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Thread: GTK - Gentrack

  1. #121
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    Quote Originally Posted by Harvey Specter View Post
    no. If you own 100% of a business worth $50m, and you raise $50m of new cash, you now have 50% of a 100m business. The amount of money you have at risk is still the same (that assumes the IPO is priced right).

    Compare that to a person who sells 50% of their $50m business who now has $25m in cash which is more than enough if your remaining 50% holding doens't do that well.
    TY Harvey S. for clarifying that to me.

  2. #122
    Speedy Az winner69's Avatar
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    Company couldn't talk to Radionz on Friday because they were in private briefing with analysts.

    All good news though. The man from Milford says things happen but the company has convinced him that 2015 will be better than prospectus.

    Don't you guys feel so important and treated well by the company?

  3. #123
    Speedy Az winner69's Avatar
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    The Radionz report
    http://www.radionz.co.nz/audio/player/20144163

    Maybe gentrack will front up tomorrow

  4. #124
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    http://www.stuff.co.nz/business/indu...ntract-dispute

    If they were an Australian company a class action would be undertaken if they new before the IPO of an impending dispute with a customer and it wasnt disclosed.Guess in NZ they dont have to answer to anyone?
    one step ahead of the herd

  5. #125
    Speedy Az winner69's Avatar
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    It does seem rather unfair 'to privately brief analysts' on Friday but make no more public comment

    I am sure the guy from milford (no doubt part of the private do) said on the radio this morning that he's confident that 2015 will beat prospectus number. Listen to him in link above, he gives impression hat is what the company lead him to believe.

    Strong day today, conspiracy theorists might ask wonder whose buying.






    Gentrack won't comment on profit warning soon after listing

    Monday, 4 August 2014, 1:06 pm
    Article: BusinessDesk
    Gentrack eschews public comment on profit warning 6 weeks after listing

    By Suze Metherell

    Aug. 4 (BusinessDesk) - Gentrack Group, which touted its "proven revenue and earnings record" in its $99 million share sale in June, is refusing to answer questions after a shock profit downgrade hammered its shares on Friday.

    Shares of the June-listed company dropped as low as $2.10 on Friday, below its $2.40 offer price, after it said profit in the 12 months ended Sept. 30 was now expected to be $2.5 million to $2.8 million, below the $3.7 million forecast in its prospectus. Sales would be between $38.1 to $38.5 million, missing the prospectus forecast by as much as 6.2 percent. While the company immediately privately briefed analysts on the downgrade, it declined to make any public comment.

    "We have nothing to add to or comments to make regarding the notice on Friday," said Aaron Baker, general manager in an email to BusinessDesk this morning. Chairman John Clifford and executive director James Docking were unavailable on Friday because of the briefings, Baker said.

    The warning came just over a month after the company raised $36 million in new capital, to cover IPO costs and pay off debt, in its initial public offer, while existing shareholders, including chairman John Clifford and executive director James Docking, sold off $63 million worth of shares, and retained a 43 percent stake in the company. There was no public pool.

    "It is disconcerting for a profit warning to happen so soon after listing," John Hawkins, chairman of the New Zealand Shareholders Association, adding that his board would discuss the situation at a meeting on Wednesday.

  6. #126
    Speedy Az winner69's Avatar
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    Quote Originally Posted by winner69 View Post
    On the ASX disclosure form they didn't tick the box for supplying half year accounts and said NA as not not normally prepared

    Interestingly they turned up later.

    Maybe an afterthought and for completeness sakes though hey would send it in. They would have known March figure well before today

    Hope no surprises in it?
    After Fridays debacle one needs to wonder about their compliance capability. I believe they overlooked that Half Year report (might be wrong) and were reminded about it.

    Lot of rich people and don't forget why they listing - H1Report says : The public listing will provide a new level of transparency on ownership and financial strength that will reassure the larger utilities and airports around the world that now use or are considering using Gentrack.

    Looks like small shareholders don't count

  7. #127
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    FMA will be undertaking an investigation.

    I've started dumping my holding. I've lost all confidence in management since they failed to disclose this when it first come to light but a mere 27 days after listing.

  8. #128
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    There is maybe a interesting story here

    At a guess if UBS loaned stock to a shorter - did the shorter know of the customer dispute? before they took the stock or did they take the stock after the issue knowing the dispute was going to eventuate after the float?

    did the company know of possible dispute before ipo or after ipo - Guilt by non comment? If you only found out after ipo surely you would comment and say so? and close down guessing games like im doing lol.
    one step ahead of the herd

  9. #129
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    Quote Originally Posted by moosie_900 View Post
    Want to take a bet on that? It's pretty much 50/50, and even if they do I highly doubt anything will happen. Or did you hear something through the grapevine?
    Moose, may I make a suggestion?

    Make a complaint to the NZX and FMA - there is plenty of substance there to complain about and with an official complaint, they are obliged to acknowledge and investigate and report back on the complaint.

  10. #130
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    Quote Originally Posted by moosie_900 View Post
    Already done so. Ridiculous...
    Good on you. Moose. I meant the suggestion sincerely and it was not meant as a potshot at you or anyone.

    I have dealt with the FMA and while there are some amateurs and corporate has-beens in there, they do follow up on things.

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