Tegel IPO

[janner]

https://www.nzx.com/companies/TGH/announcements/300692

Profit downgrade next?

Something really really smells when the Chairman of a company listed only for 1 year resigns immediately and without further notice.

Get the feeling that Mr Ogden is not happy about the last profit downgrade and the dent it put on his credibility?

Will stick by my pre IPO posts. 58 and 60. Still to many unanswered questions.

Barge pole material IMHO.

[Beagle]

https://www.nzx.com/companies/TGH/announcements/300692

Profit downgrade next?

Something really really smells when the Chairman of a company listed only for 1 year resigns immediately and without further notice.

Get the feeling that Mr Ogden is not happy about the last profit downgrade and the dent it put on his credibility?

Probably and I agree 100%. My sense is there's trouble coming and he doesn't want his reputation besmirched. In my opinion its extremely unlikely he left for health reasons as he looked very well when I saw him at last weeks Summerset annual meeting.

[bottomfeeder]

Probably and I agree 100%. My sense is there's trouble coming and he doesn't want his reputation besmirched. In my opinion its extremely unlikely he left for health reasons as he looked very well when I saw him at last weeks Summerset annual meeting.

My sentiments exactly. He is a director of other companies as well, so has a reputation to uphold. Mind you the current shareprice after a year, is not all that good, and doesn't seem to be able to improve in the short term. Still this sort of news always oversells the SP, and must be worth buying soon just on SP alone. Looking at $1-06, as my entry point again to get my money back on the others I am holding. Lucky I didnt get in big time.

Looks like 17 million wiped off market cap today. They should have bought him out at say 5 mill to stay put, shut up and become a puppet of the promoters who started off the IPO.

[Beagle]

My sentiments exactly. He is a director of other companies as well, so has a reputation to uphold. Mind you the current shareprice after a year, is not all that good, and doesn't seem to be able to improve in the short term. Still this sort of new always oversells the SP, and must be worth buying soon just on SP alone. Looking at $1-06, as my entry point again to get my money back on the others I am holding. Lucky I didnt get in big time.

You can't discount the distinct possibility of a fresh downgrade followed in due course by an even lower result. Any IPO promotors can forecast anything they like and in my opinion its more likely than not that the most recent official downgrade a while back was only a moderate one to try and ameliorate the possibility of litigation against the promotors. The real truth will come out in due course after their annual result. I wouldn't consider investing at any price until the real truth regarding profitability is known. Mr Ogden resigned from a very well paid position so you can almost guarantee one thing, its going to get messy !

[Arbroath]

To be a little contrarian it might be good news....The Warehouse has only deteriorated in the 5+ years he's been a Director.

However, I agree the statement put out is short and sharp and suggests FY18 outlook might be as soggy as FY17 has been. Still feel there is value here for patient investors but await FY17 results for some further insight....

[bottomfeeder]

So much for continued disclosure rules. Immediate resignation, shareholders lose nearly 20 million in a day, and the company is quiet. Yes, I would be happy if Ogden resigned from the Warehouse as well. A company with $300 mill market cap and he does this without an explanation. Just goes to show, responsibility to shareholders is sometimes not always in the forefront of Directors agenda's.

[janner]

With an ROE of 5% " expected " to rise to 8% over a couple of years ???.

Disc. Never a holder.

[sb9]

Never a good sign when Chairman leaves the company suddenly and no substantial reason given. Smells foul!

[BlackCross]

Until today's announcement I did see 'long term' value here and was prepared to hold. This resignation though and the lack of published reason for it smells pretty bad.

What really concerns me is that he will presumably have been briefed in the last couple of days on the shape of FY17 results at the end of April.

[Rep]

Never a good sign when Chairman leaves the company suddenly and no substantial reason given. Smells foul!

Smells fowl to me.