TENON

[willy_wonker]

This baby is going higher. Noticed a large undisclosed buyer at $1.85 this morning.

Will TEN hit $2.00 today?

http://www.stuff.co.nz/stuff/0,2106,2872836a13,00.html

[peterafaj]

An interesting point made by Sir Dryden is that it is difficult to relate value to price of TEN shares because of capital repayments and share consolidations.

Some Jerk from ASB was on Wilson's Breakfast this morning saying TEN was the darling of the sharemarket, and we should gratefully thank GPG, a corporate raider filling their own pockets, for our good fortune.

I hope I can present this in a way that helps to put the current price into some prospective.

If we go back to late October, FFS was around 1.35 and MFT the same. I remember it as I seriously considered switching (and of course I still wish I had)

Lets take 20,000 shares in each owned then.

Our FFS have become TEN and we have received 1.25 per cancelled share. We now own 10,000 TEN shares

20,000 at 1.35 = $27,000 (Initial Stake)

10,000 at 1.85 = $18,500
CASH = $12,500

TOTAL = $31,000 (Value Now)

PROFIT = $ 4,000

(If we still had the 20,000 shares that is equivalent to a 20 cents per share rise or current price $1.55 !!)

20,000 MFT shares at 1.85 today(I added a cent to make maths easy) gives $37,000 or $10,000 profit !

TEN have risen 12.9% whereas MFT are up 37%

Hope this makes sense and helps those who are looking at their average purchase price because that is not a true comparison basis !!

Cheers

Peter

[willy_wonker]

quote:Originally posted by peterafaj

Some Jerk from ASB was on Wilson's Breakfast this morning saying TEN was the darling of the sharemarket, and we should gratefully thank GPG, a corporate raider filling their own pockets, for our good fortune.

That is why he is still working for ASB. ASB dont have any research or a corporate department, so what does he know? GPG stuffed up the last takeover by Citic and looks likely to stuff this one up.

[Range Rover]

quote:Originally posted by peterafaj

Hi Willy Wonker

$2.50...Too Far from Reality !!! On what basis ???

Check the other Tenon tread. Brett Wilkinson values Tenon at 2.11 and this was before the profit upgrade.

No-one really knows the real value, except probably RBC , who are doing a real sucker job of grabbing TENON before the fair value can be established. Just review the establishment of RBC itself. Brian Gaynor wrote it up as almost corrupt in that they transferred assetts at book value into RBC out of FCL and basically ripped off FCL shareholders and within a few months sold these assetts at "Market value", to the benefit of the Directors and RBC shareholders. Would you trust them today ????

Cheers

Peter

[Range Rover]

Before you make allegations about FCL shareholders being ripped off, why don't you get your facts right?

Every Fletcher Challenge Energy shareholder received one Rubicon share for every one Fletcher Challenge Energy share. So, whatever assets were transferred from Fletcher Challenge and at what price is irrelevant. The shareholders were the same people!! A Rubicon shareholder at the time of the Fletcher Challenge separation who remained a shareholder has received the benefit of any asset sales made by Rubicon.

quote:Originally posted by peterafaj

Hi Willy Wonker

$2.50...Too Far from Reality !!! On what basis ???

Check the other Tenon tread. Brett Wilkinson values Tenon at 2.11 and this was before the profit upgrade.

No-one really knows the real value, except probably RBC , who are doing a real sucker job of grabbing TENON before the fair value can be established. Just review the establishment of RBC itself. Brian Gaynor wrote it up as almost corrupt in that they transferred assetts at book value into RBC out of FCL and basically ripped off FCL shareholders and within a few months sold these assetts at "Market value", to the benefit of the Directors and RBC shareholders. Would you trust them today ????

Cheers

Peter

[peterafaj]

AH, we have Range Rover, defender of FCL.

I guess you will tell us that it was fair and just that RBC was given 15% of FFS. Why ? A Job for the boys, as they knew that the other assets would soon be sold.
And what a brilliant strategy it has turned out to be. Totally frustrating the Board of FFS and now doing a reverse takeover to get control.!!
RBC have started the typical GPG dogfight over establishing share value , so as to depress the TEN share price and get as many suckers as possible to sell.

Anyway, as an insider, perhaps you could actually help by assisting readers in determining where in the 2.00 to 2.50 range you value TEN

Cheers

Peter

[willy_wonker]

Closed @ $1.91. Looks like RBC aka GPG aka uncle Scrooge will have to front up or shut up. If RBC wont pay up then others will. There in the bushes lurks another predictor waiting for the opportunity.

WW WHO and what will they pay.

[willy_wonker]

Enigma, I am only stating what was printed in the papers mentioning FBU & CAH may be lurking in the background.

[peterafaj]

That of course is probably the GPG strategy. Bid Low and wait , if others come along then at least they can sell at the higher price and walk away with a tidy profit, if not they have a bargain !

I think GPG has just under the 5% direct holding in TEN as well as the holding in RBC

Cheers

Peter