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09-09-2015, 02:32 PM
#6311
An impairment here, a write-off there
Originally Posted by RTM
Not ideal....did "we" already know this ?
http://www.sharechat.co.nz/article/a...g-2-2-mln.html
"The latest liquidators report in May 2015 from Blacklock Rose liquidator Garry Whimp said two secured creditors – understood to be Heartland Bank and Trade Publication Ltd, are owed $1.449 million. The IRD has put in a claim for $287,190, while the company owes wages and holiday pay of $18,125. Claims from a further 24 unsecured creditors have been received totalling $625,631."
You may notice that the receivers and then the liquidators were called in March 2014, 18 months ago.
So it is highly likely that it featured in the FY2014 accounts and in an adjusted form in the FY2015 accounts.
Best Wishes
Paper Tiger
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09-09-2015, 03:19 PM
#6312
Originally Posted by sb9
This makes no sense to me, according to todays, above announcement, Chris Mace had no beneficial ordinary shares in HNZ before purchasing the 713k shares.
However on the 30 June 2014 according to the annual report of HNZ he had over 12mil shares in this class. I could not find any NZX announcements of Chris Mace having traded in the period between 30 June 2014 and today so unless I missed something we should expect a correction soon.
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09-09-2015, 03:31 PM
#6313
Oceania & Eastern
Originally Posted by forest
This makes no sense to me, according to todays, above announcement, Chris Mace had no beneficial ordinary shares in HNZ before purchasing the 713k shares.
However on the 30 June 2014 according to the annual report of HNZ he had over 12mil shares in this class. I could not find any NZX announcements of Chris Mace having traded in the period between 30 June 2014 and today so unless I missed something we should expect a correction soon.
You missed something - read the entire announcement
Best Wishes
Paper Tiger
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09-09-2015, 03:47 PM
#6314
Thanks PT, comprehension was never a strength of mine.
Were I stopped reading and obviously still missing something is at the beginning of the announcement.
Summary of acquisition or disposal of relevant interest (excluding specified derivatives). It then talks about ordinary shares. And numbers held in class before acquisition or disposal being zero.
Would you like to explain this further, cheers forest
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09-09-2015, 03:55 PM
#6315
Originally Posted by forest
Would you like to explain this further, cheers forest
Read page 2. He has a beneficial interest through 2 different entities. The existing holding has 12m and the new purchases are through a new entity which so only holds the new purchase of 700k.
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09-09-2015, 04:01 PM
#6316
Thanks Harvey, now I understand.
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09-09-2015, 05:00 PM
#6317
Member
While Chris Mace has bought 713k shares, institutional holders continue to offload. Nearly 10m last month.
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09-09-2015, 05:28 PM
#6318
Originally Posted by belted galloway
While Chris Mace has bought 713k shares, institutional holders continue to offload. Nearly 10m last month.
It has been an interesting past month for transactions. Institutional off-loading compared with three insider purchases.
Maybe there has been an outflow from managed funds - retail investors being spooked or whatever and withdrawing their investments. Maybe some Kiwisavers have been transferring their funds from growth units to balanced or conservative units. There has been/ still is a risk-off environment. Management/directors are in tune (hopefully) with the actual business environment for the company.
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09-09-2015, 07:23 PM
#6319
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09-09-2015, 07:28 PM
#6320
Originally Posted by nextbigthing
, prior to the Motor Vehicle Finance takeover announcement
Can you back up that statement ???
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