastic
post Posted: Apr 3 2019, 12:28 PM
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Why would Lukie Luke and Sidekick notify markets of their "relevant" interests in the company when they are under the five per cent threshold and are now completely "irrelevant"?

Its another quarter at this rate.





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What did Uncle Mel do to us?
 
plastic
post Posted: Apr 1 2019, 01:54 PM
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New shares issued under s47 of the Companies Act as per below.

Must be why we've been seeing the softness in the price lately. Just happens to be the day Jacinda is in China. Of all the days in a year. What are the chances of that?

Some of us remember the CNIFP and Hughie took a bath on that one too.




QUOTE
47 Consideration to be decided by board

(1)

Before the board of a company issues shares under section 42 or section 44, the board must—

<h5 class="label-para">(a) </h5>decide the consideration for which the shares will be issued and the terms on which they will be issued; and

<h5 class="label-para">(b) </h5>if the shares are to be issued other than for cash, determine the reasonable present cash value of the consideration for the issue; and

<h5 class="label-para">© </h5>resolve that, in its opinion, the consideration for and terms of the issue are fair and reasonable to the company and to all existing shareholders; and

<h5 class="label-para">(d) </h5>if the shares are to be issued other than for cash, resolve that, in its opinion, the present cash value of the consideration to be provided for the issue of the shares is not less than the amount to be credited for the issue of the shares.

(2)

The directors who vote in favour of a resolution required by subsection (1) must sign a certificate—

<h5 class="label-para">(a) </h5>stating the consideration for, and the terms of, the issue; and

<h5 class="label-para">(b) </h5>describing the consideration in sufficient detail to identify it; and

<h5 class="label-para">© </h5>where a present cash value has been determined in accordance with subsection (1)(b), stating that value and the basis for assessing it; and

<h5 class="label-para">(d) </h5>stating that, in their opinion, the consideration for and terms of issue are fair and reasonable to the company and to all existing shareholders; and

<h5 class="label-para">(e) </h5>if the shares are to be issued other than for cash stating that, in their opinion, the present cash value of the consideration to be provided for the issue of the shares is not less than the amount to be credited for the issue of the shares.

(3)

Before shares that have already been issued are credited as fully or partly paid up other than for cash, the board must—

<h5 class="label-para">(a) </h5>determine the reasonable present cash value of the consideration; and

<h5 class="label-para">(b) </h5>resolve that, in its opinion, the present cash value of the consideration is—

<h5 class="label-para">(i) </h5>fair and reasonable to the company and to all existing shareholders; and

<h5 class="label-para">(ii) </h5>not less than the amount to be credited in respect of the shares.

(4)

The directors who vote in favour of a resolution under subsection (3) must sign a certificate—

<h5 class="label-para">(a) </h5>describing the consideration in sufficient detail to identify it; and

<h5 class="label-para">(b) </h5>stating—

<h5 class="label-para">(i) </h5>the present cash value of the consideration and the basis for assessing it; and

<h5 class="label-para">(ii) </h5>that the present cash value of the consideration is fair and reasonable to the company and to all existing shareholders; and

<h5 class="label-para">(iii) </h5>that the present cash value of the consideration is not less than the amount to be credited in respect of the shares.

(5)

The board must deliver a copy of a certificate that complies with subsection (2) or subsection (4) to the Registrar for registration within 10 working days after it is given.

(6)

For the purposes of this section, shares that are or are to be credited as paid up, whether wholly or partly, as part of an arrangement that involves the transfer of property or the provision of services and an exchange of cash or cheques or other negotiable instruments, whether simultaneously or not, must be treated as paid up other than in cash to the value of the property or services.

(7)

A director who fails to comply with subsection (2) or subsection (4) commits an offence and is liable on conviction to the penalty set out in section 373(1).

(8)

Nothing in this section applies to the issue of shares in a company on—

<h5 class="label-para">(a) </h5>the conversion of any convertible financial products; or

<h5 class="label-para">(b) </h5>the exercise of any option to acquire shares in the company.

(9)

If the board of a company fails to comply with subsection (5), every director of the company commits an offence and is liable, on conviction, to the penalty set out in section 374(2).

Section 47(8)(a): amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).







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What did Uncle Mel do to us?
 
plastic
post Posted: Mar 29 2019, 04:38 PM
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Goodness me! Could it be?

The hedged and ambiguous language would suggest she doesn't actually know why she is going for ONE day to China. But it is likely and could be included in and amongst a smorgasboard of subject material but is all yet to be finalized. I mean wtf?

I think there must be something special in either the tea or the biscuit. I'm just trying to figure out which one. If I were to use her language I would say, it might be the tea but equally it could be the biscuit but because tea and biscuits are part of the hospitality package it could also involve coffee and cake . But would cake include cream and jam or are we talking chocolate chips in biscuits which is pretty similar to sugar in your tea if you choose to put it in. And don't forget, if you like milk in either tea or coffee that would be dairy. But at the end, its only tea and a biscuit. Unless you choose the coffee and cake. But coffee and cake isn't finalized yet.

https://www.nzherald.co.nz/business/news/ar...jectid=12217574

QUOTE
Improving access to China for exports of New Zealand wood and paper products are among key areas of focus for Prime Minister Jacinda Ardern in her talks in Beijing next Monday.

Briefing media ahead of her lightning dash to the capital of the country's largest trading partner, Ardern said progressing the upgrade of the 11-year-old free trade agreement with China was among priorities in her meetings with China's two most powerful leaders, President Xi Xinping and Premier Le Keqiang.

She indicated the most productive focus was likely to be on areas where there was not already a phased reduction in barriers to access.

"There are areas on a phased approach that continue to improve over time," she said. Dairy products, accounting for one-third of all New Zealand exports to China, are among those covered by tariff and quota reductions through the early part of the next decade.

"So it's focusing on those areas that may be in addition to that.

"Wood and paper are the kinds of things being debated."

Forestry exports are the second largest source of exports to China, accounting for 23 per cent of the $13.9 billion of total exports to China in 2018.

Ardern said she had had "quite specific discussions with Li in the past and that may happen again". She will lunch with the Premier on the one-day trip, which was cut from a three-city state visit after the Christchurch mosque attacks on March 15.

------------------------------------------------------------------------------------------------

Asked whether she would raise the cyber attacks, Ardern said she hadn't "finalised everything I intend to raise







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What did Uncle Mel do to us?
 
plastic
post Posted: Mar 29 2019, 10:26 AM
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Lukie Luke and Sidekick gone again but with notice this time. Don't know if he is still involved with Arborgen. But looks like the share price will be depressed for a very long time unless they reveal what it is he actually achieved in the twenty years he was there.

Why announce it on the last business day of the quarter and two days before Jacinda travels to China for tea and biscuits.

Next, Hughie.



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What did Uncle Mel do to us?
 
 


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