[QUOTE=1leon;396255]
Quote Originally Posted by percy View Post
...we are all getting a bigger slice of the cake.
But will it be fair and when will we get it. I have owned my shares way back through NZ Rural Property Trust. I doubt anyone has been able to realise their true value and certainly the company shows it has no interest in seeing that. If you look at the history of REL since it merged with NZProperty Trust in Dec 2009 it has successively bought back/cancelled in excess of 2,000,000 each year. Cushing company H&G has advanced from 50.01% to 54.92% and if shareholders succumb to the latest offer it will advance to 58.25% It could easily attain two thirds within 3 years obtaining shares in this way at a 20% plus discount instead of paying a premium for increaed control. Frankly I think the larger slice you relish is going to cost you your voting power.
Incidentally Skyline which I also hold with only slightly less shares on issue manages to trade at a premium to asset backing but then it also pays a dividend, doesn't cancel shares and does not suffer the major shareholder stranglehold to the same extent. Liquidity, share trades, seem on par with REL. Skyline has major landholdings in Queenstown as well as property elsewhere.
Shareholder numbers of REL have moved down from 1550 to 1474 over the last 3 years- I note there are no sellers and hope modest trading reflects a preparedness to hold.
I think you will find/are finding David Cushing and the other fella are moving the company along very well.I think what they are doing is adding wealth for all shareholders. Any one owning 30% of a company really has control,so voting power well gone.
I do not hold [unfortunately] Skyline shares.