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rmbbrave
15-09-2004, 08:08 PM
What do people think of NZ Finance?

Jenny Ruth's "first thought was why did they bother?"

Herald Sept 10

lambton
16-09-2004, 08:18 AM
Run

badger
16-09-2004, 08:31 AM
Take a closer look lambton at the prospectus. Its a quality company.

lambton
16-09-2004, 09:43 AM
Ramper

Bling_Bling
16-09-2004, 09:55 AM
quote:Originally posted by badger

Take a closer look lambton at the prospectus. Its a quality company.


Please enlighten us on your analysis.

marinesalvor
16-09-2004, 11:08 AM
Badger - welcome to the group - please tell us what you mean

badger
16-09-2004, 07:29 PM
Go to www.shares.net.nz for summary. Then get a prospectus and see forecast cashflow tax expense of $1.3 mill for next year. You have to make $4 mill pretax for this... 33% up on this year. Looks good buying to me.

zyreon
16-09-2004, 08:16 PM
If u want a financial try NYSE listed FMT
seems to be quite undevalued e.g. PEG of 0.15 PE of 5 etc I assume the undervaluation is an overeaction to the lawsuit.
though must say,I'm not buying, brokerage via asbsec is too expensive and can't be bothered opening ameritrade a/c till i move and get a more permanent home

badger
18-09-2004, 01:33 PM
Another telling factor about the quality of NZ Finance is the very low level of bad debts.
Only $20,000 in four years! Cant see any downside in this IPO.

k1w1
18-09-2004, 01:36 PM
Why is this better than SPG or DFH if you like small finance coys, which I do ....

badger
18-09-2004, 01:46 PM
More conservative in all respects but still produces a better return on shareholders funds than any of the other finance companies.

k1w1
18-09-2004, 02:46 PM
Can you give a bit more detail ?

badger
18-09-2004, 04:40 PM
Go to the NZ Finance website www.nzf.co.nz

You will find all the info you want from their prospectus.

Halebop
18-09-2004, 05:05 PM
quote:Originally posted by badger

Another telling factor about the quality of NZ Finance is the very low level of bad debts.
Only $20,000 in four years! Cant see any downside in this IPO.


Badger I understand what you are saying here and I'm really only poking fun in a devil's advocate manner but when to all extents and purposes bads debts are zero then the downside actually can't get bigger!

rmbbrave
18-09-2004, 07:37 PM
Has anyone read Jenny Ruth's article?

The byline "Why did they bother" was the only negative comment. I liked the follow things;

1, The 3 directors are holding on to 85% of the company so they have an incentive to do well.
2, They have had amazing growth. But this is from a very small base so "amazing" growth won't continue. but it should still grow.
3, They lend to people who are rejected by banks because they don't have a nine-to-fiver. (I speak from personal experience, I get half my income from investments but this doesn't count for banks) These type of borrowers have to pay higher interest. All loans are secured against property.
4, Almost no bad debts.

k1w1
20-09-2004, 06:02 AM
Had a quick look.

They look like steady operators, with strong banking backgrounds who have gone out and started a finance co and lately purchased a mortgage broking business with the financial backing of Pat O'Connor who is a good guy and major shareholder. They have a niche. Skilled assessment of people that want to buy property but who dont fit the standard criterion yet may still be good credit risks .

Their assessment that they could make things happen has proved correct. As they have been historically successful and well run they are quite able to stand the scrutiny that listing would involve.Good growth and profits.

On the negative side. There are no barriers to entry by competitors.They are very small.Still only .39% of the market with receiveables of only 120 significant loans at about $300k each. Altho profitable they do not propose to pay any dividend for y/e 2005 and are looking for acquisitions with their profits in order to bulk up. For example they have just bought a mortgage broking business that is highly exposed to the property cycle.

I may be wrong but this whole business seems to be heavily exposed to the property market - for better so far. Look at the other threads to see ST views about rising interest rates and slowing down of growth in this sector. It has gone gangbusters for the last few years as has the general economy. Why wouldnt someone like NZF who has niche exposure to it not go well . Mortgage broking the same.

However a slow down in property cycle for the next few years is foreseeable and may slow down the growth and the profits. As there are no dividends paid, this may affect the SP as it has of mortgage brokers in Australia. NTA per share is only about 6-7 cents on a 30 c share so in the unlikely event that things do turn to custard and a receiver and his hungry staff get in you have no safety net.

Badger, you make a return on investment in this company in the next few years only if the Share price goes up. That makes it different from SFG and DFH where even if the share price doesnt go up you still get a good rate of return. What I am not sure about is whether or not the SP will go up and if it did will you be able to get enough of this very small shareoffer to make it worth taking the risk ?

badger
20-09-2004, 10:09 AM
K1wi....I would take a different view in that if the property market slows up there will be more opportunity for NZ Finance because the banks will get even harder to deal with.

ON the SP the directors retain around 75% of the company so it is tightly held. Tight scrip and growth normally translate to one direction for the share price...UP

rmbbrave
20-09-2004, 12:13 PM
Thanks very nuch K1w1.

Your comments contain some excellent ideas.

20-09-2004, 03:54 PM
K1W1 what exchange is SFG on

k1w1
20-09-2004, 07:00 PM
Enigma, sorry it is SGL, Speirs Group on the AX list of the NZX.

Badger, do you have any connections with NZ Finance or those floating it ?

badger
20-09-2004, 07:49 PM
Wish I did K1w1. From memory, and you would need to check their debenture issue, SGL has a very large book but their profits crap.

k1w1
20-09-2004, 08:28 PM
Gee Badger, so are you planning on getting any ? SFG has low profit because they got Access Brokeraged, someone they did business with put thru a series of deals that appeared to be ok but only because of fraud which was discovered later.

What I like about that is they took it on the chin, didnt make excuses, or fudge their accounting to dress it up.Not only didnt they go under - they still made a profit. Guess which finance co is going to be extraordinarily inquisitive about their customers in the next financial year.

Enigma if you are in Aussie and like small finance co's check out CIY which Dimebag likes, or MFS which is my favourite. Or put your Melbourne Cup winnings on MPY for a long shot.

20-09-2004, 08:33 PM
Thanks for clarification K1W1. I agree with Badger NZ Finance in my opinion a better bet than those two. Would not even deposit money on secured debenture stock with those companies. I have a small amount of first ranking Debenture stock with NZ finance and have found them excellent to deal with.

Gryffyn
21-09-2004, 08:42 AM
Don't think access will have any either ;)

21-09-2004, 08:57 AM
k1w1 Dimebag May like CIY but I would not touch it with a barge pole

badger
21-09-2004, 02:27 PM
Long Strangle.....Try ASB Securities and keep trying Direct

Smeagol
21-09-2004, 03:17 PM
If DB are all out, and allocations are becoming hard to source... could one take this as a good sign considering the float is not underwritten?

Sorry if that's the obviously conclusion to be drawn, but I'm new to IPOs.

k1w1
21-09-2004, 07:46 PM
Isn't it interesting that Badger has posted 8 times on this thread when he has only posted 14 times previously on ST. He states he isnt connected to NZ Finance or those floating it. No answer either on whether he has obtained any allocation of shares.

Isn't life full of spooky co-incidences ?

badger
22-09-2004, 06:38 AM
K1w1....no Im not connected and yes i do have an allocation of shares....you stick to Spiers Finance...I hope their finance profits dont get chopped up with the cabbages in their food processing division...what a combination !

k1w1
22-09-2004, 08:06 AM
LS and Badger, I don't apologise for asking questions that are relevant. Always check the messenger as well as the message ( though I am not so hard line on it as MacDunk who only believes the tea lady and the truckdriver !)

LS- Badger, who posts rarely, does post intelligently, but they are uniformly positive, I always wonder why someone intelligent can see no negatives about this co. An infrequent poster has done so mostly about this float so I requested disclosure. I am not sure how many he has been allocated, was it just standard retail allocation, or is he connected ?

Badger, no offence intended I just have a nasty cynical nature .

rmbbrave
27-09-2004, 11:24 AM
I have ordered 10000 shares. Whether I will get them is a different matter

k1w1
27-09-2004, 01:44 PM
Brave,if you get them thats not a positive sign. If you don't get them thats not all that positive either.

I always wonder with these ones with the deliberately constricted supply - unless I got a big allocation thru connections:D

badger
27-09-2004, 06:00 PM
K1w1...get yourself some stock ..closing this week altough you might have to employ the ' many smaller apllications technique' to avoid being scaled.

rmbbrave
06-10-2004, 11:10 AM
NZ Finance has started trading.

The shares cost 30 cents and they are now at 36 cents.

A tidy profit if you were able to get some. I don't whether I got any or not yet. However the money I allocated for these shares has left my account.

rmbbrave
06-10-2004, 11:54 AM
What do you mean "tiny volume"?

There have been 229000 traded before 12:30. That is more than most of NZ's biggest companies.

rmbbrave
06-10-2004, 03:38 PM
I have come up with a theory as to what "tiny volume" may mean.

Are you trying to say that most of the punters who got NZF shares before the IPO haven't flogged them off on the first day of listing for a quick profit and that that is unusual as far as IPOs are concerned?

Please correct me if I am wrong.

rmbbrave
07-10-2004, 12:58 PM
Strong show for NZ Finance

07.10.2004 By ELLEN READ

New Zealand Finance has made a strong start to life as a listed company, rising four cents to 34c a share on its stock exchange debut.

After hitting 37c, the stock closed last night at 35c a share, giving the company a market capitalisation of just over $24 million.

Most of the financial services company's loans are short-term bridging loans to the residential property market. It also has a mortgage-broking business, NZ Mortgage Finance.

Managing director John Callaghan was "very pleasantly surprised" at the strong start to public trading.

He said there had been a good response to the offer, resulting in heavy scaling - including for company directors.

NZ Finance offered 5.5 million new shares and 4.3 million existing shares to the public, at 30 cents a share.

Established in 1997, the company remains majority-owned by directors Callaghan, Mark Thornton and Pat O'Connor. The share issue means new investors hold just under 15 per cent of the company. The total number of shares on issue is just over 69 million.

The company has a loan book of around $40 million, assets of just over $5 million and made a net profit of $3.5 million in the year to March 31. It will unveil its interim result at the end of the month.

The finance sector has been in favour recently, with a booming housing market and low interest rates.

Mortgage-broking franchise company Mike Pero raised $10 million and listed on the stock exchange in May. In July, Dominion Finance followed suit after a successful $15 million capital raising.

rmbbrave
15-10-2004, 09:45 PM
NZ Finance closed at 40 cents today. That is 33% profit in 2 weeks for those who were lucky enough to get some shares in the IPO.

blackcap
16-10-2004, 10:58 AM
quote:Originally posted by rmbbrave

NZ Finance closed at 40 cents today. That is 33% profit in 2 weeks for those who were lucky enough to get some shares in the IPO.


Yep managed to get the mandatory 5000 in the IPO but unfortunately had sold out at 36. Still looks like this baby could go on a bit.
Reasonably illiquid if founders not looking to sell and some unsatisfied demand out there.

mikescott
16-10-2004, 01:24 PM
It will get high enough soon for the suckers to be attracted in.

Think Strathmore.

badger
16-10-2004, 03:47 PM
quote:Originally posted by lambton

Run


You still running Lambton ?? Its not too late to buy quality even at 40 cents.

blackcap
16-10-2004, 09:17 PM
quote:Originally posted by minder

It will get high enough soon for the suckers to be attracted in.

Think Strathmore.


Minder good to have you back??

Dont be so negative mate. Not everthing is doom and gloom.

lambton
17-10-2004, 07:47 PM
quote:Originally posted by badger


quote:Originally posted by lambton

Run


You still running Lambton ?? Its not too late to buy quality even at 40 cents.


Nah

badger
17-10-2004, 08:44 PM
Oh cmon Lambton..get with the programme man...you too Minder.

I think the both of you already have stock and are just trying to talk it down so you can get some more. LOL

rmbbrave
28-10-2004, 11:37 AM
NZF is up 40% since listing and the half year profit up even more at 49.2%

26/10/2004
1:55 pm

HALFYR: NZF: HY to 30/09/2004 $1.204m ($807,000) +49.2% No Div

LISTED ISSUER: New Zealand Finance Holdings Limited

CONSOLIDATED OPERATING STATEMENT FOR THE HALF YEAR ENDED 30/09/2004

Audited, NZ$000

Current Period (Previous Corresponding Period)

OPERATING REVENUE

Trading revenue 2,930 1,175
Other revenue 2,738 1,687
Total Operating Revenue 5,668 2,862

OPERATING SURPLUS (DEFICIT) BEFORE TAXATION 1,839 1,205

Less taxation on operating profit (635) (398)

OPERATING SURPLUS (DEFICIT) AFTER TAX 1,204 807

Extraordinary items after tax - -

Unrealised net change in value of investment properties - -

NET SURPLUS (DEFICIT) FOR THE PERIOD 1,204 807

Net Surplus (Deficit) attributable to minority interests - -

NET SURPLUS (DEFICIT) ATTRIBUTABLE TO MEMBERS OF THE LISTED ISSUER 1,204
807

No Dividend

DIRECTORS' ANNOUNCEMENT TO NZX

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2004

The Directors of New Zealand Finance Holdings Limited (NZFH) are pleased to
report a strong performance for the six months ended 30 September 2004.

Highlights are:


- Net profit after tax for the group for the six months ended 30 September
2004 was $1,203,710.The profit for the same six month period in the previous
year was $807,510, representing an increase of 49.2% It should be noted that
the profit in the previous six month period did not include the trading
performance of New Zealand Mortgage Finance Limited (NZMF). NZMF was only
acquired by NZFH on the 31st March 2004.
- Total revenue for the six months to 30 September 2004 was $5,667,824
compared with $2,862,197 in New Zealand Finance Limited for the same six
month period in the pervious year, an increase of 98.0%
- Total net finance receivables has increased by $8,895,254 during the six
month period and now stand at $45,757,450.
- NZFH continues to experience steady demand for its lending
products and the quality of the loan book is high as is evidenced by no bad
debts being incurred for the six month period.
- Shareholders funds have increased from $4,426,483 as at 31 March 2004 to
$5,762,991 as at 30 September 2004. On 6th October 2004, NZFH was listed on
the main board of the NZSX after having raised additional capital of
$1,650,000 lifting Shareholders Funds to $7,412,991.

The Chairman, Richard Waddel said the results were very pleasing in such a
competitive environment and while interest rates are rising and the property
market appears to be slowing, the Board and Management consider it unlikely
that NZFH's growth will be affected. They are confident that the trend of
results achieved to date should continue for the full financial year.

Given that the economy is showing signs of slowing down, the Directors will
continue with their conservative lending policy, and also having only minimal
exposure to property development funding.

The Board of Directors have been very pleased with the success of the listing
of New Zealand Finance Holdings Limited and are committed to improving
profitability and shareholder value.

As stated in the listing prospectus no interim dividend has been declared.
End CA:00107038 For:NZF Type:HALFYR Time:2004-10-26:13:55:29

rmbbrave
02-02-2005, 01:17 PM
This announcement came out in December. Sorry for not posting it then.

NZF
17/12/2004
FORECAST

REL: 1143 HRS New Zealand Finance Holdings Limited

FORECAST: NZF: New Zealand Finance Holdings forecasts $2.5 million profit

New Zealand Finance Holdings Limited
17/12/04

FORECAST: New Zealand Finance Holdings forecasts $2.5 million profit

Following a review of current performance, New Zealand Finance Holdings
Limited (NZFH) directors are forecasting a net profit after tax to exceed
$2.5m for the year ended 31 March 2005.

The result would represent a 50 percent increase over the year ended 31 March
2004. It should be noted that the profit in the previous period did not
include the trading performance of New Zealand Mortgage Finance Limited
(NZMF). NZMF was only acquired by NZFH on 31 March 2004.

NZFH specializes in short term advances and has only minimal lending exposure
to the construction industry or CBD apartment market. Over 90 percent of
funds invested, are secured against quality residential real estate.

Business activity has remained strong despite increasing interest rates and a
slowing of residential property sales.

Richard Waddel, NZFH's Independent Chairman, said it is encouraging to see
the Reserve Bank's latest decision to maintain the official cash rate which
should provide some stability.

Write offs since the last balance date have been nil.

The directors remain satisfied with the success of the listing of NZFH and
the group is benefiting from the higher profile of being one of only a few
finance sector companies listed on the NZX.

Richard Waddel
Chairman of Directors

rmbbrave
02-02-2005, 01:21 PM
NZF is trading at 45 cents today.

It listed at 30 cents in Oct 04. 50% profit for the lucky holders of this share.

I imagine we are not very many as it is never talked about on sharetrader.

I sometimes feel like Rocking talking to myself about NZF.

rmbbrave
02-02-2005, 01:54 PM
Rocking here again...

I just bought some more at 0.45 and according to ASB Securites there are buy orders for 128,000 and sell orders for 15,000 with the cheapest at 0.48.

Snow Leopard
02-02-2005, 01:58 PM
Good on you. [8D]

You put to much into a post to be comparable with Rocking. :D

PennyPicker
02-02-2005, 02:11 PM
I remember reading in the IPO prospectus that while they didn't plan on issuing dividens they would review this come the end of their financial year 05...

If they're boasting a 2.5mil profit maybe there'll be a one off dividend for those who backed them in the IPO...

What do you think?

Disc: Hold from IPO.

02-02-2005, 04:52 PM
PennyPicker if they did it would not be good signal better used to grow business

rmbbrave
02-02-2005, 08:35 PM
quote:Originally posted by Long Strangle

In the prospectus the dividend payable for the current financial year is 1c fully imputed :).


Are you sure about that LS? In the Half Year Report released Oct 26 04 it says No Div (see one of my above posts for the full report)

26/10/2004
1:55 pm

HALFYR: NZF: HY to 30/09/2004 $1.204m ($807,000) +49.2% No Div

lambton
03-02-2005, 08:36 AM
quote:Originally posted by rmbbrave

NZF is trading at 45 cents today.

It listed at 30 cents in Oct 04. 50% profit for the lucky holders of this share.

I imagine we are not very many as it is never talked about on sharetrader.

I sometimes feel like Rocking talking to myself about NZF.


The 1st 50% was easy - like the first step on a ladder. Getting to the next level ain't so easy, unless of course you are the only real buyer. ;)
Nothing wrong with taking a profit. And well done for buying at IPO. I didn't and no regrets. Have better turkeys to play with at moment.

rmbbrave
03-02-2005, 10:17 AM
Better than 50% in 4 months!?

What are they?

I'd like to play with those turkeys too.

k1w1
03-02-2005, 03:09 PM
Well done to Badger, went early with the call and has been proved correct in subscribing to the IPO.

rmbbrave
07-02-2005, 02:54 PM
NZF up 8.7% today!

There are buyers from 0.40 to 0.49 for 100,000 shares but there are NO sellers!

The last trade was at 0.50. Up 66% from IPO in Oct 04.

Steve
07-02-2005, 09:09 PM
While the current trading position is good, the future is expected to become more challanging for finance companies - especially the smaller ones. Does NZF count as one of the smaller finance companies?

badger
07-02-2005, 09:14 PM
quote:Originally posted by Steve

. Does NZF count as one of the smaller finance companies?

NO CHANCE......ITS THE BEST QUALITY

PennyPicker
11-02-2005, 10:16 AM
New Zealand Finance Holdings Limited NZF 11 Feb, 2005, 10:50 GENERAL Agreement to Acquire Approved Mortgage Brokers Business
Full Text of Announcement
New Zealand Finance Holdings Limited (NZF) enters an agreement to acquire Approved Mortgage Brokers business.

NZF advises that its subsidiary New Zealand Mortgage Finance Limited (NZMF) has entered into a conditional agreement to acquire the business operations of Approved Mortgage Brokers International Limited (AMB) for $1,200,000.

The consideration is to be satisfied by the issue of 2,666,667 ordinary shares in NZF at an issue price of 45 cents (based on the last 20 business days closing price).

The agreement is subject to NZF final due diligence and subject to the satisfaction of that condition, settlement is set down for the 1st of April 2005.

Approved Mortgage Brokers was founded in 1996 and began to establish franchised outlets in 2000. There are now 11 franchises and 17 people working within the company.

The business acquired will continue to trade under its own brand Approved Mortgage Brokers and existing management will stay in place, along with all people currently employed or contracted.

This agreement effectively doubles NZ Finance Holdings' mortgage broking business, which is managed through its subsidiary NZMF and meets NZFH's goal of expanding its distribution channels for growth.

The move creates a mortgage broking company that is heading rapidly towards writing $1 billion in annual mortgages.

rmbbrave
11-02-2005, 11:40 AM
There are now buyers wanting 120,000 shares at between 41 and 50 cents and there is one person trying to sell 1000 shares at 65 cents. The list price was 30 cents back in October.

rmbbrave
11-02-2005, 01:46 PM
Me too.

I bought some at 41 and 45 though.

rmbbrave
11-02-2005, 02:14 PM
quote:Originally posted by rmbbrave

There are now buyers wanting 120,000 shares at between 41 and 50 cents and there is one person trying to sell 1000 shares at 65 cents. The list price was 30 cents back in October.


The trouble with this situation is that you can't get a proper value for NZF. Sooner or later (sooner is far more likely) one of the buyers is going to break ranks and buy at 60 cents and when they do I will change the name of this thread to NZ Finance - Money doubled in 5 months!

rmbbrave
12-02-2005, 12:32 PM
"The consideration is to be satisfied by the issue of 2,666,667 ordinary shares in NZF at an issue price of 45 cents (based on the last 20 business days closing price)."

To whom will these shares be issued?

To the current owners of Approved Mortgage Brokers?

Will there be a rights issue?

rmbbrave
14-02-2005, 12:15 PM
Here I am talking to myself again.

I have found the answers to the questions I put forward in my last post.

NZF has a plan so cunning you could pin a tail on it and call it a weasel, NZF is buying AMB with shares in NZF.

I believe Bob Jones in the 1980's was a master of this. He bought buildings with shares in Bob Jones Investments. Bob got the buildings, the previous owners got shares.

The lastest news on the share price is:

There is now a willing buyer at 51 cents (16000) and a seller at 65 (1000). Good luck to that buyer he'll need it. Buyers outnumber sellers 76:1

Jenny Ruth once asked "Why did they bother? (to list). And now she knows...


NZ Finance to buy Approved
New Zealand Finance Holdings will buy Approved Mortgage Brokers for $1.2 million from April 1.
Monday, 14 February 2005

By Jenny Ruth


For Approved's existing four owners, managing director Dave Shatford who bought out co-founder Karl Baker in April last year, the other co-founder Lawrence Diack, and directors Michael Beal and Nick McCorkindale, the deal is essentially a share swap as NZFH will pay them by issuing nearly 2.7 million new shares at a nominal 45 cents each.

They are already ahead on the deal. NZFH offered 5.5 million shares in an IPO last October at 30c and those shares are now trading at 50c.

"We were keen to give them some cash (but) they were very keen to take scrip," says NZFH managing director John Callaghan.

Approved will continue to operate as a stand-alone business quite separate from NZFH's own mortgage broking operations.

"Our mortgage broking operation has generally specialised in the sub-prime market. We do a lot of non-conforming lending through Liberty and Bluestone," Callaghan says.

NZFH had been looking for a way of getting into the premium end of the market and that was what attracted it to Approved, he says.

He wants to keep the two brands separate to protect their respective places in the market. "You don't go to Mercedes to buy a Toyota and you don't go to Toyota to buy your Mercedes."

Approved has 11 franchisees and a total of 17 staff. Buying approved means NZFH's combined mortgage broking operations are approaching writing $1 billion a year in home loans.

Shatford says the big advantage of being part of a larger group will be that Approved will be able to take bigger risks as it seeks to expand. " We're looking at growth beyond Auckland and Wellington. That's a big cost," Shatford says.

It also means that Approved can stick to its own knitting rather than exploring other niches such as the sub-prime market. He says Approved's shareholders and NZFH have been talking about the deal, which is still subject to NZFH completing due diligence, since September

PennyPicker
14-02-2005, 01:53 PM
Thanks for the posts rmbbrave, don't get despondent, I and others I'm sure are following them with great interest.

My feelings during the leadup to NZF listing were that there wasn't alot of good news, it was either quiet or negative points were being bantered about with respect to the time/industry. Maybe just some brusied egos following MPM?

I suspected at the time that it was possibly a ploy by many to reduce interest, (even if only on this board) in the IPO so they could be assured the largest holding possible. (cynical I know :)).

Presumably if there's a buyer at 51 that means there are absolutely no spare shares available?

Disc: Hold since IPO (and topping up when I can).

PennyPicker
15-02-2005, 12:19 PM
quote:Originally posted by rmbbrave

The trouble with this situation is that you can't get a proper value for NZF. Sooner or later (sooner is far more likely) one of the buyers is going to break ranks and buy at 60 cents and when they do I will change the name of this thread to NZ Finance - Money doubled in 5 months!


Up 10% now to 55.

PP.

rmbbrave
15-02-2005, 01:42 PM
Now up to 57. 14% today!

Buyers outnumber sellers 10 to 1

rmbbrave
16-02-2005, 01:37 AM
Could you please tell me what their respective P/E's are. On the chart I look at NZF's P/E is N/A.

PennyPicker
16-02-2005, 07:56 AM
A high PE in comparison to other companies in the sector is acceptable if there is high growth expected, isn't it?

I've tried calculating the PE and EPS based on the information available in this news artical...


quote:17/12/04

FORECAST: New Zealand Finance Holdings forecasts $2.5 million profit


Following a review of current performance, New Zealand Finance Holdings Limited (NZFH) directors are forecasting a net profit after tax to exceed $2.5m for the year ended 31 March 2005.

But end up with some way out figures.

What's the PE you found/calculated?

PP

rmbbrave
16-02-2005, 11:59 AM
According to http://www.investopedia.com/university/peratio/

The P/E is Share Price divided by EPS
And the EPS is (Net Income minus dividends) divided by Number of shares

Total revenue for NZF for the six months to 30 September 2004 was $5,667,824 so for one year I assume it is $12m. The number of shares is 69m

The EPS is 12m/69m = 0.17
The P/E is therefore 0.57/0.17 = 3.35.

I have provided my working and assumptions so please feel free to correct any mistakes.

clearasmud
16-02-2005, 12:24 PM
quote:Originally posted by rmbbrave

According to http://www.investopedia.com/university/peratio/

The P/E is Share Price divided by EPS
And the EPS is (Net Income minus dividends) divided by Number of shares

Total revenue for NZF for the six months to 30 September 2004 was $5,667,824 so for one year I assume it is $12m. The number of shares is 69m

PE is price of share*number of shares (=market capitalisation)divided by net profit after tax.

ie 69m*.6/2.08m=19.9

just a quick estimate.












(/

The EPS is 12m/69m = 0.17
The P/E is therefore 0.57/0.17 = 3.35.

I have provided my working and assumptions so please feel free to correct any mistakes.

k1w1
16-02-2005, 01:04 PM
Revenue is gross , earnings is net profit. Brave your error t is similar to confusing your gross sales figure with the net profit of your business. You have to pay out all your expenses before you can figure out what the profit is. P/E is the net profit of the company divided by the number of shares in the company.

The P/E tells you how many years of earnings it would take to repay the cost of purchasing the share.

rmbbrave
16-02-2005, 01:59 PM
Thanks very much for correcting my calculations guys.

While I have been struggling to calculate the P/E the SP has jumped another 14% rendering all calculations redundant anyway. It is now at 65 so as promised it is time to change the name of this thread.

rmbbrave
16-02-2005, 11:12 PM
Thanks Long Strangle,

Could you please show formulae and working so we don't make the same mistake again.

Halebop
17-02-2005, 12:01 AM
Price Earnings (PE) is the market price of shares divided by the earnings per share (EPS)

EPS is Net Profit after Tax divided by the number of shares.

So in Long Strangle's example he has forecast earnings of $3.5m and the number of Shares on Issue as aprox 72.2m.

Therefore EPS is 3.5m/72.2m = 4.85 cents per share

If we divided the current share price of 65 cents by 4.85 cents we get 13.4 or a PE of 13.4 times earnings.

This is something you really need to understand if you want to invest in shares and/or analyse the fundamentals of companies.

rmbbrave
17-02-2005, 12:07 AM
Thanks very much guys.

rmbbrave
17-02-2005, 12:23 PM
Now the SP is up to 70! This is getting silly! If it gets to 90 I'll have to change the title of this thread again.

Buyers still outnumber sellers 4 to 1 so 90 is a outside possibility.

Recently I have been thinking about an exit strategy.

Sometime after the 1st of April 2,666,667 new shares in NZF will be issued at 45 cents to the old owners of Approved Mortgage Brokers. I reckon these people will definitely want to sell a few, (to buy a new boat etc.) so I think it might be a good idea to sell before then.

Halebop
17-02-2005, 01:30 PM
Personally I'd be inclined to take some profits now but then I wasn't bright enough to buy them in the first place. A small company like this without much history is very difficult to analyse from the outside.

Mr Strangle says they have plenty of room to grow earnings. They would need to grow at these prices. Have you got some industry insight LS?

I do find it funny that most big banks are trying to wean themselves away from buying growth via brokers while other lenders are trying to get in bed with them. I guess in this market they can all be right. Perhaps the next soft patch will sort the Bulls from the Sheep?

rmbbrave
20-02-2005, 12:22 PM
Here is an interesting article about BLUESTONE - another small finance company. I wonder how much they have in common with NZF. Does anyone know?

Up to his eyes in debt - and loving it
20 February 2005

The Kiwi founder of Australia's fastest growing company is back on home ground, writes ROB STOCK.


After conquering Australia, Dunedin-born Alistair Jeffrey has his eyes firmly set on New Zealand expansion.

Jeffrey is the founder of Bluestone, a mortgage company which specialises in lending to those the banks find hard to cater for - the self-employed, and the credit-impaired.

The growing army of such people in Australia helped Bluestone claim the title of Australia's fastest growing company last year, according to Sunday Star-Times' sister publication Business Review Weekly, with turnover rising by 886% in 2004 to $A41.5 million ($45.6 million).

Its operations in New Zealand were no slouch either, and the lender has racked up NZ$200m in home loans here, and it has an active year ahead.

In the next few months, Jeffrey says Bluestone plans to raise capital here. It plans to secure a multi-million dollar package of home loans and sell them as income investments to New Zealand institutions as well as mum and dad investors.

It will be a chance for Kiwis to own some of this country's estimated $100 billion mortgage debt, the majority of which is supplied by foreign investors who bank the interest Kiwi home buyers pay.

In addition Bluestone is looking to become the fourth provider of equity release home loans in New Zealand.

Equity release is a controversial product which allows older people to get loans against the equity in their homes. The interest is rolled up each year with the capital and interest paid back on death or when they sell their home. That can mean a small loan can end up eating up a large part of a home's equity, though Jeffrey says it is a misunderstood product because the interest paid on the loan is partially offset by rises in property values historically in the 6% per annum range.

The product, which Bluestone already sells in Australia, is in a market that has all the right hallmarks, says Jeffrey. It's a niche market growing faster than the economy as a whole with few providers competing to service a rapidly aging population, many of whom will live in 'relative poverty' unless they find a way to tap into their property wealth.

Even New Zealand First's Winston Peters thinks it's a product whose time has come, though the party advocates a government-run scheme open to all New Zealanders.

Currently only Sentinel, a Kiwi company with operations in Australia, Save & Invest and Christchurch-based Avon Investments offer the product in New Zealand.

Readers who haven't heard of Bluestone should not be surprised.

The company sells its loans exclusively through mortgage brokers who deal often with those the banks won't touch.

Jeffrey says the company has two kinds of home loan borrowers: back foot borrowers (such as those with bad credit records) and front foot borrowers (up-and-coming business people and the self-employed).

In Australia front foot borrowers are the focus of the non-conforming market (Jeffrey much prefers the less pejorative 'specialist lending market'), while in New Zealand the focus has been on back-foot borrowers.

The fame and fortune Jeffrey has now were not always the game-plan for an Otago University-trained mining engineer, whose first job was shoring up subsidence around the site of the Clyde Dam. The young Jeffrey spent eight years in the industry before deciding a life in pre-fabricated villages wasn't for him.

Jeffrey found his way to London where he cut his teeth as an investment banker with the Goldman Sachs and Nomura investment banks.

While at Nomura advising on company sales and purchases he saw the business plan of the Kensington Mortgage Company - the equivalent of Bluestone in the UK, and now a multi-billion dollar operation.

He joined the company, learned how it worked, then moved to Sydney and

rmbbrave
21-02-2005, 01:55 PM
Here I am answering my own question again.

NZF has quite a bit in common with Bluestone - NZF send business Bluestones way. NZF has just purchased a mortgage broker and is therefore following an Australian trend.

Here is another article.

By the way, if anyone is interested NZF is up ANOTHER 10% TODAY.


Australian banks likely to takeover mortgage brokers: Deloitte
A declining number of house sales and fierce competition in the mortgage market in Australia is likely to lead to consolidation of the mortgage broking industry
Friday, 14 January 2005

By Jenny Ruth

A declining number of house sales and fierce competition in the mortgage market in Australia is likely to lead to consolidation of the mortgage broking industry which may include some of the larger firms being taken over by the major banks, according to a report by Deloitte Financial Services.

Corporate finance partner Peter Riedel says that since 1998, Australian mortgage settlements have more than doubled from $A86 billion ($NZ93.3 billion) to about $A200 billion in 2004 and that mortgage brokersEshare of that has gone from 10% to as much as 35% of some lenders mortgage books.

"Based on the increased size of the mortgage market and current average commission rates (60 basis points upfront and 25 basis points trail), we estimate mortgage broker groups generated around $A600 million dollars in revenue in 2003," Riedel says.

That reflects "an extraodinary compound average growth rate of the order of 37% per annum" over the past five years.

But the Australian industry is highly fragmented with the top five players accounting for 48% of revenue and the top 100 accounting for 90%.

"The halcyon days of a booming property market are, however, beginning to turn. The broker industry itself is emerging from its infancy and heading for its next stage of development and maturity," Riedel says.

Independent brokers are facing increasing competition from banks, including ANZ Bank and Commonwealth Bank of Australia, establishing their own franchised broker networks. This competition and the downturn in the housing market is likely to lead to lower commission levels.

At the same time, costs of things such as regulation and technology will rise, making industry consolidation to provide economies of scale inevitable, he says.

To date, only a small number of transactions of mortgage broking firms have occurred, the most recent and most significant being GE Moneys $A435 million purchase of the AFIG Group, which includes Wizard Home Loans and a broking arm, Borrowers Choice. GEs entry into the market may be a precursor to further consolidation activity.

But while there will probably be mergers and acquisitions among mortgage broking firms, it is also likely that the banks will want a piece of the action. "A substantial portion of the mortgage profit margin, the distribution margin, that used to be earned by the banks is currently flowing to the brokers," Riedel says.

The most recent profit reporting season implied that one of the reasons for declining interest margins among the big banks was loss of distribution margin to brokers, he says.

However, there are a number of problems with banks purchasing mortgage brokers directly, including the risk of compromising a brokers brand image of being independent. "The implied promise that the consumer will get the best deal with an independent broker has clearly been a major contributor to growth."

But this problem could be solved if the banks wealth management operations did the acquiring. Riedel argues that mortgage broking is to some degree complementary to financial planning and that such an acquisition should lead to cross-selling opportunities.

"In my opinion, the combination of financial planners and mortgage brokers makes sense both from a business perspective (for planners and their banking parents) and from a cultural perspective, which is critical to the success of mergers in the financial services sector," Riedel says.

While the banks traditionally have adopted an "

Snow Leopard
21-02-2005, 02:01 PM
Looks like you could take out the Ramper of the Year Award with this thread rmbbrave ;).

Keep it up

rmbbrave
21-02-2005, 02:21 PM
quote:Originally posted by Paper Tiger

Looks like you could take out the Ramper of the Year Award with this thread rmbbrave ;).

Keep it up


ramping noun

The practice of causing large false increases in the prices of shares, etc by dishonest means.


I don't think I'll even make the shortlist.

I reckon a ramper is someone who makes exaggerated and spurious claims about why they think the SP will go up.

I simply post articles and announcements relevant to NZF and the industry and report on ACTUAL rises in the SP.

Snow Leopard
21-02-2005, 02:29 PM
Well would you be happy with Financial Reporter of the Year [NZF Category] [?]

rmbbrave
21-02-2005, 02:32 PM
quote:Originally posted by Paper Tiger

Well would you be happy with Financial Reporter of the Year [NZF Category] [?]


I'd buy that for a (third of) dollar!

badger
21-02-2005, 06:20 PM
quote:Originally posted by Paper Tiger

Looks like you could take out the Ramper of the Year Award with this thread rmbbrave ;).

Keep it up


More like investor of the year with his very astute investment in NZF.

rmbbrave
22-02-2005, 12:13 PM
quote:Originally posted by Long Strangle

Congrats rmbbrave on your NZF purchase I believe we will see $1.15 before year end :).


Thanks very much LS.

You could be right about the SP. At the moment their are 8 times more sellers than buyers.

Why $1.15? Any special reason or just a guestimate?

PennyPicker
22-02-2005, 01:56 PM
quote:Originally posted by rmbbraveAt the moment their are 8 times more sellers than buyers.

You don't mean buyers vs sellers?

I like the optimism of one seller there @ 80 CPS :)

Disc: Hold.

rmbbrave
25-02-2005, 10:10 AM
I feel that I owe it to all the loyal fans of NZF (all 4 of you) to report that the leveling off of the SP has resulted in me selling my NZF shares for a tidy profit.

NZF will remain on my watchlist.

rmbbrave
25-02-2005, 11:56 AM
Who are the Huljich Family?

25 Feb 2005 12:10
PLACE: NZF: Placement of Shares to the Huljich Family

New Zealand Finance Holdings Limited (NZF) makes a placement of shares to the
Huljich Family.

NZF advises that it has made a placement of 5,000,000 shares at 53 cents to
Able Investments Limited, an entity associated with the Huljich Family. This
placement will take the Huljich Family shareholding in NZF to 10.54%.

The price has been set based on the average closing share price over the last
20 business days and will be issued today.

The Board of NZF are very happy to have a new cornerstone shareholder of the
quality of the Huljich Family and that the Huljich Family after looking at a
number of finance companies both listed and private, in Australia and New
Zealand have picked NZF because of its business model and the quality of its
management.

The new capital and commitment of the Huljich Family will continue to assist
the growth and development of NZF.

The Huljich Family will be seeking a place on the board in the near future.

For further information please contact John Callaghan, Managing Director on
(09) 379 9090.

ISSUE OF SECURITIES BY NEW ZEALAND FINANCE HOLDINGS LIMITED

For the purposes of Listing Rule 7.12.1, New Zealand Finance Holdings Limited
advises that it has issued new shares as follows:

Class of Security: Ordinary Shares (NZF)

ISIN: NZNZFE0001S4

Number issued: 5,000,000 ordinary shares at 53 cents each fully paid

Payment: Cash

Percentage of total Class
of Securities issued: 6.76% (of the total number of shares on issue post
completion of the issue)

Reason for the issue: Private placement of ordinary shares of NZF to Able
Investments Limited.

Authority of issue: Director''s Resolution and Listing Rule 7.3.5.

Terms of issue: The new shares are credited as fully paid, and rank
in all respects equally with the shares already on issue.

Total number of securities
of the Class in existence
after the issue: 74,000,001

Date of issue: 25 February 2005

k1w1
25-02-2005, 12:20 PM
Ask Longstrangle.

Snow Leopard
25-02-2005, 12:34 PM
Given that the SP has hit 70c and rmbbrave has not posted the fact I can only assume he has fainted. :)

(No offence meant)

25-02-2005, 12:36 PM
LS is Stephen? Huljich and he disclosed this in another thread when being slagged off by some p rick. He may also be Badger - ha ha - just kidding.

rmbbrave
25-02-2005, 12:46 PM
quote:Originally posted by Paper Tiger

Given that the SP has hit 70c and rmbbrave has not posted the fact I can only assume he has fainted. :)

(No offence meant)


Still conscious PT.

I'm happy to have doubled my money. I sold up and the SP went up but it could have gone down.

rmbbrave
25-02-2005, 01:04 PM
quote:Originally posted by Longtack

LS is Stephen? Huljich and he disclosed this in another thread when being slagged off by some p rick. He may also be Badger - ha ha - just kidding.


Are you trying to tell me that Long Strangle (possibly Stephen Huljich) or his family own 10.54% of NZF?

I have spent the morning playing around on the internet and discovered that Rachel Huljich was miss NZ in 2002.

See
http://www.nzherald.co.nz/index.cfm?ObjectID=2647126

And that Jason Huljich is a Director of Century Funds Management.

See
http://econtent.indwide.net/accounts/cef/contentPage.jsp;jsessionid=LCMAAGLPLPPO?area=keype rs

And that Huljich is not a common name in NZ. There are only 6 listed in the internet edition whitepages.

Long Strangle said that "$1.15 (was) more (of) a guestimate, than an imformed prediction" but if he or his family own a big chunk of NZF then 1.15 would seem to be more of an informed prediction than a guestimate.

Long Strangle any comments?

Snow Leopard
25-02-2005, 01:14 PM
quote:
Long Strangle any comments?

Let him finish laughing first :D

25-02-2005, 04:18 PM
Still brassed off with NZ Finance they advised priority allottments for debenture holders but would not offer me any because I live in Australia.

rmbbrave
25-02-2005, 07:46 PM
quote:Originally posted by Long Strangle

Lol...

Yes, I am Peter Huljich.

K1w1 - good memory.
Longtack - no I am not Badger.

As detailed in the announcement we have been looking at taking a position in a number of finance companies both listed and private, in Australia and New Zealand for some time now. In our opinion NZF was the preferred investment for a number of reasons. Firstly, the quality of its management, which I have to say is world class. We have an enormous amount of confidence in both John Callaghan & Mark Thornton. Secondly, their business model is dynamic in the sense that they can experience exceptional growth, which is also manageable with existing infastructure.

That is it in a nutshell.

All the best!
Long Strangle.


Thanks very much Long Strangle.

I only wish I knew all this a few days ago but that's life I 'spose.

You and your family must be pretty happy getting all those shares for 53 cents!

Now that I have got some more credits from ASB Securities and can see the depth, I am sorry to say that there are buyers for 260,000 @ 61 - 71 and sellers for 11,000 @ 75 - 80 so buying back in will not be cheap.

Before anyone asks I am very sorry I sold at 60 but not as sorry as those who didn't buy at the IPO.

LS - Now we know that you are no ordinary poster just how accurate are your predictions of a SP of 1.15 and a profit of $3.5m?

26-02-2005, 09:13 PM
Congrats Peter.

rmbbrave
01-03-2005, 12:10 PM
25 Feb 2005 04:44
SSH: NZF: SSH Notice Received

NOTICE 24754 DETAILS

Submitted Date : 25-Feb-2005 16:43
Status : Accepted

Substantial : Y Director : N
Add Holder : Y Change Holder : N
Ceased Holder : N Change Nature : N

Issuer Code : NZF New Zealand Finance Holdings Limited
Holder : Peter Karl Christopher Huljich

Address : Level 5
: 110 Symonds Street
: Auckland
Country : New Zealand

Contact Name : Peter Karl Christopher Huljich
Phone : 021 555 515

Total of Interest : 7221300
Total Issued : 74000001
Total % : 9.7585

badger
02-03-2005, 06:16 PM
LAMBTON....Where are you? Its still not too late you know!

Snow Leopard
20-03-2005, 11:43 AM
Article about NZF and the Huljich family (http://www.stuff.co.nz/stuff/sundaystartimes/0,2106,3222823a6445,00.html) in the SST today.
The print version has the added bonus of a picture of the "brother of former Miss New Zealand Rachel Huljich": journalists!

rmbbrave
20-03-2005, 12:09 PM
I found this paragraph interesting.

"NZF is looking at developing securitised mortgages, which would give it access to cheap overseas money. This would enable it to offer conventional mortgage products through its broker network in competition with the banks."

I have arranged a loan at 1.68% to buy 60% of a house in NZ from a bank in Japan. Is this what is meant by "securitised mortgagaes" and "cheap overseas money"?

rmbbrave
20-03-2005, 12:44 PM
quote:Originally posted by rmbbrave

Is this what is meant by "securitised mortgagaes" and "cheap overseas money"?


No Rmbbrave, securitised mortgages are completely different.


Securitised Mortgages

Whether a mortgage is securitised or not should be of no concern to the borrower. The rights as between the lender and the borrower are what should concern the borrower. In other words, what is the interest rate, what is the term, what is the penalty rate of interest, what is the break cost etc. The ultimate owner of the funds can have no legal effect on the borrower.

Mortgage securitisation is simply a method by which non-bank lenders (and recently some banks as well) source the funds they lend (or rather repay the funds they borrow) from the bond markets.

Typically a lender or loan originator will borrow a line of credit from a bank. They will then re-loan that money with a margin built in. Once they have sufficient funds loaned out they will attempt to securitise their loan portfolio. This means appointing a loan manager and a loan trustee (usually both already in place) and selling the beneficial interest in the mortgages to the market in the form of bonds.

As the mortgages are repaid by the borrowers the money is returned to the investors. The investors in these bonds are primarily fund managers and mutual funds.

The deregulation of the banks in Australia allowed intense competition in the mortgage market. Previously the banks, who operated as a cartel, would loan out money with a margin approximately 3% over the cost of funds. Once securitised lenders entered the market they were able to use mortgage insurance and securitised mortgages to break the stranglehold of the banks. The result is the typical margin over cost of funds on mortgages in Australia is now 1%.

The other main benefit to the market of securitisation is the recent appearance of lenders like Bluestone who have been able to offer affordable interest rates to non-conforming, and even credit impaired, borrowers on principal and interest loans. Previously such borrowers were limited to private mortgages with fixed terms and fixed interest rates.

whatsup
21-03-2005, 09:35 AM
Anyone can make money in a rising market in a variety of sectors ,its when the market goes sour that the sheep are sorted from the goats ,thats when real skills are necessary ,beware FALLING real estate values will destroy lots of sectors in this economy:Falling tides beach ALL boats(big & small)!!!.

rmbbrave
22-03-2005, 04:06 PM
Mortgage broker NZ Finance said today in response to a stock exchange inquiry that it can't explain its share price rise.

"We note that New Zealand Finance Holdings Limited (NZF) shares were traded this afternoon on the NZSX Market at $1.05 per share," NZX said in a letter dated yesterday but released today.

"This is an increase of 20 cents per share (23.5 per cent), since market close on Friday March 18."

NZ Finance company secretary Malcolm Lindeque responded that the company had nothing to disclose nor had it disclosed anything that explained the price rise.

Shares in NZF traded at 35c when they listed in October last year. They were trading at 80-90c this month until Friday which they jumped. They were rose another 3c to $1.05 today.

In February, NZF agreed to buy Approved Mortgage Brokers (AMB) for $1.2 million by issuing 2.67 million shares at 45c each.

rmbbrave
29-04-2005, 10:10 AM
Jenny Ruth: Different strokes for similar folks


29.04.05


They're both in the mortgage-broking business and they both listed on the stock exchange last year.

But the way the sharemarket has treated New Zealand Finance Holdings and Mike Pero Mortgages couldn't be more different.

Mike Pero shares were issued at $1 in May and are now trading at 60c. That means the company floated at a $25 million value is now considered by the market to be worth only $15 million.

NZ Finance shares were issued at 30c in October and they were trading at $1 yesterday. That values the company at $76.7 million, up from the $20.7 million float value.

An obvious observation is that the Mike Pero float was over-priced and I certainly thought it was.

It was priced at 20.83 times its 2004 earnings and 16.13 times its forecast earnings for the year to this June.

By contrast, NZ Finance shares were issued at 10.3 times its earnings for the year ended March last year.

The two companies had quite different reasons for listing. For Mike Pero's major shareholder, Christchurch businessman George Gould, it was a case of "a quick flick".

He bought the company for $15 million in March last year and floated it in May, valuing it at $25 million - and I've never understood where the extra $10 million came from.

Nevertheless, there were enough investors around to see the float fully subscribed - the company had aimed to raise a minimum $7 million and allowed for over-subscriptions up to $10 million, and got the lot. Gould retained a 54 per cent stake and founder Mike Pero owns 6 per cent.

In NZ Finance's case, its major shareholders were reluctant sellers, so reluctant they even miscalculated the minimum number of shares they had to sell to meet stock-exchange requirements to have at least 25 per cent of the shares held by the general public.

They ended up having only 24.3 per cent held by the public and had to get a waiver from the stock exchange giving them another six months to meet the requirement. A placement to the wealthy Huljich family in February and a share issue to pay for the purchase of Approved Mortgage Brokers this month have solved that problem.

The major part of the share price surge began after the Huljich placement and attendant publicity.

NZ Finance wasn't in any great need for capital either: the float raised only $2.94 million and just $1.65 million of that was fresh capital.

The main reason its three major shareholders wanted to list was to boost their company's status and profile. They put that higher status to good use with the Approved purchase.

(Although Approved's shareholders accepted NZ Finance shares reluctantly, they must be delighted now. Their shares were issued at a nominal 45c, valuing the business at $1.2 million. Those shares are now worth $2.7 million.)

One of those shareholders, NZ Finance managing director John Callaghan, said he would have preferred to sell no shares.

"I've got a long-term view within this industry. I've got a vision as to where I would like to take this."

NZ Finance didn't include a forecast in its prospectus, other than a cashflow projection for the curious period of the 13 months to August next year, when the company is expected to have generated a net $5.24 million from operations.

At the time, the company said it didn't want to go any further into the realm of forecasting than it had to. By mid-December, the directors had mustered the courage to forecast that net profit would exceed $2.5 million for the year to March, a 50 per cent increase on the previous year.

In the event, the company - the first with a March balance date to report its results this year - delivered a 71.2 per cent rise to nearly $2.8 million.

A count against NZ Finance is that it doesn't pay dividends, wanting to keep its capital to fund growth. Callaghan says the company is considering paying a dividend this year but with a reinvestment programme attached, and that the three major shareholders will reinvest their dividends.

Of cou

rmbbrave
04-05-2005, 08:57 AM
quote:Originally posted by rmbbrave





NZF
17/12/2004
FORECAST

REL: 1143 HRS New Zealand Finance Holdings Limited

FORECAST: NZF: New Zealand Finance Holdings forecasts $2.5 million profit

New Zealand Finance Holdings Limited
17/12/04

FORECAST: New Zealand Finance Holdings forecasts $2.5 million profit



Richard Waddel
Chairman of Directors



NZF meets it's forecast.

22 Apr 2005 11:46
FLLYR: NZF: FY to 31/03/2005 $2.786m ($1.627m) +71.2%

LISTED ISSUER: New Zealand Finance Holdings Limited

CONSOLIDATED OPERATING STATEMENT FOR THE FULL YEAR ENDED 31/03/2005

Audited NZ$''000

Current Period; (Previous Corresponding Period)

OPERATING REVENUE

Trading revenue 6,144; 2,460
Other revenue 6,313; 3,968
Total Operating Revenue 12,457; 6,428

OPERATING SURPLUS (DEFICIT) BEFORE TAXATION 4,305; 2,491

Less taxation on operating profit (1,519); (864)

OPERATING SURPLUS (DEFICIT) AFTER TAX 2,786; 1,627

Extraordinary items after tax ; -

Unrealised net change in value of investment properties -; -

NET SURPLUS (DEFICIT) FOR THE PERIOD 2,786; 1,627

Net Surplus (Deficit) attributable to minority interests -; -

NET SURPLUS (DEFICIT) ATTRIBUTABLE TO MEMBERS OF THE LISTED ISSUER
2,786; 1,627

EPS 3.8cps 2.6cps

New Zealand Finance Holdings Ltd Announces Excellent Audited Result.

New Zealand Finance Holdings Limited, today announced a 71.2% increase in
operating profit after tax.

Mr John Callaghan, Managing Director said "We are pleased with the early
release of the audited results, which was achieved through a committed effort
by the team at NZF. These show an after tax profit of $2,785,989 for the year
ended 31 March 2005, being an increase of 71.2% over the corresponding period
last year of $1,627,810."

Mr Callaghan said "Total Operating Revenue lifted 93.8% to $12,457,524 for
the year ended 31 March 2005. Total Assets had also increased from
$40,510,659 to $65,161,827."

Mr Richard Waddell, Chairman of NZF said "it had been an excellent year for
the group and continued the trend of the last 5 years. All divisions have
performed well and we recognise the strong contribution made by all staff."

Mr Waddell said "the group is looking forward to the year ahead with its
focus being on growing its distributions channels and continuing to develop
products and services to offer through these. The year has started well with
the acquisition of Approved Mortgage Brokers by New Zealand Mortgage Finance
Limited on the 5 April 2005."

Mr Callaghan was also pleased with the commitment from the Huljich Family, as
a new cornerstone shareholder, which had assisted in Shareholders Equity
increasing from $3,925,000 as at 31 March 2004, to $10,943,000 as at 31 March
2005.

The Board of Directors have resolved to retain all profit for future growth
and therefore no dividend has been declared, which is in terms of the
dividend policy disclosed in the listing prospectus dated 24 August 2004.
End CA:00114348 For:NZF Type:FLLYR Time:2005-04-22:11:46:53

rmbbrave
04-05-2005, 09:06 AM
The Market Cap is $71,300,010 (at 93 cps) and the Total Assets are $65,161,827.

Price Earnings (PE) is the market price of shares divided by the earnings per share (EPS)

93cents/3.8cps = 24

Is NZF fully priced?

blackcap
04-05-2005, 09:50 AM
quote:Originally posted by rmbbrave

The Market Cap is $71,300,010 (at 93 cps) and the Total Assets are $65,161,827.

Price Earnings (PE) is the market price of shares divided by the earnings per share (EPS)

93cents/3.8cps = 24

Is NZF fully priced?




In my opinion, it is more than fully priced. But then there is good demand and as long as this continues it will hold the price at artificially high levels.

badger
05-05-2005, 09:02 PM
?


[/quote]

In my opinion, it is more than fully priced. But then there is good demand and as long as this continues it will hold the price at artificially high levels.
[/quote]

Blackcap you mug.....its still cheap at these prices!

rmbbrave
25-07-2005, 07:55 PM
Does anyone know why NZF fell 7% today?

Halebop
25-07-2005, 08:56 PM
I don't think they really need a reason at these prices RMBBrave.

Company is a small cap valued at more than it's last published loan book, some 23 times earnings, holds lending exposures at large proportions of equity. A collective set of attributes not for the faint hearted.

badger
25-07-2005, 09:07 PM
quote:Originally posted by Halebop

.

, holds lending exposures at large proportions of equity.


You don't know much about finance companies then Halebop???

Halebop
25-07-2005, 09:11 PM
Enlighten me.

Sky Tower
25-07-2005, 09:14 PM
What is there to know, they borrow, they lend they charge too high interest rates, the money goes round and round, and they live happily ever after

What more is there?

badger
25-07-2005, 09:16 PM
Finance companies do lend in large proportion to their equity...thats how they, and banks, all operate. You will find that NZF has one of the more conservative lending ratios though.

Sky Tower
25-07-2005, 09:18 PM
quote:Originally posted by badger

NZF has one of the more conservative lending ratios though.


Be specific which lending ratio? to what? and give us some comparisons with other finance companies? trading banks?

badger
25-07-2005, 09:20 PM
You got it Sky Tower. Thats exactly why you should be an NZF shareholder.

Sky Tower
25-07-2005, 09:21 PM
i'll keep that in mind. Now answer my OTHER question(s)

Sky Tower
25-07-2005, 09:22 PM
please :D

Halebop
25-07-2005, 09:47 PM
That's a comfort.

In the 80s I also found any "serious" investment company had large equity trading and property development exposures. They must have taken much heart from being part of such a large herd.

The subtext:
...If everyone are taking the same risks, a key failing of the institutional imperative, benchmarking is unlikely to give you a useful barometer.

You will find many bankers aggrieved to be placed in the same category as finance companies. Banks have far greater prudential requirements while at the same time they avoid exposing 50%+ chunks of their equity to individual property risks.

But then you're right. I don't know much about finance companies. So I stick to investing in what I understand.

rmbbrave
18-11-2005, 09:46 AM
New Zealand Finance Holdings Limited (NZF)

NZF announces that:

1. NZF has entered into a Pre-Bid Lock Up Agreement with Gould Holdings Limited (GHL) in relation to the prospective acquisition by NZF of all of the equity securities held by GHL in Mike Pero Mortgages Limited ("MPM") as part of a prospective full Takeover Offer to be undertaken by NZF in respect of all of the equity securities on issue in MPM. The terms of that agreement provide that GHL is, subject to the terms of the Agreement, required to accept the Offer proposed to be undertaken by NZF in respect of all of the equity securities on issue in MPM not later than 3 business days after the date of the dispatch of the Offer by NZF.

2. NZF intends to lodge a Takeover Notice in respect of a full offer for all of the Equity Securities on issue in MPM next week.

3. In respect of the ordinary fully paid shares on issue in MPM, the consideration payable shall be 82 cents per share, payable in cash.

4. In respect of the options on issue in MPM, the consideration payable shall be 2 cents per option, payable in cash.

rmbbrave
18-11-2005, 09:47 AM
Is NZF launching a full takeover for MPM?

moimoi
18-11-2005, 10:16 AM
yes.

rmbbrave
18-11-2005, 06:43 PM
NZ finance launches takeover of Mike Pero
18 November 2005

The controlling shareholder in Mike Pero Mortgages Limited has agreed to sell his shares to New Zealand Finance Holdings Limited as it seeks to take over the company.


NZF has entered into a pre-bid lock up agreement with Gould Holdings Limited (GHL) in which Gould must accept NZF's 82 cents per share offer within three days of a full takeover launch.

GHL - which owns 54 per cent in Mike Pero - is an investment vehicle of Christchurch businessman George Gould.

It recently sold international advertising company iSite - New Zealand's second largest provider of "out-of-home advertising sites" - to Wellington International Airport for an undisclosed sum.

Shares in Mike Pero, issued at $1 in May last year, closed yesterday at 76c.

The stock dropped from 86c in February to a low of 55c in April as banks stopped paying commissions on Mike Pero-brokered mortgages.

This month, Mike-Pero attempted to mollify mildly grumpy, but resigned shareholders at its annual meeting with an upbeat profit report and the company's launch into insurance broking.

AdvertisementAdvertisementNZF - which last month posted a 43.7 per cent increase in first half profit - has said that it intends to launch a takeover next week.

In March, it acquired New Zealand Mortgage Finance.

rmbbrave
26-06-2006, 12:49 PM
26 Jun 2006 11:58
JOINTV: NZF: 50/50 joint venture with Liberty Financial Limited

NZF 26/06/2006 Market Information

New Zealand Finance Holdings Limited (NZF) - Continuous Disclosure Notice

New Zealand Finance Holdings Limited (NZF) announces that it has today
entered into a 50/50 joint venture with Liberty Financial Limited (Liberty)
to make a takeover offer for all of the equity securities in Mike Pero
Mortgages Limited (MPM). Currently, NZF and Liberty, between them, hold or
control 94.6% of the shares in MPM. Details of the transaction are as
follows:

1. NZF and Liberty have entered into a joint venture agreement (JVA) pursuant
to which:

(a) NZF and Liberty have incorporated MPMH Limited (MPMH). The shares in MPMH
are owned 50/50 by NZF and Liberty; and

(b) it is proposed that MPMH will make a takeover offer (Offer) for all of
the equity securities in MPM.

2. The JVA is subject to certain conditions (see paragraph 6 below).

3. Contemporaneously with the entry into the JVA, NZF has agreed the terms of
a 3-way lock-up agreement (Lock-up) with Liberty and MPMH. Under the Lock-up
it is proposed that:

(a) the Takeover Notice in respect of the Offer is to be sent to MPM within
14 days of the date of the Lock-up;

(b) the consideration payable under the Offer in respect of the ordinary
shares in MPM will be $1.10 per share and the consideration payable for the
options on issue in MPM has yet to be determined, but in any event will be
such amount as is determined fair and reasonable by the independent adviser
engaged by MPMH to provide a report under Rule 22 of the Takeovers Code;

(c) Liberty and NZF are, subject to the terms of the Lock-up, required to
accept the Offer no later than 5 days after the date that the Offer is
despatched; and

(d) the Lock-up may be terminated by either NZF or Liberty if MPMH does not
send the Offer to offerees within 44 days of the date of the Lock-up.

4. The proposed offer price for the MPM shares represents a 8c to 10c premium
to the price the MPM shares have recently been trading at. It is proposed
that the Offer will be subject to certain conditions, including a minimum
acceptance condition of 90% which cannot be waived or varied.

5. Contemporaneously with the entry into the JVA, NZF has today also entered
into a business co-operation agreement (BCA) with Liberty, pursuant to which,
subject to certain conditions (see below), NZF and Liberty have agreed to
implement various business arrangements which would see MPM establishing a
securitisation structure to originate "Mike Pero" branded mortgages and,
potentially, other "Mike Pero" branded financial products to be marketed
through the MPM broker network.

6. Each of the BCA and the JVA are conditional upon:

(a) the Offer being sent to offerees by 8 September 2006; and

(b) the Offer becoming unconditional by 10 November 2006.

ENDS

DCski13
06-12-2006, 11:40 AM
Hm, what's going on here! (and without doing any research except to say NZF is ex-div). Can anyone tell me why the share price has fallen 30% since Nov 23.

Steve
17-03-2010, 08:51 PM
*BUMP*

FWIW - Nbr has broken the story that Long Strangle on this thread is in fact Peter Huljich.

For those that care.

Can you post a copy of the story here?

jonu
17-03-2010, 09:26 PM
Read pg 8 of this thread. NBR didn't have to research much!

BFG
25-10-2014, 02:50 PM
Very interesting thinking about recent events.

I notice Mr Joyce's name is at the bottom of recent announcements for NZF and has been very active in updating the market recently.

As a shell, NZF is primed for a new business to be inserted into it (with all the baggage that comes with it...).

And who is a good friend of Mr Joyce via the Snakk backdoor listing in 2013? Why none other than Mr Sorehead of course!

And who now owns 90% of Mega/Baboom after Mr Dotcom neededa new cash injection and was obviously a distressed seller? Sorehead of course!

Despite the rhetoric displayed in the media recently (www.nbr.co.nz best shows it), Mega Baboon has found it very difficult (if not impossible) raising funds from even foreign investors of a paltry $5M. I wouldn't be surprised if the ASX blocked the listing as well.

To compound problems, TRS has delayed the acquisition of Mega multiple times over 2014. In addition, we have seen a recent dearth in trading of the shells shares and complicit sell down at lower prices.

Recent market updates from NZF of talks with a $100M revemue per year company suggest Mega was the target company (thinking about Dotcoms excessive illegal gains). If talks are on with Baboom, it will be much lower.

In conclusion, I would not be surprised if Baboom was backdoor listed into NZF before the end of 2014. How they will consolidate the outstanding notes I do not know but suspect it will be no problem for the bottom dwellers on terms that are suited for massive gains for themselves. I smell a rat, and a HUGE one at that...

BFG

PS - I have also heard of (unsubstantiated claims) Mega users having data wiped from their accounts and email accounts being hacked from foreign lands after signing up. Even if you get a free account with Orcon, REMEMBER WHO YOU ARE DEALING WITH HERE!!! Please be careful out there people.

QOH
26-10-2014, 09:06 AM
Very interesting thinking about recent events.

I notice Mr Joyce's name is at the bottom of recent announcements for NZF and has been very active in updating the market recently.

As a shell, NZF is primed for a new business to be inserted into it (with all the baggage that comes with it...).

And who is a good friend of Mr Joyce via the Snakk backdoor listing in 2013? Why none other than Mr Sorehead of course!

And who now owns 90% of Mega/Baboom after Mr Dotcom neededa new cash injection and was obviously a distressed seller? Sorehead of course!

Despite the rhetoric displayed in the media recently (www.nbr.co.nz best shows it), Mega Baboon has found it very difficult (if not impossible) raising funds from even foreign investors of a paltry $5M. I wouldn't be surprised if the ASX blocked the listing as well.

To compound problems, TRS has delayed the acquisition of Mega multiple times over 2014. In addition, we have seen a recent dearth in trading of the shells shares and complicit sell down at lower prices.

Recent market updates from NZF of talks with a $100M revemue per year company suggest Mega was the target company (thinking about Dotcoms excessive illegal gains). If talks are on with Baboom, it will be much lower.

In conclusion, I would not be surprised if Baboom was backdoor listed into NZF before the end of 2014. How they will consolidate the outstanding notes I do not know but suspect it will be no problem for the bottom dwellers on terms that are suited for massive gains for themselves. I smell a rat, and a HUGE one at that...

BFG

PS - I have also heard of (unsubstantiated claims) Mega users having data wiped from their accounts and email accounts being hacked from foreign lands after signing up. Even if you get a free account with Orcon, REMEMBER WHO YOU ARE DEALING WITH HERE!!! Please be careful out there people.

Does any of that mean I might one day get something back for my notes?

BFG
26-10-2014, 09:12 AM
Does any of that mean I might one day get something back for my notes?

If my theory comes right then yes you may do. And I'd be happy if you did, but I also worry for naive investors jumping into it if it does go ahead!

BFG
07-11-2014, 09:31 AM
Here comes the bride...

https://www.anzsecurities.co.nz/DirectTrade/dynamic/announcement.aspx?id=3744016

BFG
24-11-2014, 08:42 PM
Does any of that mean I might one day get something back for my notes?

Good luck selling your shares when trading commences, you might have a giant Baboon on your back.

Watch this space this week...

BFG
01-12-2014, 09:14 AM
Well well well, looks like Baboom/Mega isn't being backdoor'ed into NZF. Looks like they sucked in s highly speculative "internet of things" company from Canterbury. I can see the Noteholders of NZF "forgiving" the debt very easily now (because if they don't they get nothing anyways).

Hi-ho!




PROSPECTIVE OPERATIONAL AND CAPITAL RESTRUCTURE





As previously advised, the NZF Board has been involved in discussions and


negotiations with the stakeholders of a business about a potential


acquisition of that business, in conjunction with a possible restructure of


the NZF Capital Notes ("Notes") and ordinary shares.





NZF is pleased to announce that it has entered into a conditional agreement


with the stakeholders of Inventory Technologies Limited ("ITL") to acquire


100% of the shares on issue in ITL.





The acquisition will be funded by the issue of NZF ordinary shares.





About Inventory Technologies Limited





Inventory Technologies Limited (ITL) is an "Internet of Things" company based


in Christchurch. ITL is seeking to revolutionise inventory measurement and


management in healthcare internationally. ITL has developed a groundbreaking


proprietary, live, touch sensitive sensor called Cleversense, a technology


that is now ready for commercialisation.





Cleversense is a scalable platform technology that senses the physical


presence of people and user


stock interactions.





Cleversense accurately and reliably measures, monitors and reports on


healthcare inventory movements and stock levels over the internet. Instant


reporting on inventory movements is


provided by a bespoke cloud based software application doing away with the


old method of manual stock taking and introducing valuable efficiencies into


the supply chain.





The first application of the Cleversense is a world first in First Aid called


Clever Medkit. ITL has reinvented the workplace first aid kit adding


intelligence and communications. The first-aid kit was invented in 1890 by


Johnson and Johnson yet until Clever Medkit, the basic design and


functionality of the traditional first-aid kit has remained unchanged and


unchallenged for nearly 125 years.





ITL's Clever Medkit has built-in help giving employees fast assistance in an


emergency. It links to a cloud application monitoring workplace first aid use


and tracks who used it, when it was used, items taken, and assists in


simplifying the restocking procedure.





Clever Medkit presents a global, repeatable and scalable business opportunity


within the established health and safety marketplace. See


www.clevermedkits.com





ITL was honoured to win the coveted 2014 "Best of What's New" award from


Popular Science magazine for the development of Clever Medkit(TM) - which


listed the device amongst the top 100 innovative technologies in the world.





This prestigious international award is the second win in as many months for


ITL. In September, ITL also won the highly prized Canterbury Development


Corporation Innovation Award at the Champion Canterbury Awards in


Christchurch, and received the offer of an injection of $100,000 of new


equity into ITL.





ITL is also in collaborative discussions with a large healthcare provider to


fit Cleversense inventory monitoring into a New Zealand healthcare clinic


during the first quarter of 2015. This is an exciting opportunity for ITL to


demonstrate and validate the Cleversense(TM) technology in medical centres.





Whilst the commercialisation of Clever Medkit and Cleversense remain an


initial priority, the ultimate ambition of ITL is to integrate Cleversense


into hospitals around the world.





ITL is owned by Peter Montgomery and Peter Gillman.





Peter Montgomery will be well known to many share market investors and


commentators as he has an extensive background in the capital markets as the


founder of Mooring Systems Limited (MSL) which listed on the NZSX in 2001.


MSL developed ground-breaking technology with the invention and innovation of


MoorMaster(TM), a shore based automated vacuum mooring systems for large


merchant ships. MSL merged with the Cavotec Group (Holland) in 2007 to form


Cavotec MSL Holdings Limited (NZX:CCC) prior to listing on the NASDAQ OMX


Nordic in October 2011. Montgomery also founded Tradevine Limited, a business


that was acquired my Trade Me in 2012. Peter has an MBA from Massey


University, is a Fellow of the New Zealand Institute of Management and a


Beachhead Advisor with New Zealand Trade and Enterprise.





Peter Gillman has obtained deep experience in safety related industries over


the past 25 years and is the Managing Director of Christchurch based Acardo


Workplace Safety and General Medical Supplies Limited.





ITL does not currently generate any meaningful revenue streams, but the NZF


Board and the executive of ITL believe that the prospects of the business are


strong and the company has a material first mover opportunity to scale and


grow its business internationally.





Principal terms of the acquisition





NZF will acquire 100% of the shares on issue in ITL for $5,000,000 which


consideration will be satisfied by the issue of new NZF shares to the


existing shareholders of ITL.





The acquisition is subject to the following conditions being satisfied:





- NZF obtaining all shareholder approvals required to proceed with the


transaction and the restructure of the Notes;





- NZF obtaining all approvals required from the holders of the Notes to


proceed with the transaction, and to restructure the Notes. Further


information pertaining to the restructure of the Notes is provided below;





- NZF holding not less than $500,000 in net cash (ie cash in bank less the


face value of any liabilities of NZF) on completion of the transaction; and





- NZF entering into suitable arrangements to minimise any potential tax


liability associated with the restructuring of the Notes.





Introduction to Restructure of Notes





The proposed acquisition of ITL will be undertaken in conjunction with the


restructure of the Notes.





In summary the proposed restructuring shall comprise three distinct


components, which are to be undertaken in parallel with each other:





- A combination of a sale of the Notes to NZF for cash, and an exchange of


the Notes for new shares in NZF; and





- The forgiveness of interest that has accrued to date in respect of the


Notes and as yet remains unpaid; and





- The restructure of the ordinary share capital of NZF and the acquisition of


ITL to drive underlying value appreciation in the share capital of NZF


following the completion of the restructure.





The NZF Board in developing this restructuring proposal is seeking to


increase the value of the shares to be issued to the Noteholders by:





- leveraging the residual value of the NZF's shares to be issued to the


Noteholders;





- leveraging the value of NZF's listing; and





- growing the capital value of the underlying share value of NZF's shares by


acquiring a business that will appreciate in value and therefore compound the


growth of the capital value for the Noteholders via their shareholding in


NZF.





The NZF Board considers that the proposed restructure proposal has the


ability to achieve these desired outcomes.





Details of the proposed restructure of the Notes


It is proposed that the Notes held by each Noteholder shall be:





- partly acquired by NZF for cash for approximately 11 cents per Note, or


approximately $2 million in aggregate; and





- partly exchanged at a rate of approximately 89 new ordinary NZF Shares


("Noteholder Shares") for each one Note held. This represents an issue price


per new NZF ordinary share to be issued to a Noteholder of approximately 1


cent per NZF share.





In summary, a Noteholder would therefore receive approximately 11 cents and


89 new ordinary NZF shares for every one Note held as part of this proposal.





Noteholders would also be asked to forgive all accrued but as yet unpaid


interest in respect of the Notes. The rationale for this component of the


Proposal is that any payment of cash or other consideration to the


Noteholders on account of interest accrued on the Notes is likely to be


taxable in the hands of the Noteholders. The Board's view is that it would


not be appropriate to structure the proposal in a way where Noteholders are


to be given a taxable distribution of shares and/or cash on account of


interest given that:





- Noteholders are not going to receive an immediate recovery of the full face


value of their capital investment in the Notes in cash;





- the receipt of any consideration received on account of the satisfaction of


the payment of interest would be likely to be taxable in the hands of the


Noteholders - meaning that the Noteholder would potentially be liable to have


to pay tax in respect of the value of the interest received in cash or in


kind; and





- the Board does not want to create a tax liability for the Noteholders given


the circumstances of the Noteholder's current investment.





Consequences of proposed restructure of Notes





If the proposed restructure is approved by the Noteholders and the existing


NZF shareholders then the following key events shall occur:





- NZF would distribute approximately $2 million of cash to the Noteholders in


aggregate;





- NZF would issue a total of approximately 1,603,713,250 new Noteholder


Shares to the Noteholders in aggregate;





- The share capital of NZF would be consolidated down from approximately


1,713,670,872 shares to 6,000,000 shares, of which the Noteholders would hold


approximately 94% of in aggregate;





- NZF would proceed to acquire 100% of the shares in ITL for $5,000,000 which


sum would be satisfied by the issue of 20 million new ordinary fully paid


shares ("Consideration Shares") at an issue price of 25 cents per share to


the shareholders of ITL.





Assuming the restructure of the Notes, and the acquisition proceed as above,


the capital structure of NZF is anticipated to be as attached.





Documentation to approve the acquisition of ITL, the restructure of the NZF


Capital Notes, and collateral arrangements will be circulated to NZF


Shareholders and NZF Capital Noteholders in due course. It is anticipated


that separate meetings of Noteholders and shareholders will be held during


the course of February 2015.





The NZF Board recommends that NZF Noteholders and NZF shareholders should not


undertake any action in respect of their respective securities that they hold


until such time as NZF is able to those stakeholders will a full suite of


information pertaining to the restructure and the acquisition of the ITL,


including the independent reports





For any inquiries please contact:




Sean Oh'Joy of Joyce, Backdoor Man El Supremo, Chairman of NZF



Email: sean@corporate-counsel.co.nz


Mobile: 021 865 704


End CA:00258286 For:NZF Type:GENERAL Time:2014-12-01 08:30:20

Tony Two Gloves
01-12-2014, 03:49 PM
Yes another quality prediction from Moosie whoops I mean BFG :)

invessi
19-03-2015, 12:31 PM
You may need to eat some humble pie soon

Tony Two Gloves
19-03-2015, 12:43 PM
Why would that be? The prediction was for Mega and now it is Inventory Technologies ?

Regardless some serious haircuts coming up on this one. Still keen for a piece of pie though.......

whatsup
09-06-2017, 02:45 PM
Here we go again, British Virgin Is reg for a part of the intended co, not for me after looking at Bob Deys report !

whatsup
10-07-2017, 02:18 PM
BGL new back door listing

dragonz
23-07-2018, 03:37 PM
Any thoughts on the reverse takeover and BGI's future prospects?

whatsup
14-07-2020, 03:14 PM
Any thoughts on the reverse takeover and BGI's future prospects? Todays best riser !

Tony Two Gloves
14-07-2020, 03:44 PM
Wonder what is going on here? Cant see any reason why this dog has suddenly rolled over, Market cap at $15M for a business with nothing and losing money...

nztx
17-07-2020, 12:20 PM
Another rise today - currently 5.1c on 3.5 m shares through so far


In roughly 10 days, SP has gone from 1.6c up to 5.1 c

macduffy
17-07-2020, 12:54 PM
Why the "International" in BGI?