TRA - Turners Automotive Group [previously TNR - Turners Limited]

[BlackPeter]

always thought they would be a good fit for heartland

Interesting thought ...

[JeremyALD]

Sounds like the sale has more to do with the Green family and settlements, rather than wanting to get out of TRA as such.

https://www.nbr.co.nz/article/hugh-g...family-firms-b

[blackcap]

Milford buys in with 5% and change, who has the other 14%?
Summary for Milford Funds Limited

For this disclosure,--
(a) total number held in class: 3,862,909
(b) total in class: 74,523,527
(c) total percentage held in class: 5.183%

Details of relevant interests
Details for Milford Funds Limited

Nature of relevant interest(s):
Milford NZ Equities Wholesale Fund (1.369%), (Custodian - NNL Custodians),
Milford Active Growth Wholesale Fund (2.808%), (Custodian - NNL Custodians),
Milford Income Wholesale Fund (1.006%), (Custodian - NNL Custodians).
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: Please see
attached.

[Under Surveillance]

Milford buys in with 5% and change, who has the other 14%?
Summary for Milford Funds Limited

For this disclosure,--
(a) total number held in class: 3,862,909
(b) total in class: 74,523,527
(c) total percentage held in class: 5.183%

Details of relevant interests
Details for Milford Funds Limited

Nature of relevant interest(s):
Milford NZ Equities Wholesale Fund (1.369%), (Custodian - NNL Custodians),
Milford Active Growth Wholesale Fund (2.808%), (Custodian - NNL Custodians),
Milford Income Wholesale Fund (1.006%), (Custodian - NNL Custodians).
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: Please see
attached.

The attachment is explicit that Milford bought 2,250,000 of the Green shares. Milford already held 1,612,909, so the purchase ex Green took Milford to the disclosed 3,862,909.

[LAC]

Salt funds got a chunk of it

SPH Notice - Salt Funds Management Limited

4:05pm, 4 Jul 2017 | SHINTR

Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To NZX Limited
and
To Turners Automotive Group Ltd
Date this disclosure made: 4 July 2017
Date on which substantial holding began: 30 June 2017
Substantial product holder(s) giving disclosure
Full name(s): Salt Funds Management Limited
Summary of substantial holding
Class of quoted voting products: Turners Automotive Group Ltd – Ordinary Shares
Summary for Salt Funds Management Limited
For this disclosure,—
(a) total number held in class: 6,169,000
(b) total in class: 74,523,527
(c) total percentage held in class: 8.278%

[blackcap]

The attachment is explicit that Milford bought 2,250,000 of the Green shares. Milford already held 1,612,909, so the purchase ex Green took Milford to the disclosed 3,862,909.

Ahha apologies.. my bad. So there are buyers out there for a few more. Interesting to find out who they are if they come in the next few days, or its possible that a lot of different parties have been allocated shares from broker at 3.35 which would explain short term share price pressure.

[RTM]

http://www.sharechat.co.nz/article/d...ew-recordshtml

Gotta be good news. For HBL as well I guess.

[LAC]

I jumped into this one recently after doing some research on TRA all because I have been in the market for a decent used car but every time a model I was after came on the market it was gone within a week. Visited Turners a few times and the place is buzzing with used car sales, a great one stop shop for finance and mechanical insurance. So I have to agree with the article, the used cars sale market is in a boom at the moment. 4 of the 9 people in my team at work have all upgraded their cars. Autosure are very responsive to emails and calls, I found it difficult to deal with AA so all in all I am liking TRA's future.
A small TRA parcel at the moment but will be looking to increase that in the coming months.

[percy]

Hopefully we will see TRA extend their Buy Right Cars footprint Nationally.

[Beagle]

I jumped into this one recently after doing some research on TRA all because I have been in the market for a decent used car but every time a model I was after came on the market it was gone within a week. Visited Turners a few times and the place is buzzing with used car sales, a great one stop shop for finance and mechanical insurance. So I have to agree with the article, the used cars sale market is in a boom at the moment. 4 of the 9 people in my team at work have all upgraded their cars. Autosure are very responsive to emails and calls, I found it difficult to deal with AA so all in all I am liking TRA's future.
A small TRA parcel at the moment but will be looking to increase that in the coming months.

Confirming what you've said. I've been in the market for a replacement car for my wife aging Honda Civic hybrid. New cars are setting records and late model popular cars seem to be selling very well indeed. Couple I had my eye on were sold from underneath my nose. Had to move very quickly on a 2017 Honda Civic demo as there was a lot of interest in it the day I visited the Honda dealership. By the way, my wife absolutely loves this multi award winning all new 10th generation Honda Civic...picking it up today, happy wife = happy life I think the very strong level of immigration is also very supportive of the vehicle market. Very few cars are sold outright for cash so we realise we're in a fortunate position and also know that a one stop shop like turners is very well placed to meet the finance, after-market insurance and trade-in requirements of motorists. I'm maintaining a sizeable investment in Turners convertible bonds. Disc: Also have stakes in HBL and CMO, the latter of which I expect to do very well indeed from ongoing record new car sales.