KFL - discount to diluted NAV

[Ttops]

quote:Originally posted by shasta

The fisher group blocking stakes are one of the main reasons i will continue to hold KFL, especially in this climate where a falling NZD coincides with the cashed up aussie predators hovering over some of our best performing, well managed companies.

All of those companies mentioned appear "well managed" & performing well & are likely on the aussies radar.

Im watching & looking at buying into RBC purely for the play on Tenon, by one of the parties already with a blocking stake in RBC.

I like having an interest in at least one company where a play is in progress or likely to occur

Aptly put Shasta

I suspect the Diluted NAV release to be about 1.45 tomorrow. If so,then still at a discount at 1.39 And Another reason to hold:the warrants still have good demand at 40c

Treetops

[Phaedrus]

Those of you lucky/wise enough to have steered clear of KFL for well over 2 years, and lucky/wise enough to have bought a few months ago, have done well. Good on you!

Managed funds provide a good vehicle for those that are unwilling or unable to make their own selection/timing investment decisions. Such people are not actively buying or selling KFL - they are in for the long haul. Since its inception, the overall performance of KFL has been mediocre.

[shasta]

That largely describes me Phaedrus.

I am a recent KFL holder who has benefited from its recent run, though im not in this long term.

I simply saw an opportunity to buy at a discount at a time where things started to move upwards.

As soon as the fundamentals change or the charts suggest weakness, im out!

Does anyone have a link/reference to where i can find how many shares/or actual $ amount KFL have in there portfolio stocks.

I see approx 70% of SOE Convertible Note holders have accepted the $1.55 on offer.

The KFL 2006 Annual Report discloses a $6k unrealised loss. Im picking the offer is good enough to wipe out the loss, but how much do they have invested?

Thanks in advance

[Ttops]

quote:Originally posted by Phaedrus

Those of you lucky/wise enough to have steered clear of KFL for well over 2 years, and lucky/wise enough to have bought a few months ago, have done well. Good on you!

Managed funds provide a good vehicle for those that are unwilling or unable to make their own selection/timing investment decisions. Such people are not actively buying or selling KFL - they are in for the long haul. Since its inception, the overall performance of KFL has been mediocre.

Thanks Phaedrus
I was lucky and wise. I simply used the charts on the KFL websites.
A new one today. http://www.kingfishlimited.co.nz/reports.htm

I watched it for two years including Salvus SAM That is definitely sub mediocre!

Actually think Shasta should be out. There is some definite weakness in the Warrants depth and is a signal for traders. Also some big/smart? money getting out this morning of KFL $600k. I would not be surprised that warrant holders are taking profits. Down up to 10% from its high of 40c yesterday The difference between the surge in KFL + KFLWA in Dec 2004 and this one in Feb2006 is the NAV justified it. I think you can see why I got in in December2005 as the gap between NAV and shareprice had increased. Worth a look even for a trader!

As for me I'm watching and learning.
Treetops

[Ttops]

quote:Originally posted by shasta

That largely describes me Phaedrus.

I am a recent KFL holder who has benefited from its recent run, though im not in this long term.

I simply saw an opportunity to buy at a discount at a time where things started to move upwards.

As soon as the fundamentals change or the charts suggest weakness, im out!

Does anyone have a link/reference to where i can find how many shares/or actual $ amount KFL have in there portfolio stocks.
I see approx 70% of SOE Convertible Note holders have accepted the $1.55 on offer.

The KFL 2006 Annual Report discloses a $6k unrealised loss. Im picking the offer is good enough to wipe out the loss, but how much do they have invested?

Thanks in advance

The KFL June report mentions RAK and DGL in the nursery which totals 14% at 30 June so can't be much more than 5 and 3% respectively. Less than I hoped.
Are you getting twitchy?

Treetops

[Ttops]

quote:Originally posted by Treetops

quote:Originally posted by shasta

That largely describes me Phaedrus.

I am a recent KFL holder who has benefited from its recent run, though im not in this long term.

I simply saw an opportunity to buy at a discount at a time where things started to move upwards.

As soon as the fundamentals change or the charts suggest weakness, im out!

Does anyone have a link/reference to where i can find how many shares/or actual $ amount KFL have in there portfolio stocks.
I see approx 70% of SOE Convertible Note holders have accepted the $1.55 on offer.

The KFL 2006 Annual Report discloses a $6k unrealised loss. Im picking the offer is good enough to wipe out the loss, but how much do they have invested?

Thanks in advance

The KFL June report mentions RAK and DGL in the nursery which totals 14% at 30 June so can't be much more than 5 and 3% respectively. Less than I hoped.
Are you getting twitchy?

Treetops

KFL
14/07/2006
ALLOT

REL: 1410 HRS Kingfish Limited

ALLOT: KFL: Issue of 450,000 Ordinary Shares

ISSUE OF SECURITIES
The following information is provided in accordance with Listing Rule 7.12.1

a) Class of security: Ordinary Shares

ISIN: NZ KFLE0001S0

b) Number of ordinary shares issued: 450,000 (from
Treasury Stock)
c) Issue Price: $1.3615

d) Payment: Cash

e) Amount paid up: fully paid up

f) Percentage of the total class of securities 0.75%
issued ( after the issue)
g) Reason for the issue: Transfer of Treasury Stock

h) Specific authority for the issue: Directors
resolution and in accordance with Listing Rule 7.3.5
Fisher Funds Management Limited

i) Terms or conditions of the issue The shares rank pari
passu with existing ordinary shares

j) Total number of ordinary shares in 59,645,509
existence after the issue:

k) N/A

l) Date of issue: 14 July 2006

________________________
Robert L Challinor - Chairman
Kingfish Limited
End CA:00134071 For:KFL Type:ALLOT Time:2006-07-14:14:10:15

A positive sale afterall of treasury stock bought from sellers recently at 1.22 to 1.25 ? A profit of 11% if that is from the buyback. Who is the smart money? Surely they expect a discount and they got none and this could mean they see value in KFL vis a vis the possible takeovers in its key shares? Or is it too difficult to buy a big chunk in one go and not a lot of sellers.

Finished on low volume at 1.36 a 5.5% disc to dil NAV

Treetops

[shasta]

Treetops, i dont have any warrants & am still in KFL at the moment, though looking for my next target.

Re SOE Convertible Notes, i just know KFL has some money coming from SOE, NZX & WAM, & will also be looking to park it somewhere.

Was trying to establish exactly how much they have available, thats all.

[Ttops]

quote:Originally posted by shasta

Treetops, i dont have any warrants & am still in KFL at the moment, though looking for my next target.

Re SOE Convertible Notes, i just know KFL has some money coming from SOE, NZX & WAM, & will also be looking to park it somewhere.

Was trying to establish exactly how much they have available, thats all.

Watch the warrants as they gave an early warning of the fall last time.
TT

[Rif-Raf]

While one can invest in the underlying stocks without having to invest through a "managed fund", would all punters have made the same stock selections and purchased/sold at the same times and price.
Nobody is infallible, but these guys are have certainly got things right in the last 12 months...

[Toddy]

I'm always weary of funds like KFL. Why, because if they are purchasing midcap stocks with limited liquidity then by definition the stock price is going to go up as they load up on the stock (unless there is a just as big seller out there). This would lead to a higher NAV.