PGC looks peachy, see

[rotsevni]

Might be sticking my neck out early, but oscillators look hopeful.

[Steve]

quote:Originally posted by rotsevni

Might be sticking my neck out early, but oscillators look hopeful.



Which oscillators do you use? Can you post a chart?

Ta

[rotsevni]

For what it's worth (since I am fairly new at this) I look at OBV, DMI and Stochastic mostly. One of the things I liked about the PGC chart when I started this thread is that all three told the same story (usually there seems to be less agreement than this). I'd be happy to post a chart if I could figure out how. I've asked on a few threads but, received no answers (although I'm constantly checking to see when one it posted). I figure that either I need to use a newsreader to access this group or I need to achieve a more elevated status before I'm allowed, Or I just need ejucatin'. Not sure which??

[Phaedrus]

Rotsevni,
Instructions on how to post a chart :-
http://www.sharetrader.co.nz/topic.asp?TOPIC_ID=20654

[rotsevni]

Thanks Phaedrus, how did I know it would be you who'd come to help :)

[rotsevni]

quote:Originally posted by Steve


quote:Originally posted by rotsevni

Might be sticking my neck out early, but oscillators look hopeful.



Which oscillators do you use? Can you post a chart?

Ta




I will try... hope the picture appears below...
http://www.villagephotos.com/members/imagetools.asp?id_=11662603

If it does, you will see I added MACD as well, since the Stochastic tends to be a bit fickle. I hav also put question marks beside tentative signals (ie: the move has come from a level which is above the valid trigger point of say 20 for Stoch, 19 for DMI and negative for MACD. The OBV looks good, but as I said, this is a bit early. An coaching from more experienced TA posters warmly welcome.

[rotsevni]

I can't see it, can you?
Followed Phaedrus instructions to the letter??

[rotsevni]

Worked this time (curious...)
http://img.villagephotos.com/p/2005-2/949184/PGC1.JPG

[Paper Tiger]

PGC: Stand in the market

Macquarie want to buy 10% at $5.00


quote:
PGC
17/03/2005
STAND

REL: 0952 HRS Pyne Gould Corporation Limited

STAND: PGC: Request for use of Special Order Facility

NZX Market Information Services

Request for use of Special Order Facility

Dear Sir/madam,

This letter is to advise NZX that Macquarie Equities New Zealand Limited has
received instructions to acquire 9,786,675 ordinary shares in Pyne Gould
Corporation Limited. This instruction is conditional (subject to our
client's discretion) on the order being completed within two days, and
accordingly we seek to use a special order facility for acquiring the shares.
Our client reserves the right to accept a lesser amount if 9,786,675
ordinary shares is not reached within two days.

We provide the following details in relation to the use of the facility:

i) Name of Issuer:
Pyne Gould Corporation Limited ("PGC")

ii) Class of Equity Security:
Ordinary shares (PGC.NZ)

iii) Number of Equity Securities (or percentage of issued capital)
to be acquired:
9,786,675 ordinary shares

iv) The Price of the offer is NZ$5.00 per PGC share cum dividend

v) Period for which that the special order facility will remain open:

The facility will commence from 10.50am on Thursday 17 March 2005 and
will remain open until the NZX is advised that the purchase order is complete
or the close of business on Friday 18 March 2005 whichever is the earlier is
reached. We reserve the right to extend the bid period at our discretion.

vi) Details of the acceptance process:

This purchase order is conditional on 9,786,675 shares being offered
into the facility for purchase. However if offers are received for less than
this number of shares this condition may be waived and the purchaser may
chose to accept a lesser number in which case sell orders placed into the
facility would be accepted on a pro rata basis.

vii) Details of any price escalation or other condition of the
offer to which the facility relates:

None
End CA:00112926 For:PGC Type:STAND Time:2005-03-17:09:52:52

[k1w1]

Oh yes. I remember telling Macdunk that PGC ( I hold) was better than PGG ( I sold, he holds) .

Though I thought I may have to wait for some ALF action before I could say "you talked to the wrong tea lady, bonny laddie!"

Should I also post this on the "Macdunk got it wrong thread" ?

[KJ]

It will be interesting to see who the buyer is.Have sold half....watching, as will probably sell balance.

[Paper Tiger]

So far they have been offered 107,000.
Not looking good for them.

[Bling_Bling]

Most of the shares are going through at higher prices. I dont think Macquarie is gonna get what they want. Not even close. This will be interesting.

Anyone have a valuation on PGC?

disc: Shareholder of PGC

[duncan macgregor]

KIWI, You dont need to fill up the macdunk got it wrong thread, i am quite able to do that myself. The fat lady is still tuning up in the agriculture sector still a lot of water to flow under the bridge before we count the winnings. cheers macdunk

[Bling_Bling]

Macquarie now has an escalation clause in there to entice the sellers to sell to them. It doesnt seem to be working, especially when there is a nice 7 cents div in it.

[Paper Tiger]

Oh I don't know. I think they got less than 200,000 yesterday and they have over 800,000 already today.
So a little less than 9 million to go. [:0]
I think the main change since yesterday was the promise to buy those offered even if they do not make their target.

[Bling_Bling]

I wonder who is the buyer and why they want only 10% of the company?

[Paper Tiger]

quote:Originally posted by Bling_Bling

I wonder who is the buyer and why they want only 10% of the company?

BB surely you know why they want 10% [?]

[Bling_Bling]

Paper Tiger [?][?] I no understand how I would know.[?]

[k1w1]

Bling, its a blocking shareholding large enough to prevent a compulsory acquisition as per Toll in Owens blocking MFT , and nsto's in Tranzrail blocking MFT

[Paper Tiger]

There is a one day extension to the stand, the price being $4.93 as PGC goes 7cps ex-div tonight. Given the reponse so far 1,095,000 today and less than 200,000 yesterday then the price needs to go up if whoever wants his 10%.

[Bling_Bling]

quote:Originally posted by k1w1

Bling, its a blocking shareholding large enough to prevent a compulsory acquisition as per Toll in Owens blocking MFT , and nsto's in Tranzrail blocking MFT


I dont think there will be a full takeover unless there is another buyer hidden in the background ready to pounce. If there was another buyer, they would have shown their hands by now. I also dont think the mystery buyer wants full control, or they would have made a full offer and not just 10%. But then I maybe wrong.:)

Paper Tiger, it looks like they will have to pay up. The market is telling them that PGC is worth more. The finance and primary sector is doing very well. Also I hear that PGG is looking to enter the North Island market to compete with WRI. Also what value do we put on PGG/PGC when PGG and RDI (Fonterra) merges?:)

Yes, Bling Bling have been doing some due diligence on his own.Farmer friends are good mates. :D

[Bling_Bling]

Macquarie have pulled out their stand in the market and the share price is going up? Who is buying so many PGC shares on the market?

[Paper Tiger]

BB you do ask some strange questions ;)

PGC is trading at the same price as yesterday $4.95. The buyers are those that believe there is more action to come, maybe even the people behind the stand?

[Bling_Bling]

PT, so you believe there could be more action in the back ground? Maybe a bigger player looking to get majority shareholding of PGG by buying PGC?

[Paper Tiger]

I did not say that.
But someone was willing to bet $50M that there was.
Disc: It was not me.

[Bling_Bling]

This is getting more interesting everyday. The person was not successful at getting the 10%, so he did not spend $50M after all. It does make sense if someone wants control of PGG, they would buy PGC to do so. If someone went straight for full control of PGG, then PGC should also benefit. I am surprise Fonterra has not made the move. They must be busy with the Aussie deal.

Anyway, Bling is a happy holder.

[Bling_Bling]

PGC is up to $5.00 ex dividend 7 cents. Looks like someone else wants a large holding in PGC. It does make sense.

[Bling_Bling]

Waikato stock agents give PGG North Island foothold
30 March 2005

South Island rural servicing company Pyne Gould Guinness (PGG) has employed 10 stock agents in the Waikato, formalising plans to move into the North Island.

PGG chief executive Hugh Martyn said yesterday the 10 agents were previously employed by Williams and Kettle (W&K) but were offered jobs with PGG after W& was taken over by Wrightson.

PGG has previously signalled its intention to move into the North Island but was out-bid by Wrightson in last year's takeover battle for listed Hawkes Bay stock and station company W&K.

"We have always made it clear we see the North Island target market as an opportunity," Mr Martyn said.

The new PGG agents were still working out their resignation notice with Williams and Kettle and Mr Martyn said other than a support structure for those staff, there were no other immediate North Island investment plans.

The agents would service Waikato dairy farmers and Mr Martyn said their personal relationship with their farmer clients, the level of service offered, plus farmers wanting to deal with companies other than Wrightson, would provide PGG with a client base.

Over time, PGG would look at the merits of providing its other rural services, finance, insurance, wool, irrigation and pumping, real estate, seed and rural supplies, to North Island clients.

Stock and station companies have to become shareholders in saleyard companies in order to use them, and Mr Martyn said that issue still had to be addressed.

PGG already runs a turf operation in Auckland and a horticultural supply company with field staff in Hastings, but this was the first foray into the North Island livestock business.

[k1w1]

quote:Originally posted by Bling_Bling

Waikato stock agents give PGG North Island foothold
30 March 2005

The new PGG agents were still working out their resignation notice with Williams and Kettle and Mr Martyn said other than a support structure for those staff, there were no other immediate North Island investment plans.

Stock and station companies have to become shareholders in saleyard companies in order to use them, and Mr Martyn said that issue still had to be addressed.



How do 10 agents do their job unless they have access to all the items that a farmer requires. Truck it up from Canterbury ? Don't think so. This and the saleyard issue could both be addressed by a JV with RD1 and Allied Farmers.

[Bling_Bling]

It seems like a JV with RD1 is more likely. Maybe Fonterra buying a large shareholding in PGC to obtain control and then merging RD1 into PGG?