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CZZ, CAPILANO HONEY LIMITED
blacksheep
post Posted: Nov 7 2018, 02:23 PM
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In Reply To: blacksheep's post @ Nov 2 2018, 10:58 AM

Capilano Scheme of Arrangement
QUOTE
Bega Cheese Limited (Bega Cheese) has assessed its current 15.6% shareholding in Capilano Honey Limited
(Capilano) and, in the absence of a superior proposal, Bega Cheese intends to vote in favour of the Capilano
scheme of arrangement under which Bravo BidCo Pty Ltd will acquire 100% of the shares in Capilano. Bega
Cheese intends to receive the cash consideration under the scheme, which as announced by Capilano on 2
November 2018 has been increased to $21.00 per Capilano share.

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 2 2018, 10:58 AM
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Capilano Receives Improved Offer from the Consortium and Provides Supplementary Disclosure
QUOTE
Capilano Honey Limited (ASX:CZZ) (Capilano) is pleased to announce that Wattle Hill RHC Fund 1 and ROC Capital Pty
Limited (the Consortium) have agreed to increase the Cash Consideration from $20.06 to $21.00 under the proposed
scheme of arrangement between Capilano and its shareholders, under which it is proposed that Bravo BidCo Pty
Limited (BidCo), an entity owned by Bravo HoldCo Pty Limited (HoldCo) which is indirectly owned by the Consortium,
will acquire 100% of the shares in Capilano (Scheme).

If the Scheme is approved and implemented, Capilano Shareholders will receive the following (based on their choice
made prior to the Election Time):

ï‚· Cash Consideration: cash of $21.00 per Capilano Share in respect of all of their Capilano Shares held as at the
Scheme Record Date; or

 Scrip Consideration: there is no change to the Scrip Consideration – 1 HoldCo Share for each Capilano Share
they hold as at the Scheme Record Date; and

 HoldCo Share Offer: there is an increase to the subscription price – if they have elected to receive the Scrip
Consideration, an additional right to subscribe for 0.5 HoldCo Shares for each Capilano Share they hold as at
the Scheme Record Date at the Increased Subscription Price of $21.00 cash per HoldCo Share.

Following approval by the Federal Court of Australia today, Capilano has released the attached Supplementary
Disclosure to update Capilano shareholders on details of the improved offer as described above and amendments to
the Scheme.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
early birds
post Posted: Sep 4 2018, 09:41 AM
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In Reply To: nipper's post @ Sep 3 2018, 11:15 AM

I'm a Leatherwood guy!
============
tongue.gif
take manuka from Tasie , isn't too bad . [i got it from a farmer} tongue.gif

bloody CZZ going to be take over or going private , other wise we could see it's sp diving to under 10bucks mark.



 
nipper
post Posted: Sep 3 2018, 11:15 AM
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And now, an investigation
https://www.theage.com.au/business/consumer...827-p5000u.html
QUOTE
Australia’s biggest listed honey company and some of the country’s largest supermarket chains face accusations of selling fake honey.

Testing at a leading international scientific lab that specialises in honey fraud detection has found almost half the samples selected from supermarket shelves was “adulterated”, meaning it had been mixed with other substances. The adulterated samples were all products that blend local and imported honey.

Capilano’s Allowrie branded Mixed Blossom Honey, which sources honey from Australia and overseas, and markets itself as 100 per cent honey, showed up as “adulterated” in the majority of samples tested....
- despite noticing CZZ, and it's dominance on supermarket shelves, anything in plastic and "easy pour" is going to be heated and thus broken down. There's a shortage, the top notch stuff commands a premium and likely to be exported.

Best to purchase a product produced locally, with a bit of provenance, and one that candies over time. I'm a Leatherwood guy!




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 31 2018, 10:58 PM
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QUOTE
Some late Friday buying at takeover target Capilano Honey is causing a stir.

Stockbroker Canaccord Genuity was in the market on behalf of a buyer - understood to be $1.5 billion cheese company Bega - and willing to pay $21 a share.

The broker crossed one line of 200,000 shares - worth about 2 per cent of Capilano's issued equity, at $21 - and fund managers reckon there was demand for much more...
T/O offer is in at $20.06.... so ??



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 14 2018, 03:04 PM
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In Reply To: nipper's post @ Aug 13 2018, 08:44 AM

StreetTalk reports
QUOTE
Canaccord Genuity analysts have outlined three reasons why there may be another bid for ASX-listed Capilano Honey.

"We think there is a reasonable likelihood of a competing bid for the following reasons," the broker told clients on Tuesday morning, in reaction to Wattle Hill and ROC Capital's $20.06 a share offer made yesterday.

"(i) the valuation implied by the offer isn't compelling based on the financial results released and leaves the door open in our view;

"(ii) CZZ commands approximately 65-70% market share, is an iconic food brand and is likely to attract further interest;

"(iii) We believe there is hidden value in the inventory, which the company has been building in recent years and is currently sitting at $51m. We believe CZZ is carrying excess inventory worth $2.60-$3.00 per share."


Canaccord have been known to get their valuations wrong, so DYO
https://www.shortman.com.au/stock?q=czz


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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


nipper
post Posted: Aug 13 2018, 08:44 AM
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QUOTE
Roc Partners and Wattle Hill have formed a consortium to bid for ASX-listed Capilano Honey, Street Talk can reveal.

The $20.06 a share bid values the company at $190 million, and will be executed via a scheme of arrangement.

Roc Partners is a Sydney-based private investment firm, founded by Michael Lukin. Albert Tse-led Wattle Hill is a private equity fund focused on investments in China and Australia.

An announcement is expected on Monday morning.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 16 2018, 02:39 PM
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In Reply To: arty's post @ Feb 16 2018, 12:20 PM

but perhaps not; with other sensitivities as it's a word from Aotearoa



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
arty
post Posted: Feb 16 2018, 12:20 PM
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In Reply To: nipper's post @ Jan 11 2018, 02:47 PM

QUOTE
and the Canberra location of Manuka* !... will we be forced to call it Marnuka?

In the context of growing PC concerns, why not "Womanooka"? or a gender-neutral "Personuka".
Given the political affiliation of the ACT Local Government, I'm surprised that issue hasn't been raised a long time ago.



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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)

Said 'Thanks' for this post: nipper  
 
nipper
post Posted: Jan 11 2018, 02:47 PM
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In Reply To: arty's post @ Jan 10 2018, 10:51 AM

Gloves are off, for right to call it Manuka Honey. NZ vs Tasmania...
....""The opportunity with manuka, it's not just honey on a shelf, it's medicinal, it's pharmaceutical, cosmetic, nutraceutical..""

https://www.google.com.au/amp/amp.abc.net.a...s-claim/9318708

- and the Canberra location of Manuka* !... will we be forced to call it Marnuka?

(*It's a postcode, a commercial area but not a suburb)



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: arty  
 
 


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