Hi JK5
In adding to the views I cited in my earlier post I readily admit to not being an expert. Nor have I been trading / investing directly in shares for very long - excluding TLS1, about 18 months is all! Please view my comments below in that light.
Merger - I held both OXR & ZFX because I believed in the future of both companies. When the terms of the merger were first announced I thought the deal had significantly devalued ZFX - since zinc was on a big downer, whereas copper was peaking, IMO flattering OXR. ZFX's takeover of AGM had also impacted its SP & the market had not really absorbed the announcements about ZFX's new ventures. I nevertheless accept the validity of the information provided in the scheme memorandum etc. IMO both OXR & ZFX SHs should have had to vote in favour for the merger to proceed. What was done is now done & dusted though!
OH vs AM - both have proven performance records & IMO are perceived as having differing strengths. OH was a brilliant public face for OXR - ebulient & seemingly always hitting the public nail on the noggin [on my presumptious assessment of his public persona he is a red-yellow-green extrovert]! AM appears to be more rather more dour, authorative, more broadly experienced, more systematic - methodical [on my assessment of his public persona I would presumptiously say he is a blue-yellow-green extrovert]. FWIW IMO OH would be my choice of OXR's public face but AM should be the hard-nosed CEO to put in all the new structures, processes, etc. I would have a CEO1 & CEO2, with fewer directors!
OH's remuneration - IMO the Prime Minister should be the highest paid person in the land, bar none! Many Aussie battlers earn between $15k & $25k p.a. IMO CEOs, directors etc. should be remunerated between the PM's level & our battlers. IMO no-one should command what I regard as grotesquely obscene remuneration. Nor should Boards of Directors be able to to overule SHs on such matters. FWIW I think OH has given OXR fantastic service & deserves to be well-respected & remunerated in accord with his contract.
Where to from here? It seems a mixture of disgruntled OXR-ZFX SHs are progressively deserting the merged company, the loss of SP has triggered other investors margin calls, further depressing the SP. IMO shorters knew this would happen from previous experiences with mergers & did their bit to help the SP down. My conundrum is whether or not to invest further - OXR already accounts for 40% of my share portfolio [60% of my investments are still in cash].
I'm sure that's more than enough from me, cheers mate!
4YIO - NFA
OXR
oxiana limited
