Agl paying 1.60 for 27.5 % of QGC. From this money they are buying back up to 14 % of qgc stock at 1.52.
Something like that.
So only some shares can be sold by shareholders. As I said this is a crap deal for shareholders short term, only good longterm. 2011-2012 was mentioned as this was when the PNG line was coming on line.
That sentient thing is dodgy. At meeting Cottee said it was in hindsight a bad decision. Sentient is run by the current QGC directors from what they were saying this morning. Nice fat payout.
Hows this for funny.
When the Chairman asked his secretary how many shares he owned . He mentioned a 2-3 million. The secretary replied 15 million. What do they say about growing on trees.
When a question was raised about dividends the chairman stated Dividends are stupid . You want capital gains. Their was a general moan from the grey brigade. LOL
QGC
queensland gas company limited
