rising price and volume on nzx, page-15

There still seems to be a reluctance among many posters to acknowledge the strong possibility that NZOG will either arrange a merger with PPP or else launch a takeover.

Now Dargie pointed out the other day that PPP was using up all its Australian franking credits and raised the question "why?".
The obvious inference in his view was that it used them up and cleared the decks because they would be lost in a takeover.

Now with the dividend to be paid out on 26th June that would clear that out of the way and a merger or a takeover could be undertaken after that and be completed (probably) before any drilling of the Tui nearby targets gets underway.

You could interpret the earlier purchase of the 15% as a pre-emptive strike to prevent any other takeover attempts by any other company.
Then a delay while other options were being assessed and consideration of how much money might be required to purchase them compared to how much might be needed to complete an acquisition of PPP.

Presumably it would be mainly a scrip purchase with some cash but NZOG would still have to weigh up its choices if it has other options in its sights.

According to one source at least one option has been seriously looked at but there is a reluctance to pay the price being asked. Playing a waiting game perhaps to see if finacial pressures will bring a lower price.

So the next three or four months should be interesting one way or another.