UNV (ASX) Ann: TER: Non Binding Indicative Intention

Originally posted by skoonzy: ↑

I think you pretty much summed up my thoughts. Without COVID-19 I was a hard no but the uncertainty was still a bit shit.

With COVID-19 stock prices I decided to see what I could do with the 10 cents now and what I could either get for TER now if the sell price could hold up or hold in the hope they did somehow manage to survive and thrive with some exposure to UNV.

I still think the deal stinks and sucks for UNV holders but I think I can somehow salvage this mess with more certainty than waiting for the post takeover and court case.

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Fair enough. My thoughts too. THe deal stinks. TER mgt and morals stink. I don't want ot be part of TER but i need to take the strategically 'best' option for value.

Currently the index is down another 300 points. No doubt it will bounce again (IMHO dead cat bounce), but 4000 points and below is looking ever so close. We have not yet even seen the virus been resolved, and the mass impact on ALL industries is apparent. This isn't some normal financial crisis, this literally has stopped businesses from even trying to operate. Even during the GFC the implications were huge but people were never physically unable to operate businesses or go out. The impact i think on many livelihoods will be massive, which in turn will affect all discretionary spending and all of us. I think many are still trying to quote the old 'buy when there's blood on the streets' but I don't think we have even seen the height of it.

So for me the 10c cash represents a potential reinvestment into some blue chips in the coming month or two, after all I doubt you will miss out on much by waiting another month as we start to see corporate failures.

The hard part is with manufacturing impacted around the world, I would imagine thermal coal is at risk of not having a rebound this year. The Eskom situation still means UNV is a profitable, well run business, albeit in the short run there is uncertainty on the 'dividend'. Without TER in the picture we would hold as we always have, as it will come strong. Albeit now we run the risk of uncertainty as to what a 66% holding in TER means for running the company, dividend decisions, and unforseen pleasantries.

I wish everyone the best luck. I have about 2 hours until i decide to sign and photograph/scan it back for now, as I cant leave quarantine to mail. It will be a tough decision to make.But if you have the spare cash and it is a minor holding I'd be tempted to hold on for the resulting court action. Personally for the reasons outlined above I am leaning towards regrettably settling.

Obviously I have been around here for many years, so it would be with deep regret. It is indeed crazy times indeed.

On another note, at least we are not afterpay shareholders... crazy times.