I have argued here for some time that NZO should either make a decent offer for PPP or otherwise eff off.
I interpret the following statement from today's NZO HY that no appropriate offer will come through:
"We are determined to build further value for our shareholders and we will not be taking undue risk or overpaying for any investment."
Hopefully Tomkinson/Prudence will now take the hint and embark on the long talked about (but properly never actually intended) acquisition route and start creating value for PPP holders and disregard NZO.
PPP Price at posting:
28.5¢ Sentiment: Hold Disclosure: Not Held