Hi Astro,
I am in a similar position to you. My 2 cents worth is actually worth quite a bit. Having said this, I am not an expert and the last person to give financial advice.
I have already voted amd voted no. I would have held off for the NBT but at the time was unaware of their strategy in terms of voting.
This is my humble and unauthorised view. I voted no because i am of the belief that the administrator will sell the assets for more than we are currently being offered. Years ago, i invested in HWE which went into admin. We were told at the time that we would get nothing. I didnt even know what assets they had. Several years later, i am advised by the administrator that we will get about 17c per share which to me was a fabulous outcome for a company that had already been written off 100% by the taxman. It last traded inthe 50s, but its position at the time seemed a lot worse that NXs. The difference is we have great assets.
My amateur opinion is that 7 will do nothing, it will get voted down and then 7 will desperately try and cut a better deal before nXs call the receivers. Like I said, i am not an expert on authority, but I do not believe that 7 will just give up and walk away on assets that are selling for a song. Others may also move quickly resulting in a bidding war.
If 7 dont do this, i am quite confident I will get at least 2c per share from the administrators. Dont forget also that any losses are a tax write off (seek your own advice on this and anything else I say).
There is no way I Will succumb to 2 cents a share. They are playing high stakes poker and in my view are bluffing. I simply do not believe they will walk away. If they do, someone else will give me 2 cents a share or more and if I am completely and totally wrong i have a larger tax wrote off so I get back 40% or so of my additional loss through a capital loss.
You pose a grest question, and i am sure NBT have a strategy and i suspect it doesnt involve rolling over and giving the company away for 2 cents. I would be curious to hear what others have to say about this.
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Last
20.0¢ |
Change
-0.025(11.1%) |
Mkt cap ! $58.43M |
Open | High | Low | Value | Volume |
22.0¢ | 22.0¢ | 19.0¢ | $39.77K | 195.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 29999 | 20.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
21.0¢ | 30000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 29999 | 0.200 |
2 | 30000 | 0.195 |
2 | 18741 | 0.190 |
2 | 55180 | 0.185 |
4 | 78678 | 0.180 |
Price($) | Vol. | No. |
---|---|---|
0.210 | 30000 | 1 |
0.220 | 36214 | 1 |
0.225 | 4444 | 1 |
0.240 | 12000 | 2 |
0.250 | 29490 | 3 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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