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	<title>Kelvin Hartnall &#187; The Market</title>
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    <title>Kelvin Hartnall</title>
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		<title>Insider Trading?</title>
		<link>http://www.hartnall.com/2009/07/insider-trading/</link>
		<comments>http://www.hartnall.com/2009/07/insider-trading/#comments</comments>
		<pubDate>Wed, 22 Jul 2009 07:04:56 +0000</pubDate>
		<dc:creator>Kelvin Hartnall</dc:creator>
				<category><![CDATA[The Market]]></category>

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		<description><![CDATA[I recently read Darren Rickard’s <a href="http://shareinvestornz.blogspot.com/2009/07/insider-trading-on-sky-city-shares.html">thoughts</a> on pre-announcement trading of SKC.  It is always difficult to know whether a share-price rise prior to an announcement is due to focus on that particular equity or other sentiment factors, or whether it is due to insider trading.]]></description>
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		<slash:comments>2</slash:comments>
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		<title>Freightways SPP Oversubscribed</title>
		<link>http://www.hartnall.com/2009/05/freightways-spp-over-subscribed/</link>
		<comments>http://www.hartnall.com/2009/05/freightways-spp-over-subscribed/#comments</comments>
		<pubDate>Fri, 29 May 2009 05:41:45 +0000</pubDate>
		<dc:creator>Kelvin Hartnall</dc:creator>
				<category><![CDATA[The Market]]></category>

		<guid isPermaLink="false">http://www.hartnall.com/?p=367</guid>
		<description><![CDATA[Freightways recently raised $45,000,000 capital in a placement to institutions at a significant discount to the market price.  They also offered non-institutional investors a Share Purchase Plan (SPP) at the same price, limited to an aggregate of $5,000,000.  Each small investor was allowed to subscribe for a total of $12,500 worth of shares at the same placement price.]]></description>
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		<slash:comments>3</slash:comments>
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		<title>Fisher &amp; Paykel Rights Issue Calculator</title>
		<link>http://www.hartnall.com/2009/05/fisher-paykel-rights-issue-calculator/</link>
		<comments>http://www.hartnall.com/2009/05/fisher-paykel-rights-issue-calculator/#comments</comments>
		<pubDate>Wed, 27 May 2009 09:45:10 +0000</pubDate>
		<dc:creator>Kelvin Hartnall</dc:creator>
				<category><![CDATA[The Market]]></category>

		<guid isPermaLink="false">http://www.hartnall.com/?p=336</guid>
		<description><![CDATA[Fisher &#038; Paykel Appliances (FPA) have recently announced a capital raising involving both an issue of shares to a strategic partner (Haier) as well as a fully underwritten renounceable rights issue.  When calculating the value of the right, it is important to note that there are three stages to the capital raising.]]></description>
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		<slash:comments>9</slash:comments>
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		<title>Investor Relations</title>
		<link>http://www.hartnall.com/2009/04/investor-relations/</link>
		<comments>http://www.hartnall.com/2009/04/investor-relations/#comments</comments>
		<pubDate>Sun, 26 Apr 2009 20:38:25 +0000</pubDate>
		<dc:creator>Kelvin Hartnall</dc:creator>
				<category><![CDATA[The Market]]></category>

		<guid isPermaLink="false">http://www.hartnall.com/?p=298</guid>
		<description><![CDATA[It appears that a number of New Zealand NZX listed companies do not put much importance on investor relations.  Investor relations encompass the communication between the company and its shareholders.  Some of this communication is mandatory such as the audited financial statements that are required by statute (e.g. Companies Act 1993 and Financial Reporting Act 1993) as well as the NZX listing rules.]]></description>
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		<slash:comments>2</slash:comments>
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		<title>Nuplex Rights Issue Calculator</title>
		<link>http://www.hartnall.com/2009/03/nuplex-rights-issue-calculator/</link>
		<comments>http://www.hartnall.com/2009/03/nuplex-rights-issue-calculator/#comments</comments>
		<pubDate>Sun, 22 Mar 2009 00:58:21 +0000</pubDate>
		<dc:creator>Kelvin Hartnall</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[The Market]]></category>

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		<description><![CDATA[Nuplex (NPX) is an NZE listed equity.  On Friday 20th March they announced a 7 for 1 rights-issue with the issue price being 23 cents per share.  The shares will start trading ex-rights on 26 March and the rights will be tradable from the 2nd April.]]></description>
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		<slash:comments>4</slash:comments>
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