My view is that MCIF see long term value in this company, and are also there to block any bid MND may be pondering. There is a strong link between the common directors, so MCIF can see intrinsic value. I understand that this is the first investment MCIF have made, out of their 400 million dollar chest in a year.
This co. owes Glen Wallace a lot personally IMO. They need to turn it round and create more long term value before they would exit. (MND offering a premium to the current SP wouldn't fly)
New Zealand remains a major problem, Newpower and Climatec continue to flounder. The new appointment of James Fletcher as Country Manager NZ is a positive, lets see if he can turn things round.
NFK Price at posting:
56.2¢ Sentiment: None Disclosure: Not Held
