Dick Smith IPO - DSE

[percy]

gees are you talking dick smith or carter holt

You have made my day.!
Always great seeing someone joining the dots.
Maybe I am best neither confirm you are right or wrong.!! ..lol.

[percy]

In other news, Anchorage is glad to announce its next upcoming float, Hirepool, will provide excellent value for investors.

We await the prospectus with bated breath.!

[trader_jackson]

In other news, Anchorage is glad to announce its next upcoming float, Hirepool, will provide excellent value for investors.

No need to worry about them bring that to market, remember?... Hirepool is "too good to sell"

[winner69]

Direct Capital sell down in Scales seems to have been ok for new shareholders

Not all private equity are evil as we seem to make out

[trader_jackson]

Direct Capital sell down in Scales seems to have been ok for new shareholders

Not all private equity are evil as we seem to make out

Seems ok... so far (I personally am not to keen on them...)

Then again, I think Summerset was also listed by private equity at $1?

[Stranger_Danger]

Interested to hear other peoples thoughts on this, but from the little I've read about DSE, the PE guys should be going to jail IMHO (after being stripped of their assets!)

I haven't really followed it, but my understanding is they bought the company, stripped all the inventory and listed it with things looking good on the balance sheet etc, hiding the fact they'd destroyed inventory levels. Then forked it off for a huge sum, IMHO effectively stealing from uninformed investors.

Perhaps investors are to blame but I really think this practice needs to be stopped, perhaps via independent auditors who are held financially liable for anything they miss who in turn can charge the PE firms appropriate large fees.

It's a con and it should be illegal.

Disc; dont hold, never have, so not a sour/burnt holder, just think it's wrong.

How can Anchorage be guilty of some "cunning plot"? You could see EXACTLY what the playbook was simply by looking through the shops.

Seriously, there are some investments you need to be smart to either do or avoid.

This was not one of them.

[percy]

No need to worry about them bring that to market, remember?... Hirepool is "too good to sell"

May pay to keep that in mind should they try again.!!
Then ask them why they changed their mind?.!..lol.

[Stranger_Danger]

Had a very good feeling this day would come, hence gave anyone who was an investor or buying stock from them some warning before Christmas... I'm not surprised it happened (like several people on here), but what I am surprised at is how things deteriorated so fast.

Me too. I pretty much knew the destiny of this one the day it IPO'd. But if you asked me last week if it would have gone broke this week, I'd have said no way.

Maybe the banks have a role to play in the year ahead?

[h2so4]

How can Anchorage be guilty of some "cunning plot"? You could see EXACTLY what the playbook was simply by looking through the shops.

Seriously, there are some investments you need to be smart to either do or avoid.

This was not one of them.

Yep. That's their game...sell the good and the bad....but make them all look good. How else could they sell the bad ones. Buyer beware.

[winner69]

I'm not defending the moral issues of PE outfits ..but..Are you suggesting that Anchorage Capital is still controlling product management after exiting 2 years ago??

From the August Annual Report the top 20 shareholders seem to be mostly nominee holdings
B. Top 20 Shareholders
The names of the 20 largest shareholders of ordinary shares are listed below:
Rank Name Number held ...%
1 J P MORGAN NOMINEES AUSTRALIA LIMITED 57,141,658 ..24.16%
2 NATIONAL NOMINEES LIMITED 36,176,951.. 15.30%
3 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 34,671,336.. 14.66%
4 CITICORP NOMINEES PTY LIMITED 15,994,889.. 6.76%
5 LMA INVESTMENTS PTY LIMITED 15,330,639.. 6.48%
6 RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED 10,028,944.. 4.24%
7 BNP PARIBAS NOMS PTY LTD 9,323,303.. 3.94%
8 AMP LIFE LIMITED 6,356,031.. 2.69%
9 RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED 4,221,670.. 1.78%
10 CITICORP NOMINEES PTY LIMITED 2,540,371.. 1.07%
11 MRS MARCELLA DAVIS 727,988.. 0.31%
12 MICHAEL POTTS 727,988.. 0.31%
13 NATIONAL NOMINEES LIMITED 721,723.. 0.31%
14 GWYNVILL TRADING PTY LIMITED 550,000.. 0.23%
15 JOHN SKELLERN 516,019.. 0.22%
16 TABWIT PTY LTD 500,000.. 0.21%
17 DMW CAPITAL PTY LTD 468,182.. 0.20%
18 JATOLI 2 PTY LTD 446,866.. 0.19%
19 MARIO COCCIOLONE 441,205.. 0.19%
20 NEIL MEROLA 438,498.. 0.19%
TOTAL 197,324,261.. 83.43
Balance of Register 39,187,103.. 16.57%
GRAND TOTAL 236,511,364.. 100%

Hoop - Last AR showed this Substantial Shareholders

Ordinary shares No. held Voting Power
Fidelity Worldwide Investment (FIL) 21,353,772 9.03%
LMA Investments as trustee for the NL Abboud Trust 15,345,639 6.49%
Deustche Bank 14,479,955 6.12%
Commonwealth Bank of Australia 14,015,913 5.92%
Perpetual Investments 13,911,035 5.88%
Australian Super 13,047,384 5.52%
AXA Group 12,330,358 5.21%
AMP Limited 11,905,462 5.03%
Capital Group 11,885,123 5.03%

Plenty of smart cookies there eh Hoop