StockTalk

For quite some time now I have viewed 90 cents as the absolute minimum price I would accept. Ideally I would have liked to see just over $1, or even $1.00. My assessment of future maintainable profit across various business cycles is $4.5m, north of the $4.0m base case in the Simmons report.
$4.5m = EPS of 10 cents per share.
90 cents is a PE of 9.

He's getting it cheap, no argument about that from me and shareholders are also forgoing any dividend for the half year to 30 Sept. However whilst its clear that the business is currently enjoying tailwinds from the Middle East crisis that won't always be the case and when you look at the full trading history of the company since it listed, growth on average in EPS has been very modest. For a microcap with modest EPS growth I think 90 CPS is a tolerable deal.

I note that I can reapply the proceeds to a company with a 60+ year history of trading on the NZX, that's got a proven 10 year EPS CAGR rate of 15.7%, no debt and trades on only 10.7 times FY27 EPS.
If you don't know what company I'm talking about you obviously don't follow my posts. That company has outstanding growth prospects in Australia and is a well proven and very well respected company. By comparison I am more than happy to reapply 2CC takeover proceeds to more shares in a company who's management has my complete respect and admiration with a vastly superior average growth rate but on very similar metrics.

Its clear the offer will not be increased. I intend to accept the offer in full for my shares.[/color] I'm also pleased this thing is wrapping up one way or the other on 30 September. Its dragged on long enough already and some of the needless bickering going on, including from one who should know better, especially seeing as how much work I put into this, has been really getting on my nerves. It'll be good to get this deal done and dusted and the money in the tin.

Frankly Its been bloody "hard work" but nevertheless rewarding and I am pleased that other shareholders who choose to accept will also likely benefit. I respect everyone still has the right to choose what they want to do but for what its worth, I am confident the 90 cent offer will be a success.

Wife and I intend to accept the new 90 cent offer.
Thanks to Basil,James at Sharetrader,Oliver Mander,and the many others who have given their time in rejecting the 80 cents offer.
Although I have always thought 2CC shares were worth a lot more,when there is a "big" liquidity event one must take advantage of it,whether buying or selling.

90 cents now.

Quote from: Basil on Sep 15, 2026, 08:43 PMI have a very strong opinion about the risks of A.I.

Recent revelations by key senior executives of A.I. companies that A.I. poses a serious existential threat to the human race is something that I find deeply disturbing.  I am sure we have all seen Terminator 3 where A.I. becomes self aware and tries to wipe out the human race.  Maybe its not through nuclear weapons but biological weapons designed by A.I.  Look at the effect Covid had on the world and that was the (accidental ?) release of a human designed bioweapon.

It seems to me that no matter how well meaning any guard rails the American's might be put in place and how effective or ineffective they are, effectively the American's and Chinese are in an "arms race" to see who can develop A.I. to their advantage more quickly in terms of weaponizing A.I. on the battlefield.

We're already seeing A.I. used in drone warfare and we've already seen mass production of humanoid robots in China.   https://www.bing.com/videos/riverview/relatedvideo?q=video+of+chinese+robots&mid=D059C995AF371F5ABEB3D059C995AF371F5ABEB3&churl=https%3a%2f%2fwww.youtube.com%2fchannel%2fUCIzXayRP7-P0ANpq-nD-h5g&FORM=VIRE Unfortunately its only a matter of time before self thinking weaponized robots are used in warfare.

From an ESG perspective I want no part whatsoever in supporting this march towards possible self destruction. To me, investing in data centers is an absolute no go zone.  The risks are arguably FAR greater than  investing in nuclear weapons.  At least they're controlled by humans and we've coexisted for the last 80 years since Hiroshima without world-wide destruction with MAD (mutually assured destruction).

I think Morrisons are too clever for their own good betting the ranch on data center's which have substantial potential to be used as part of the ecosystem for an existential crisis.  Investing in data centers is worse than investing in weapons manufacturers from an ESG perspective in my opinion as the risks are clearly far, far greater.

Maybe the market is starting to wake up to the fact that the speed of advance in this area is not a good thing.  https://www.goodreturns.co.nz/article/the-markets/nzx-50-hits-2-month-low-as-infratil-knocked-by-ai?utm_source=GR&utm_medium=email&utm_campaign=Final+Bell   

Whether that's the case of not I have felt uneasy about A.I. for a long time and recent revelations are deeply concerning so I want no part in supporting this madness.

Interesting that you are concerned about datacentres providing the means of ending humankind, but you seem far less concerned about climate change ending the planet (and humankind). Nor have you ever expressed any concern about the rise of China on the back of getting cheap goods (and cars). Me thinks your concern for humanity is just a re-packaging of your frustration at IFT's continued success.

 IFT upgrade today...... an additional $20 mill  EBIDAF for FY27

https://api.nzx.com/public/announcement/479856/attachment/477025/479856-477025.pdf

CDC is a key contributor to Infratil's earnings growth and has today increased its expected FY27
EBITDAF from a prior range of A$680 million to $720 million, to a new range of A$710 million to
$750 million.

This reflects CDC's confirmation that it has signed another 70MW of contracts, to be
delivered across late FY27 and early FY28, as well as operating cost savings and the delivery of
non-recurring managed services.

CDC now has 350MW of deployed capacity and a total of 1.1GW of contracted capacity that is
expected to deliver A$2.2 billion of EBITDAF when fully deployed.

Given CDC's FY27 guidance update, Infratil has in turn increased its proportionate EBITDAF
guidance for FY27 from a prior range of NZ$1,300 million to 1,400 million, to a new range of
NZ$1,320 million to 1,420 million. Guidance for Infratil's other operating businesses is unchanged.

Full updated Investor presentation here - https://api.nzx.com/public/announcement/479856/attachment/477016/479856-477016.pdf

I would have thought that Sky was a high risk stock with the growing number of platforms available to view entertainment

Ron Gillatt,
Ron left a $60mil estate .
Ron loved his shares,and always attended agms held in Christchurch.
He invested widely but his true love was looking for gems in small cap companies,including those on USX.
Until she died his lovely wife Joan would accompany him to meetings.
A very modest man who was  easy  to talk to,and would share his wisdom with you.
Never asked questions at meetings ,but spent time after the meetings talking to directors.
And yes he was a 2CC shareholder at the time of his death..
 

Yes I also have concerns. Comments by The CEO of anthropic that he is worried that the advancement of AI is going too fast and could take over the internet and humans.

https://www.1news.co.nz/2026/09/14/new-warnings-about-ai-risk-to-humanity-revive-long-running-debate/

Thanks.
Tony's email makes no sense to me.

Part of my email to Tony,

I think your email to shareholders is not in their best interest.
The Simmons independent report is not something a shareholder should be asked to make an investment decision on.
Reread it and ask yourself what an Australian motorcycle dealer and new car dealers have to do with 2CC.
I know a very astute ex private equity investor who told me it was the worst independent report he has ever read.
Why you chose to put your good name to your email beats me.