So basically shareholders are being asked to throw away a free...

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Calaverite13

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01/04/21

10:07

Post #: 52196424
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Originally posted by treefeller: ↑

It seems KPT's $82m "valuation" is considerably inflated. I appreciate that the valuation is independent but the problem is that the land cannot be worth its vacant land value (farming) with the toasted trees on it. As I understand the offer the proponent wants to rehab the land and return it to its original prime farmland. Must be tempting to accept with all the resources needed and no guarantee at all the port will be approved - in fact approval is still looking very sick indeed. Interesting that the Vic govt knocked back an LPG import jetty facilty that AGL had spent $130m on trying to get approval.

30 March 202
Level 24, 200 George St Sydney NSW 2000 Australia
T: +61 2 9921 2999 F: +61 2 9921 2552www.agl.com.au
AGL Energy Limited (AGL) notes the determination by the Victorian Planning Minister in relation to AGL’s proposed liquified natural gas (LNG) import jetty at Crib Point.
The Minister has determined, having regard to the Inquiry and Advisory Committee’s report and the Environment Effects Statement documentation, that the project will have unacceptable environmental effects.
AGL is reviewing and considering its position in relation to the Minister’s determination. An update in relation to the impact on the project will be provided once this assessment is complete.
AGL estimates that total committed or incurred expenditure on the project to date is approximately $130 million, compared with the committed or incurred expenditure of $102 million noted in AGL’s ASX release of 12 June 2018.

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So basically shareholders are being asked to throw away a free option that the wharf gets approved? Seems to me KPT should at the very least wait for the decision.

KPT Price at posting: $1.02 Sentiment: None Disclosure: Held
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