HGH - Heartland Group Holdings

[percy]

Agreeing with something I didn't say again percy

Increasing the percentage of women will force the replacement of mediocre men ....you know which ones, the ones who are allowed to hang around for far too long.



a sort of reverse meritocracy
The actual staff "numbers" at Heartland Bank have not increased a great deal since it was formed.
However the skill set has.

[winner69]

The actual staff "numbers" at Heartland Bank have not increased a great deal since it was formed.
However the skill set has.

Probably the skill set has improved ........coinciding with a greater emphasis and commitment to diversity (ethnicity and gender). Good eh

Percy, talking of skills what you make of my observation of the Board skills and the apparent relative ‘weakness’ in the areas that are strategically important.

[winner69]

I am sure Jeff will double it next election, just to get another bite from you.!!
He must enjoy your comments as much as I do..!!! ..lol.

ps.The food and drinks will be up to their usual high standard.
pps.Attendees should "well position" themselves between the bar and the kitchen door.

Jeff probably doesn’t read my comments on ST but if he did I’m sure he would enjoy them and take them on board and become more enlightened. I would hazard a guess that he would have you on his ignore list.

But his team seem to take feedback from share holders on board. Diversity is one that seems to have filtered through the network. Isn’t it pleasing to see the Chairman taking such an interest in it. Diversity must be important ....even setting measurable targets.

Expect to see Heartland winning some workplace awards - even one of those Women Employer of the Year ones.

All leads to ‘diversity of thought’ .....making Heartland a better business

[percy]

Probably the skill set has improved ........coinciding with a greater emphasis and commitment to diversity (ethnicity and gender). Good eh

Percy, talking of skills what you make of my observation of the Board skills and the apparent relative ‘weakness’ in the areas that are strategically important.

Not sure.
I am hopeless with paper work taking up SPP's in Aussie.To be frank, I wouldn't know where to start.I just send the email/paperwork to the "office" staff at Craigs who always do it perfectly.Does that make them better investors than me? No, just better office people.
So back to HBL board.Huge amount of experience.Huge amount of their own personnel wealth on the line. Fantastic record of employing the right skilled people.
As a shareholder I could not ask for a better board or management team.Always done what they said they would do.

[percy]

Jeff probably doesn’t read my comments on ST but if he did I’m sure he would enjoy them and take them on board and become more enlightened. I would hazard a guess that he would have you on his ignore list.

But his team seem to take feedback from share holders on board. Diversity is one that seems to have filtered through the network. Isn’t it pleasing to see the Chairman taking such an interest in it. Diversity must be important ....even setting measurable targets.

Expect to see Heartland winning some workplace awards - even one of those Women Employer of the Year ones.

All leads to ‘diversity of thought’ .....making Heartland a better business

I think you are right and I am on Jeff's ignore list.
Had to leave a message on his phone this time, when I rang to thank him for the rights issue, rather than a placement and SPP...lol.

[Snoopy]

At last count I saw ANZ had over $11billion in dairying.
Other big lenders were CBA and BNZ.Not sure about NAB.
So as a % ANZ still leads the field.
KPMG may help you to get your research right.
Rather than try and just compare HBL with ANZ,do the job properly. A half baked effort again.

Percy, if you are talking ANZ.NZ then I have no argument with your figures. In gross terms you are right. In percentage terms you are wrong. Talking dairy to total loans for ANZ.NZ.

$11b /$186b = 5.8%

This is way less than Heartland dairy loan proportion at 10%. I have already checked ANZ against the other Aussie big banks as regards rural lending and they are ahead in both gross in percentage terms.

SNOOPY

[percy]

Snoopy.
Google ,,.kpmg fips...........................financial institution performanc survey.
June 2017 quarterly results.
Compares ANZ,BNZ,CBA,HBL,Kiwi Bank,SBS,Co-Op,TSB and Westpac.


ps Would some kind poster please post the link.

[minimoke]

Try this

https://home.kpmg.com/nz/en/home/med...mg-report.html (https://home.kpmg.com/nz/en/home/media/press-releases/2017/09/banking-sector-profits-relatively-stable--says-kpmg-report.html)
. download on the right

[winner69]

To save finding that link

https://assets.kpmg.com/content/dam/kpmg/nz/pdf/September/KPMG-FIPS-Quarterly-to-June-2017.PDF

Doesn’t say who has greater dairy exposure

[percy]

To save finding that link

https://assets.kpmg.com/content/dam/kpmg/nz/pdf/September/KPMG-FIPS-Quarterly-to-June-2017.PDF

Doesn’t say who has greater dairy exposure

Why.?
Maybe because they don't see it as an issue.?
Interestingly enough, PGW with a dairy exposure of between 22% and 25% don't see it as an issue either.
When I last spoke to Jeff Greenslade and Chris Flood, they didn't see it as an issue.
Pretty sure The Reserve Bank of NZ does not see it as an issue.
I certainly don't.Never have.

ps W69 and minimoke.Thanks for posting the links.

[winner69]

OMG - the CEO did a rave about improving diversity.

Did I hear him say ‘more progress ’ is required to get more females in the Exec team

Good on him

[percy]

OMG - the CEO did a rave about improving diversity.

Did I hear him say ‘more progress ’ is required to get more females in the Exec team

Good on him
If he says it will happen,it will.

[minimoke]

OMG - the CEO did a rave about improving diversity.

Did I hear him say ‘more progress ’ is required to get more females in the Exec team

Good on him
No. It is a backward step and should be ringing alarm bells. The only progress required is the hiring of competent people regardless of sex, race religious beliefs LGBTQIAYHYZ (lets just keep chucking letters onto it) status or whatever is lacking in "diversity"

The big risk when talking like this is hiring (women) beyond their level of ability - that is, promoting to highest level of incompetence.

Much more talk of "diversity" will see me selling HBL, probably at a loss. This talk distracts from their main responsibility which is making me (and you) money.

[winner69]

No. It is a backward step and should be ringing alarm bells. The only progress required is the hiring of competent people regardless of sex, race religious beliefs LGBTQIAYHYZ (lets just keep chucking letters onto it) status or whatever is lacking in "diversity"

The big risk when talking like this is hiring (women) beyond their level of ability - that is, promoting to highest level of incompetence.

Much more talk of "diversity" will see me selling HBL, probably at a loss. This talk distracts from their main responsibility which is making me (and you) money.

......but will ensure they will be getting rid of some mediocre men

[Beagle]

No change to guidance. https://www.youtube.com/watch?v=y7nhxeokLCE

[minimoke]

......but will ensure they will be getting rid of some mediocre men
Excellent - providing they are getting rid of all mediocre people. WHich may not do their "diversity" balance any good.

[suse]

No. It is a backward step and should be ringing alarm bells. The only progress required is the hiring of competent people regardless of sex, race religious beliefs LGBTQIAYHYZ (lets just keep chucking letters onto it) status or whatever is lacking in "diversity"

The big risk when talking like this is hiring (women) beyond their level of ability - that is, promoting to highest level of incompetence.

Much more talk of "diversity" will see me selling HBL, probably at a loss. This talk distracts from their main responsibility which is making me (and you) money.

Diversity is the new buzzword at the mo, no doubt about it. I agree that the only progress required is the hiring of competent people regardless of blah blah blah. However it is reasonably well recognised that unconscious bias may play a part in hiring and preventing people in achieving their true potential.

In your statement re the big risk, I hope what you actually meant to say here is "anyone" rather than "women". We've only got to look around us to see a bunch of old white men in suits doing substandard jobs in some cases. And lets get real, women are being successful in business as well as running a family. Just how often does dad take time off work to stay home and care for the kids when they are sick.

You are clearly not a millenial (neither am I by the way).... they seem to care about this stuff a lot more and I think it is a good thing HBL is looking at diversity. A diverse, happy, talented group of people working together to make me money, that's what I want.

consider this for a mo:
‘A father and son are in a car crash that kills the dad. The son is rushed to hospital; just as he’s about to go under the knife, the surgeon says, “I can’t operate – that boy is my son!”’ Who is the surgeon?

[percy]

's
Diversity is the new buzzword at the mo, no doubt about it. I agree that the only progress required is the hiring of competent people regardless of blah blah blah. However it is reasonably well recognised that unconscious bias may play a part in hiring and preventing people in achieving their true potential.

In your statement re the big risk, I hope what you actually meant to say here is "anyone" rather than "women". We've only got to look around us to see a bunch of old white men in suits doing substandard jobs in some cases. And lets get real, women are being successful in business as well as running a family. Just how often does dad take time off work to stay home and care for the kids when they are sick.

You are clearly not a millenial (neither am I by the way).... they seem to care about this stuff a lot more and I think it is a good thing HBL is looking at diversity. A diverse, happy, talented group of people working together to make me money, that's what I want.

consider this for a mo:
‘A father and son are in a car crash that kills the dad. The son is rushed to hospital; just as he’s about to go under the knife, the surgeon says, “I can’t operate – that boy is my son!”’ Who is the surgeon?

The boy's father.

[mondograss]

's

The boy's father.

Duh, it's the boys Mother!

[percy]

Just read the agm speeches and presentation.
Simple,and spoken in clear language.
HBL know where they are going,and know how they are going to get there.

[Deej5]

consider this for a mo:
‘A father and son are in a car crash that kills the dad. The son is rushed to hospital; just as he’s about to go under the knife, the surgeon says, “I can’t operate – that boy is my son!”’ Who is the surgeon?

So you're saying a mother isn't good enough to be a surgeon? =)

[percy]

consider this for a mo:
‘A father and son are in a car crash that kills the dad. The son is rushed to hospital; just as he’s about to go under the knife, the surgeon says, “I can’t operate – that boy is my son!”’ Who is the surgeon?

So you're saying a mother isn't good enough to be a surgeon? =)
Apologises.trying to do too many things at once..

[suse]

Apologises.trying to do too many things at once..

You're forgiven Percy. But now I hope you understand unconscious bias
In a truly diverse world, some people might have said the boy's other father :)

[minimoke]

Diversity is the new buzzword at the mo, no doubt about it. I agree that the only progress required is the hiring of competent people regardless of blah blah blah. However it is reasonably well recognised that unconscious bias may play a part in hiring and preventing people in achieving their true potential. It is not a company's responsibility to help a person achieve their true potential, The company responsibility is to realise the full potential of their product / service for maximum profitable return to the owners of that company.


In your statement re the big risk, I hope what you actually meant to say here is "anyone" rather than "women". Put whatever diversity label into the brackets. I'm not picking on women.

We've only got to look around us to see a bunch of old white men in suits doing substandard jobs in some cases. Lets be honest. There are heaps of folks regardles of age or gender doing substandard jobs. What about young white mails like Derek Hendley. Or old White Women like Jenny shipley.


And lets get real, women are being successful in business as well as running a family. Just how often does dad take time off work to stay home and care for the kids when they are sick.Oh well, I'm one you cant include in your anecdotal statistic


You are clearly not a millennial (neither am I by the way).... they seem to care about this stuff a lot more That is highly offensive to all those other demographics who care. There is an argument millennials mainly care about themselves.


A diverse, happy, talented group of people working together to make me money, that's what I want. Skilled and competent are at the top of my list.


consider this for a mo:
‘A father and son are in a car crash that kills the dad. The son is rushed to hospital; just as he’s about to go under the knife, the surgeon says, “I can’t operate – that boy is my son!”’ Who is the surgeon?After only a moment I reckon its the sons dead gay dads husband. But I am left wondering why he cant operate.

[Beagle]

No. It is a backward step and should be ringing alarm bells. The only progress required is the hiring of competent people regardless of sex, race religious beliefs LGBTQIAYHYZ (lets just keep chucking letters onto it) status or whatever is lacking in "diversity"

The big risk when talking like this is hiring (women) beyond their level of ability - that is, promoting to highest level of incompetence.

Much more talk of "diversity" will see me selling HBL, probably at a loss. This talk distracts from their main responsibility which is making me (and you) money.

http://www.sharechat.co.nz/article/09e42ce1/heartland-wary-of-global-market-volatility-in-affirming-annual-earnings-forecast.html?utm_medium=email&utm_campaign=Heartland%20wary%20of%20global%20mark et%20volatility%20in%20affirming%20annual%20earnin gs%20forecast&utm_content=Heartland%20wary%20of%20global%20marke t%20volatility%20in%20affirming%20annual%20earning s%20forecast+CID_219c9e6af0ca160869c86e5c032a1e9f&utm_source=Email%20marketing%20software&utm_term=httpwwwsharechatconzarticle09e42ce1heartl and-wary-of-global-market-volatility-in-affirming-annual-earnings-forecasthtml

This talk of diversity is becoming an obsession, I couldn't agree more with you but can't help adding my 3 cents worth. Printing part of the annual report in Maori is something to the best of my knowledge that only one company has ever done. Now they are talking about a major cultural overhaul aimed at ensuring Maori are more represented in the HBL workforce. This reminds me very much of the quota system when I went to Uni. Oh my goodness have we learned nothing ?
Really to me this is bordering right on the edge of obsessive compulsive disorder. It is one thing to embrace cultural and ethnic diversity and quite another to start targeting some sort of implied future quota system. A bridge too far, sold half my holding in disgust.

Political correctness gone absolutely bonkers in my opinion. What's next ? Heartland sets up their own Treaty settlement system with Maori employees because the crown's system isn't good enough ? Whatever happened to hiring the best people for the job regardless of creed, race, sex or religion ? Doesn't hiring the best people and making the most money count anymore ? Has nobody heard of the Peter Principle ? Promote people to higher and higher ranking jobs until they're incompetent at their designated duties ?

Aside from that rant, I see very modest EPS growth this year and the shares still trade above my assessed fair value. Has had a great run but my sense is this is very fully priced especially when you start thinking about some of their latest bizarre management methodologies.

Might sell the rest soon.

[percy]

http://www.sharechat.co.nz/article/09e42ce1/heartland-wary-of-global-market-volatility-in-affirming-annual-earnings-forecast.html?utm_medium=email&utm_campaign=Heartland%20wary%20of%20global%20mark et%20volatility%20in%20affirming%20annual%20earnin gs%20forecast&utm_content=Heartland%20wary%20of%20global%20marke t%20volatility%20in%20affirming%20annual%20earning s%20forecast+CID_219c9e6af0ca160869c86e5c032a1e9f&utm_source=Email%20marketing%20software&utm_term=httpwwwsharechatconzarticle09e42ce1heartl and-wary-of-global-market-volatility-in-affirming-annual-earnings-forecasthtml

This talk of diversity is becoming an obsession, I couldn't agree more with you but can't help adding my 3 cents worth. Printing part of the annual report in Maori is something to the best of my knowledge that only one company has ever done. Now they are talking about a major cultural overhaul aimed at ensuring Maori are more represented in the HBL workforce. This reminds me very much of the quota system when I went to Uni. Oh my goodness have we learned nothing ?
Really to me this is bordering right on the edge of obsessive compulsive disorder. It is one thing to embrace cultural and ethnic diversity and quite another to start targeting some sort of implied future quota system. A bridge too far, sold half my holding in disgust.

Political correctness gone absolutely bonkers in my opinion. What's next ? Heartland sets up their own Treaty settlement system with Maori employees because the crown's system isn't good enough ? Whatever happened to hiring the best people for the job regardless of creed, race, sex or religion ? Doesn't hiring the best people and making the most money count anymore ? Has nobody heard of the Peter Principle ? Promote people to higher and higher ranking jobs until they're incompetent at their designated duties ?

Aside from that rant, I see very modest EPS growth this year and the shares still trade above my assessed fair value. Has had a great run but my sense is this is very fully priced especially when you start thinking about some of their latest bizarre management methodologies.

Might sell the rest soon.

I blame W69's rants for this situation.!...
You will have to invest in a company that is not on his watch list,and keep it to yourself..
After his success with HBL, he will be out of control....lol.

ps.If you have fallen out of love with HBL,please spare us the hate posts.

[horus1]

I thought it was an excellent report. Taking up all the 1/15 and applying for more.

[Beagle]

I blame W69's rants for this situation.!...
You will have to invest in a company that is not on his watch list,and keep it to yourself..
After his success with HBL, he will be out of control....lol.

ps.If you have fallen out of love with HBL,please spare us the hate posts.

I still have a modest stake..was just venting my spleen about the absurdity of managements apparent obsession with diversity. I don't feel the need to repeat the venting process so I am sure you and others will be happy about that. Have to agree that some posters on here also appear to have very strong opinions on the value of diversity. Suppose we all have our various idiosyncrasies and have to accept that and embrace the diversity of opinion on the value of diversity...

[winner69]

I blame W69's rants for this situation.!...
You will have to invest in a company that is not on his watch list,and keep it to yourself..
After his success with HBL, he will be out of control....lol.

ps.If you have fallen out of love with HBL,please spare us the hate posts.

I’m proud to be a shareholder in Heartland, even more so now they have embraced diversity.

Percy, the way you talk about diversity related issues I reckon that you would describe women who are the Chair of Global Women in New Zealand and a member of Chief Executive Women as radical feminists (or something even worse) ......and maybe even think they have no place in the Board Room

I’m sure such people aren’t radical feminists. I think it’s fantastic that women like Vanessa and Ellie are on the Heartland Board. They possibly are making their male colleagues more enlightened. Good on them if this is the case.

Shame that mininoke and beagle feel so aggrieved that they are either considering or have sold their shares. If you happen to believe having radical feminists polluting the Heartland Board you better sell out as well.

Diversity of thought is a great thing.

[couta1]

Sounds like HBL would be right at home in the new but worse South Africa.

[percy]

I’m proud to be a shareholder in Heartland, even more so they have embraced diversity.

Percy, the way you talk about diversity related issues I reckon that you would describe women who are the Chair of Global Women in New Zealand and a member of Chief Executive Women as radical feminists (or something even worse) ......and maybe even think they have no place in the Board Room

I’m sure such people aren’t radical feminists. I think it’s fantastic that women like Vanessa and Ellie are on the Heartland Board. They possibly are making their male colleagues more enlightened. Good on them if this is the case.

Shame that mininoke and beagle feel so aggrieved that they are either considering or have sold their shares. If you happen to believe having radical feminists polluting the Heartland Board you better sell out as well.

Diversity of thought is a great thing.

Right time to clear the air.What is my history with women,.
Having owned and worked in the motor industry,toy shops,and book shops, I can tell you if shops were left with only men to run them, they would go broke.Clueless owners with limited skills.
One of the most satisfying things I have witnessed is women coming back into the work force, after they have their children off their hands.To start off with they have no confidence,and watching them gain confidence and skills is rewarding.One ChCh lawyer whose wife worked for me, rang me and thanked me for "giving him back the girl he married."
As for women as directors I have seen a good number,particulary at SCY and EBO.Never a dummy.
So yes I value women.
Back to HBL.I see them acknowledging their roll in the community.Chairman Geoff Ricketts,deputy chair Bruce Irvine,and fellow board members have great pride in the success Heartland Bank is.Right from the start they set strong moral and community standards.They also realised to be successful Heartland had to be very profitable,to safeguard lenders and staff,and to offer security to borrowers,and shareholders.
As the business has evolved,so has the need for people with digital/online skills.Good good opportunities for people with the required skills.

[winner69]

Right time to clear the air.What is my history with women,.
Having owned and worked in the motor industry,toy shops,and book shops, I can tell you if shops were left with only men to run them, they would go broke.Clueless owners with limited skills.
One of the most satisfying things I have witnessed is women coming back into the work force, after they have their children off their hands.To start off with they have no confidence,and watching them gain confidence and skills is rewarding.One ChCh lawyer whose wife worked for me, rang me and thanked me for "giving him back the girl he married."
As for women as directors I have seen a good number,particulary at SCY and EBO.Never a dummy.
So yes I value women.
Back to HBL.I see them acknowledging their roll in the community.Chairman Geoff Ricketts,deputy chair Bruce Irvine,and fellow board members have great pride in the success Heartland Bank is.Right from the start they set strong moral and community standards.They also realised to be successful Heartland had to be very profitable,to safeguard lenders and staff,and to offer security to borrowers,and shareholders.
As the business has evolved,so has the need for people with digital/online skills.Good good opportunities for people with the required skills.


Good on you percy giving those women a chance to show what they can do. Is rewarding

Yes that Heartland Trust does a lot of good work as well

[winner69]

Now that Heartland have embraced diversity I need to ask them if they have a Sustainability Strategy

While a lot of their Heartland Trust stuff and diversity addresses the area of societal cnage I am interested to hear what if anything they do in respect of environmental issues and creating sustainable futures for the community.

Could be interesting what they come up with,



Westpac take great pride in being the worlds most sustainable bank in the Dow Jones Sustainability Index

[percy]

Yes always a very good wine.
Trust this year's agm will be live to watch.With what I save on airfares I may shout myself a nice Shiraz or Sav Blanc,or two.
Their presentations are usually very comprehensive,and outline very clearly where they are headed.
With so much capital raised this year, the very strong organic growth must be set to continue.Last time I spoke to Chris Flood he told me "bad debts" on "open for business" loans were running below budget.Be interesting if this is still the case.Also be interested to see if nim has recovered.Was growing strongly.Watch for comments on Australian "open for business" success/failure.[at present run out of Auckland].

AGM.
Direction.Very clear presentation covers where they are going. and how they are getting there.
I take it "bad debts" are still tracking below budget,as is the case for all banks.
Australia.I think the following gives an indication they are on course.;"For small business finance,we have the largest SME platform in NZ,and our aim is to have one of the largest in Australia."

[minimoke]

Shame that mininoke and beagle feel so aggrieved that they are either considering or have sold their shares. If you happen to believe having radical feminists polluting the Heartland Board you better sell out as well.

Diversity of thought is a great thing.If it is industry best practice amongst high performing banks to have radical feminists on the Board or senior management positions then I am all for it. If not they should stay in the kitchen

[Beagle]

http://www.sharechat.co.nz/article/186e3e12/dairy-product-prices-slide-for-fourth-straight-auction.html?utm_medium=email&utm_campaign=Dairy%20product%20prices%20slide%20fo r%20fourth%20straight%20auction&utm_content=Dairy%20product%20prices%20slide%20for %20fourth%20straight%20auction+CID_70d7a379355eec3 2f04ee6ee80e9102d&utm_source=Email%20marketing%20software&utm_term=httpwwwsharechatconzarticle186e3e12dairy-product-prices-slide-for-fourth-straight-auctionhtml

I reckon we are overdue to add some more diversity to the discussion rather than just talking about diversity. Fourth straight decline in GDT prices. Didn't Winner have some theory regarding the remarkable correlation between GDT and HBL share prices ? Can't help wondering if the $2 the other day was the top for the foreseeable future ?

[winner69]

Jeff said they while NZ economy remains ‘favourable’ international markets ‘are prone to event driven volatility’ and so we need to be ‘cautious and watchful in terms of exposure to global markets.’

Some risk ....stocks trading a high multiples more exposed to big falls if things do turn for the worse.


sounds like he has been listening to Winston and he is a National supporter - getting confused?

[percy]

Jeff said they while NZ economy remains ‘favourable’ international markets ‘are prone to event driven volatility’ and so we need to be ‘cautious and watchful in terms of exposure to global markets.’

Some risk ....stocks trading a high multiples more exposed to big falls if things do turn for the worse.


sounds like he has been listening to Winston and he is a National supporter - getting confused?

W69 you and Beagle are getting sidetracked again.
The most important indicator,is the standard of the wine and tucka served at the agm.
According to my reports,they were excellent....lol.

[Beagle]

W69 you and Beagle are getting sidetracked again.
The most important indicator,is the standard of the wine and tucka served at the agm.
According to my reports,they were excellent....lol.

https://www.youtube.com/watch?v=cbBx4Ql6Umo Back to sore to drive in and enjoy yesterday...one word covers this as said by the dog.

[winner69]

AGM.
Direction.Very clear presentation covers where they are going. and how they are getting there.
I take it "bad debts" are still tracking below budget,as is the case for all banks.
Australia.I think the following gives an indication they are on course.;"For small business finance,we have the largest SME platform in NZ,and our aim is to have one of the largest in Australia."


You are getting sidetracked again Percy

The most important indicator at the AGM is the standard of the wine and tucka .....not bad debts it SMEs

[percy]

http://www.sharechat.co.nz/article/186e3e12/dairy-product-prices-slide-for-fourth-straight-auction.html?utm_medium=email&utm_campaign=Dairy%20product%20prices%20slide%20fo r%20fourth%20straight%20auction&utm_content=Dairy%20product%20prices%20slide%20for %20fourth%20straight%20auction+CID_70d7a379355eec3 2f04ee6ee80e9102d&utm_source=Email%20marketing%20software&utm_term=httpwwwsharechatconzarticle186e3e12dairy-product-prices-slide-for-fourth-straight-auctionhtml

I reckon we are overdue to add some more diversity to the discussion rather than just talking about diversity. Fourth straight decline in GDT prices. Didn't Winner have some theory regarding the remarkable correlation between GDT and HBL share prices ? Can't help wondering if the $2 the other day was the top for the foreseeable future ?

Maybe a few people are taking advantage of the arbitrage,selling the same number of shares they are entitled to in the rights issue,at $1.95 plus, and replacing the same number with the $1.70 rights issue shares.
I know I did,[at the plus figure].
Now I will have to decide whether to apply for extra shares,or not.

[davflaws]

No. It is a backward step and should be ringing alarm bells. The only progress required is the hiring of competent people regardless of sex, race religious beliefs LGBTQIAYHYZ (lets just keep chucking letters onto it) status or whatever is lacking in "diversity"

The big risk when talking like this is hiring (women) beyond their level of ability - that is, promoting to highest level of incompetence.

Much more talk of "diversity" will see me selling HBL, probably at a loss. This talk distracts from their main responsibility which is making me (and you) money.

Have you considered that one of the criteria for competence might be to be able to understand and provide information about the particular word view, perceptual set, and attitudes of a specific group of customers. Since nearly half Heartland's customer base are women, it seems to me that that is itself a good reason for gender diversity, leaving aside the other advantages(which seem well established and include response to change, collaborative management, and ability to keep their egos under control) that women bring to the boardroom.

[minimoke]

Have you considered that one of the criteria for competence might be to be able to understand and provide information about the particular word view, perceptual set, and attitudes of a specific group of customers. Since nearly half Heartland's customer base are women, it seems to me that that is itself a good reason for gender diversity, leaving aside the other advantages(which seem well established and include response to change, collaborative management, and ability to keep their egos under control) that women bring to the boardroom.
Anyone who can understand women gets my tick of approval.

[Beagle]

Sorry Percy I just have to get this off my chest. What is with their obsession with regard to ensuring the number of Maori staff is more fairly representative of the N.Z. population ? Do we assume that Heartland have conducted a full analysis of all other ethnicities and found that all other cultures and races are fairly represented already or is this just blatant racism in favor of Maori ? Please...I have no axe to grind with Maori but what is it with some sort of implied intake quota system going forward ?
On my one trip into Heartland to open my call account I did not see any of our Asian friends in the reception area and yet they make up a far higher proportion of the population now in New Zealand than Maori and why isn't part of the annual report translated into various Asian languages ? If I was to has at a guess I would say the proportion of Asian investors as shareholders and customers with accounts would be higher for Asian clients but they don't get the annual report translated into their language, why not ? Where does this political correctness end ? Why are they bending over backwards to be politically correct to Maori and not to our Asian friends or other ethnicities ? Perhaps you could give them a call and shed some light on their thinking on this ? I really don't get it...it just seems very very strange ?????

Wish I could have gone to the annual meeting and asked the directors as part of general business in the public meeting...that would have been interesting.
Must make a determined point to go next year and ask the hard question.

[percy]

Sorry Percy I just have to get this off my chest. What is with their obsession with regard to ensuring the number of Maori staff is more fairly representative of the N.Z. population ? Do we assume that Heartland have conducted a full analysis of all other ethnicities and found that all other cultures and races are fairly represented already or is this just blatant racism in favor of Maori ? Please...I have no axe to grind with Maori but what is it with some sort of implied intake quota system going forward ?
On my one trip into Heartland to open my call account I did not see any of our Asian friends in the reception area and yet they make up a far higher proportion of the population now in New Zealand than Maori and why isn't part of the annual report translated into various Asian languages ? If I was to has at a guess I would say the proportion of Asian investors as shareholders and customers with accounts would be higher for Asian clients but they don't get the annual report translated into their language, why not ? Where does this political correctness end ? Why are they bending over backwards to be politically correct to Maori and not to our Asian friends or other ethnicities ? Perhaps you could give them a call and shed some light on their thinking on this ? I really don't get it...it just seems very very strange ?????

Wish I could have gone to the annual meeting and asked the directors as part of general business in the public meeting...that would have been interesting.
Must make a determined point to go next year and ask the hard question.

Pity you missed the good tucka and wine.
I enjoyed a nice Shiraz at home just to get in the spirit of things.
Perhaps you should ask Noodles to organise Jeff Greenslade and Chris Flood, doing a presentation for Auckland NZSA.
They usually open up a bit more at these presentations.
I do find it hard trying to criticise Heartland, when they have done everything they said they would do.

[Beagle]

Pity you missed the good tucka and wine.
I enjoyed a nice Shiraz at home just to get in the spirit of things.
Perhaps you should ask Noodles to organise Jeff Greenslade and Chris Flood, doing a presentation for Auckland NZSA.
They usually open up a bit more at these presentations.
I do find it hard trying to criticise Heartland, when they have done everything they said they would do.

Is that code for, I do find it hard to be objective ? lol. Surely you can take the rose tinted glasses off for one minute and post what you really think about this diversity obsession or perhaps we leave it to Winner to explain it too us in detail ? Perhaps your idea for the NZSA meeting is best...I'll warm up the BBQ for a thorough grilling :)

[percy]

Is that code for, I do find it hard to be objective ? lol. Surely you can take the rose tinted glasses off for one minute and post what you really think about this diversity obsession or perhaps we leave it to Winner to explain it too us in detail ? Perhaps your idea for the NZSA meeting is best...I'll warm up the BBQ for a thorough grilling :)

I think on this thread I have the record of being the most objective poster.....??!!!..lol.
Diversity,and other W69 issues.Heartland have laid very solid foundations,to be built on.They will add richness of people and skills to benefit the whole business.We have noticed this evolving already at board and management levels. Staff numbers are only 360 people.The skill set of staff has changed a lot, to meet the digital model HBL have adopted.l I really think getting obsessive about these issues takes your mind off HBL's core achievements.
Heartland is still only a very small bank.Each sector they are in has plenty of growth,so the future looks sound.
Back to being objective.I follow the companies I invest in closely.They perform,I buy more,they do not meet my "thesis" I sell.Being objective means I am always "well positioned."

[Beagle]

I suspect this talk of diversity is nothing more than a great big pile of public relations B.S....a bit like AIR and all their talk of electric vehicles, (which in a whole year the whole lot of them combined saves less fuel than filling one Dreamliner once lol). Far more PC to talk about these sort of things than talk about how they're going to expand their margins and make more money...not politically correct to talk about being greedy capitalist pigs is it :) Yeah I agree they have a good record and a sound business...all fully priced in.

[blockhead]

I thought it was an excellent report. Taking up all the 1/15 and applying for more.


Blockhead has been away and a bit busy so isn't up to date with 1/15 details, is there likely to be a pool available to get a few more ??

[percy]

Blockhead has been away and a bit busy so isn't up to date with 1/15 details, is there likely to be a pool available to get a few more ??

Yes...........................................

[weasel]

"The offer document, entitlement and acceptance form and a letter to ineligible shareholders are also attached and will be sent to shareholders by 22 November 2017."

Has anyone received the letter(s)? I have all comms sent online, but haven't received anything.

[weasel]

"The offer document, entitlement and acceptance form and a letter to ineligible shareholders are also attached and will be sent to shareholders by 22 November 2017."

Has anyone received the letter(s)? I have all comms sent online, but haven't received anything.

And then 15 minutes after I post.. the documents arrive. It's like they are reading this forum.... :-O

[Food4Thought]

And then 15 minutes after I post.. the documents arrive. It's like they are reading this forum.... :-O

Received and submitted. I'm in and give me a few spare ones too please. That's my seasonal present to myself.... perhaps a bit early... not really into shopping

[winner69]

Sorry Percy I just have to get this off my chest. What is with their obsession with regard to ensuring the number of Maori staff is more fairly representative of the N.Z. population ? Do we assume that Heartland have conducted a full analysis of all other ethnicities and found that all other cultures and races are fairly represented already or is this just blatant racism in favor of Maori ? Please...I have no axe to grind with Maori but what is it with some sort of implied intake quota system going forward ?
On my one trip into Heartland to open my call account I did not see any of our Asian friends in the reception area and yet they make up a far higher proportion of the population now in New Zealand than Maori and why isn't part of the annual report translated into various Asian languages ? If I was to has at a guess I would say the proportion of Asian investors as shareholders and customers with accounts would be higher for Asian clients but they don't get the annual report translated into their language, why not ? Where does this political correctness end ? Why are they bending over backwards to be politically correct to Maori and not to our Asian friends or other ethnicities ? Perhaps you could give them a call and shed some light on their thinking on this ? I really don't get it...it just seems very very strange ?????

Wish I could have gone to the annual meeting and asked the directors as part of general business in the public meeting...that would have been interesting.
Must make a determined point to go next year and ask the hard question.

Beagle, how I see it. Seems Jeff’s rave about improving Maori numbers in Heartland is his way of diverting discussion about gender diversity.

I reckon as a typical male chauvinist he is really uncomfortable with these female directors pushing the gender diversity agenda so he does a Percy and changes the subject and talks about Maoris instead.

Go Vanessa and Ellie, keep at it - you are doing well

[oldtech]

Although the price for the 1/15 Rights issue is set at $1.70, that's not necessarily true for the additional shares you can apply for. From the Offer Document:

"The Bookbuild Price will be determined by Heartland and the Lead Manager, but will be no less than the Issue Price of $1.70 per New Share and no greater than the close price prior to the day of the bookbuild. The Bookbuild Price will be influenced by the level of demand for New Shares from Institutional Investors at various prices."

So as I read it, if you apply for additional shares over and above the ones you're entitled to, you could be paying anywhere between $1.70 and $1.95 or more, depending on demand - which is probably going to be quite high I imagine.

[Cricketfan]

Quick question about the rights offer. When paying by direct debit, what date will the DD occur?

[777]

Quick question about the rights offer. When paying by direct debit, what date will the DD occur?

Probably the day your apply. It will be written there somewhere.

[iceman]

Although the price for the 1/15 Rights issue is set at $1.70, that's not necessarily true for the additional shares you can apply for. From the Offer Document:

"The Bookbuild Price will be determined by Heartland and the Lead Manager, but will be no less than the Issue Price of $1.70 per New Share and no greater than the close price prior to the day of the bookbuild. The Bookbuild Price will be influenced by the level of demand for New Shares from Institutional Investors at various prices."

So as I read it, if you apply for additional shares over and above the ones you're entitled to, you could be paying anywhere between $1.70 and $1.95 or more, depending on demand - which is probably going to be quite high I imagine.

That's the way I read it too so not applying for more than my entitlement

[iceman]

Quick question about the rights offer. When paying by direct debit, what date will the DD occur?

The application form says "you must pay in full upon application" so a DD will occur on the day you lodge your application with them

[percy]

That's the way I read it too so not applying for more than my entitlement

That's all we are applying for too.

[Jay]

Probably the day your apply. It will be written there somewhere.

Just make sure the account you nominate can accept Direct Debits, remember from the Mighty River Power I think it was , quite a few nominated a savings account that could not accept DD's

[Snoopy]

Quick question about the rights offer. When paying by direct debit, what date will the DD occur?


The day before you start to suffer from 'buyer top up regret'.

SNOOPY

[RTM]

The day before you start to suffer from 'buyer top up regret'.

SNOOPY
Really not sure why anyone could suffer from that Snoopy. I could today sell the equivalent of my top up quantity and be nicely ahead. Not going to tho, happy to continue to accumulate.

[iceman]

According to NBR, Reuters reported this week that HNA (buyer of UDC) has requested a 3 months extension on a HK$3.5 Billion debt due for repayment on Friday. Their financial concerns continue and meantime ANZ maintains the UDC deal is on track with them continuing to work through the process and regulatory approvals required. Will this deal go through ? Looking very questionable in my view.

[Cricketfan]

The application form says "you must pay in full upon application" so a DD will occur on the day you lodge your application with them

Applied yesterday and DD didn't go through. Wish they were a bit more specific about that so you know when to move money around!

[iceman]

Applied yesterday and DD didn't go through. Wish they were a bit more specific about that so you know when to move money around!

I agree. Normally the money is taken out immediately. I also applied online y'day but money was not taken out.

[777]

I will apply on the last day. What if there was a large market correction before then and the head share drops to to less than 1.70.

[janner]

I will apply on the last day. What if there was a large market correction before then and the head share drops to to less than 1.70.

Cest la vie ...

[Food4Thought]

I will apply on the last day. What if there was a large market correction before then and the head share drops to to less than 1.70.

I thought about this too... for me I see more benefit in not having to waste time as I know that I want them and don't want to have any (even though minor) unexpected issues. Guess I am positive about the long term and believe in a positive outcome regardless.

[RGR367]

.. Guess I am positive about the long term and believe in a positive outcome regardless.

Really a food for your thought there F4T :)

[Snow Leopard]

HBL e-paper work done and dusted.

Nice to know, for a change, that you are getting all you pay for, instead of most of your money boomeranging.

But not going into the auction for more.

Best Wishes
Paper Tiger

[axe]

Haha this made me smile. :). I also did my paper work today but couldn't resist asking for a few extra.


HBL e-paper work done and dusted.

Nice to know, for a change, that you are getting all you pay for, instead of most of your money boomeranging.

But not going into the auction for more.

Best Wishes
Paper Tiger

[Southern_Belle]

I will apply on the last day. What if there was a large market correction before then and the head share drops to to less than 1.70.Changes to the OfferSubject to the Listing Rules, Heartland reserves theright to alter the dates set out in this Offer Document.

Have been caught out before when the closing date for the offer was bought forward due to high levels of interest. The early bird catches the worm

[blockhead]

Blocky was thinking of asking for a few more than 1/15 entitlement.....but what price to offer for them ?????

[Under Surveillance]

Blocky was thinking of asking for a few more than 1/15 entitlement.....but what price to offer for them ?????
You don't get to choose. You nominate the dollars you want to spend on the extras and the price for each extra will be set by a bookbuild within the limits 170 and whatever the price is at D Day minus 1. So, the big end of town decides.

[blockhead]

Just studying the offer docs, seems the only thing you could be sure of is; the price will be no less than $1.70 and no more than the market price on decision day, you could end up with 100k worth of new shares @ $1.97 !

Would like to think a wee premium might eventuate

[RTM]

Just studying the offer docs, seems the only thing you could be sure of is; the price will be no less than $1.70 and no more than the market price on decision day, you could end up with 100k worth of new shares @ $1.97 !

Would like to think a wee premium might eventuate

If all shareholders take up their full allocation, then will any be any pool of additional shares ? I have not applied for additional, already overweight in Heartland !

[bullfrog]

https://i.stuff.co.nz/business/99108960/recovery-of-12m-shortfall-at-failed-hydroworks-unlikely

“Among the 20 secured HydroWorks creditors owed $5m were Powerhouse, Heartland Bank, Mace Engineering, Steel & Tube, Dorchester Finance, Ricoh Finance, and Financial Synergy. Unsecured creditors are owed $7.5m.”

Dissapointed to see heartland in that sentence, hardly a magnificent seven of sensible investing.

[weasel]

Anyone (from knowledge based on similar offers in the past) willing to make a prediction as to whether the price of additional rights will be signficanlty below market price. Hypothetically if someone were to have a large amount of dosh lying around and obtained a large bundle, would there be an opportunity for a dump at market?

[minimoke]

https://i.stuff.co.nz/business/99108960/recovery-of-12m-shortfall-at-failed-hydroworks-unlikely

“Among the 20 secured HydroWorks creditors owed $5m were Powerhouse, Heartland Bank, Mace Engineering, Steel & Tube, Dorchester Finance, Ricoh Finance, and Financial Synergy. Unsecured creditors are owed $7.5m.”

Dissapointed to see heartland in that sentence, hardly a magnificent seven of sensible investing.
Their exposure may not be great. Looks like its loans were for 2 motor vehicles (which have sold at auction) and provided they are on the PPSR register should be able to minimise loss.

[silu]

fwiw my rights application was taken out of my bank account overnight.

[Food4Thought]

Fwiw my right application was attempted but I had put a savings account down. Have corrected and imagine will be withdrawn today. very happy. Summers coming!

[blockhead]

I have not seen any posts indicating people are going to apply for shortfall shares, that interests me as the worse thing to happen is you will end up with more shares at market price or maybe a discount, seems worth the risk to me, its not a bad share to hold if you pay no more than the going price surely ???
Or maybe people tend to think HBL is fully priced or over priced at the moment ?

[fish]

I have not seen any posts indicating people are going to apply for shortfall shares, that interests me as the worse thing to happen is you will end up with more shares at market price or maybe a discount, seems worth the risk to me, its not a bad share to hold if you pay no more than the going price surely ???
Or maybe people tend to think HBL is fully priced or over priced at the moment ?

probably lots reasons-eg xmas is a time when people have a different focus and don't like to mess with uncertainty

[dabsman]

I have not seen any posts indicating people are going to apply for shortfall shares, that interests me as the worse thing to happen is you will end up with more shares at market price or maybe a discount, seems worth the risk to me, its not a bad share to hold if you pay no more than the going price surely ???
Or maybe people tend to think HBL is fully priced or over priced at the moment ?

I applied for the shortfall - the less people the better for me as it will bring the bookbuild closer to $1.70 I'd assume? I could have it all wrong but that is how I see it

[winner69]

Should see 2 bucks before the rights issue closes shouldn’t we

Strange F18 guidance hasn’t been raised for a while. Sort of says all this new capital (bonds as well as this capital raise) not generating anything extra

Yeah right .....when they say $62m plus profit for F18 the share price will take off...big time


Better to be in early than late .....now a good time to buy

[minimoke]

I have not seen any posts indicating people are going to apply for shortfall shares,
I havn't. I am new to HBL and need them to prove their worth before I put extra money in. I'm down 1% - nothing to get worried about but I want more time. I did take up the rights though. There is only so much cash I'm prepared to throw at the dart board.

[blockhead]

Should see 2 bucks before the rights issue closes shouldn’t we

Strange F18 guidance hasn’t been raised for a while. Sort of says all this new capital (bonds as well as this capital raise) not generating anything extra

Yeah right .....when they say $62m plus profit for F18 the share price will take off...big time


Better to be in early than late .....now a good time to buy

Rights to 1/15 has already passed Winner (17th Nov) unless I'm mistaken

[winner69]

Rights to 1/15 has already passed Winner (17th Nov) unless I'm mistaken

Yeah I know

Was trying to say get in early before the shareprice rockets over $2 or before the profit upgrade

[HITMAN]

I took on the rights issue, and applied for the shortfall. Not sure where it'll end up, but going well so far.

[ziggy415]

still havent recieved any info yet....still using snail mail....must learn to do it electroniclly

[minimoke]

Got my nice welcome letter from HBL directors. They got a dividend reinvestment plan so I've decided to have me a bit of that as well.

[777]

still havent recieved any info yet....still using snail mail....must learn to do it electroniclly

I would be chasing it up if you have not yet received it.

[minimoke]

I would be chasing it up if you have not yet received it.
Good advice. I only bought HBL on 15 Nov so a new holder. But I have received and sent of my form already.

[percy]

still havent recieved any info yet....still using snail mail....must learn to do it electroniclly

I would ring/email them today.
Phone 09 375 5998
email enquires@linkmarketservices.co.nz
Quote your CSN .

[ziggy415]

had hoped you guys would have said not recieved yours either...days off tommorrow so will chase it along...many thanks

[percy]

BINGO....!!!!
Full House......!!!!!!.
HBL $2.00.....!!!!!

[stones]

BINGO....!!!!Full House......!!!!!!.HBL $2.00.....!!!!!

Nah. Glass half full

[percy]

Nah. Glass half full

LOL.So very right..!!!

[winner69]

Should see 2 bucks before the rights issue closes shouldn’t we

Strange F18 guidance hasn’t been raised for a while. Sort of says all this new capital (bonds as well as this capital raise) not generating anything extra

Yeah right .....when they say $62m plus profit for F18 the share price will take off...big time


Better to be in early than late .....now a good time to buy

....and guidance to come some time so don't miss out

Nice round number is 200 eh ....if it plays out to plan 200 will become a solid support level for a while ....once it's settled over 200 well never see a 1something price again

Heck 220 by Christmas and when brokers put HBL in their picks for 2018 it will take off again ....those picks always good for a rise in the quiet holiday periods

Wow

[Snow Leopard]

Who needs to speculate in crypto-currencies when you have Heartland shares?

Best Wishes
Paper Tiger

[winner69]

Who needs to speculate in crypto-currencies when you have Heartland shares?

Best Wishes
Paper Tiger

.....but just imagine if Heartland was the first Bank to issue its own crypto ....after all it is digital and fits well with their strategy

[Snow Leopard]

.....but just imagine if Heartland was the first Bank to issue its own crypto ....after all it is digital and fits well with their strategy

$4 by tea time tomorrow !!

Ooh! I suddenly come over all irrational !

[percy]

$4 by tea time tomorrow !!

Ooh! I suddenly come over all irrational !

That will be a lot quicker than the 3 years 2 months we have had to wait for HBL's sp to double, from $1.00 to $2.00.

[Snow Leopard]

I think you guys might be getting a little carried away. Index rebalancing today at the close might have been the factor affecting the closing price.


https://www.youtube.com/watch?v=hnzHtm1jhL4

Best Wishes
Paper Tiger

[percy]

Just had an email from a local Christchurch investor identity.
"Two -thirds there.""!!
He was just reminding me, that sometime ago, I promised I would shout him and his wife out for diner, when HBL reached $3.00.!
Think I am looking forward to it as much as they are.!

[LAC]

Wonder when that will be. I got in a very small parcel yesterday, first HBL purchase, lets see now it goes;)

[suse]

Have just started on my exit strategy so quite pleased with pricing. Although it pains me to sell these, I will need the money soon. If only some of my dogs would revive a bit I could ditch them and hang on to hbl.

[minimoke]

Wonder when that will be. I got in a very small parcel yesterday, first HBL purchase, lets see now it goes;)
You and me both be newbies to HBL. I bought 2 weeks ago. Bit of a rocky start with the dreaded red down arrow next to it. But I got the Options. Now I have a lovely little blue up arrow with the options yet to come. Early days - I have a 5 year horizon.

[percy]

Wonder when that will be. I got in a very small parcel yesterday, first HBL purchase, lets see now it goes;)

It will be at 10.15 am on Wednesday the 15th May 2019,when HBL announce a record 9 month profit, and upgrade their full year projections, well above what they and the market were expecting.

[777]

Have just started on my exit strategy so quite pleased with pricing. Although it pains me to sell these, I will need the money soon. If only some of my dogs would revive a bit I could ditch them and hang on to hbl.

Ditch the dogs.

[Snow Leopard]

Have just started on my exit strategy so quite pleased with pricing. Although it pains me to sell these, I will need the money soon. If only some of my dogs would revive a bit I could ditch them and hang on to hbl.

A $ is a $ whether you get it from a dead dog or a lively cat.

[suse]

Ditch the dogs. I’m kind of hoping the dog will recover a bit first. It’s always hard to cut your losses.

[BlackPeter]

I’m kind of hoping the dog will recover a bit first. It’s always hard to cut your losses.

Is the dog more likely to to recover than your "star" is likely to keep flying?

While you are right - it is hard to cut losses, it is normally much wiser than cutting your future gains!

KW had some saying about buying in downtrends and the same thing applies (within reason) about selling in uptrends ...

Obviously - DYOR - someones dog might be someone else's hero ;);

[suse]

Is the dog more likely to to recover than your "star" is likely to keep flying?

While you are right - it is hard to cut losses, it is normally much wiser than cutting your future gains!

KW had some saying about buying in downtrends and the same thing applies (within reason) about selling in uptrends ...

Obviously - DYOR - someones dog might be someone else's hero ;);

I appreciate all the sage advice from everyone. You will no doubt be pleased to know I am taking up my rights at least. :) Now all I need to do is transfer the sales of HBL so far, (only sold half my shareholding) from my non interest bearing account into my heartland bank account and learn to sit on my hands and not invest any money anywhere else no matter how good it seems. (the sitting on hands may not be as simple as it sounds)

[tipsy]

Man, I missed it hitting $2, thought I better sign up for the rights issue today!

[ziggy415]

Man, I missed it hitting $2, thought I better sign up for the rights issue today!
Managed to do mine on line yesterday because the snail mail still not arrived....just got to find the 25 grand now...still worth it with the rights versus the sp

[minimoke]

If HBL's banking services are as efficient as the way they handle direct debits then things can only be positive. It must have been pretty much as soon as my form arrived on a desk the money came out of my account.

[percy]

If HBL's banking services are as efficient as the way they handle direct debits then things can only be positive. It must have been pretty much as soon as my form arrived on a desk the money came out of my account.

Yes well we all would like to agree with you,however it is not HBL who is quick on the withdrawal,but Link Market Services.

[minimoke]

Yes well we all would like to agree with you,however it is not HBL who is quick on the withdrawal,but Link Market Services.
Having good business partners is half the secret to companies success.

[winner69]

Seeing Heartland leading the way on the diversity front they should lead the way in NZ with real employee engagement as well.

In Britain there shortly will be ‘comply or explain’ rules in the UK Corporate Governance Code, that we see listed companies introduce ‘a designated non-executive director’ responsible for employee engagement or a director from the workforce.

Evidence shows employee engagement increases if they have a say in the way the company is run which leads to much improved company performance.

Great initiative - heartland could lead way with this in NZ

[percy]

Thank goodness Heartland do not operate in Britian.
I think you should remember Heartland only have a staff of 360. .
All you ideas would most probably mean they would have to take on another 360 .
Time for you to clear you head taking a walk, to water the Rata you planted.I know I am doing well,but did the other one survive?

[winner69]

Rata doing fine ...other one doing fine as well as exclusion is not part of winners care policy

Is any CEO worth more than 65 times what some employees get paid?

[percy]

Rata doing fine ...other one doing fine as well as exclusion is not part of winners care policy

Is any CEO worth more than 65 times what some employees get paid?

Well Mark Waller at Ebos certainly was.
Mark Adamson at FBU was not.
Two very different Marks.!

[moka]

Seeing Heartland leading the way on the diversity front they should lead the way in NZ with real employee engagement as well.

In Britain there shortly will be ‘comply or explain’ rules in the UK Corporate Governance Code, that we see listed companies introduce ‘a designated non-executive director’ responsible for employee engagement or a director from the workforce.

Evidence shows employee engagement increases if they have a say in the way the company is run which leads to much improved company performance.

Great initiative - heartland could lead way with this in NZ

Yes, plenty of room for improvement in New Zealand with employee engagement and getting Boards/top management to listen to employees as these two examples show. It would lead to improved business performance. Enough of the arrogant, we know best attitude from Boards/management.

https://www.stuff.co.nz/national/health/97265223/waikato-dhb-to-learn-findings-into-absent-chief-executive
Waikato DHB chief executive quits. Murray's resignation was announced at a closed-door board meeting early on Thursday and follows a two-and-a-half-month investigation into allegations of unauthorised spending.

https://thespinoff.co.nz/politics/21-07-2017/the-ministry-of-transport-fraud-case-why-the-rot-goes-deeper-than-joanne-harrison/
Crucially, the MOT documents show that Joanne Harrison was not some sophisticated operator capable of bewitching and beguiling honest and astute civil servants. She was a brassy and clumsy fraudster who got spotted really early – three years before any action was taken at the top. She was spotted early by people who then subsequently suffered at the hands of Harrison.

[percy]

Yes, plenty of room for improvement in New Zealand with employee engagement and getting Boards/top management to listen to employees as these two examples show. It would lead to improved business performance. Enough of the arrogant, we know best attitude from Boards/management.

https://www.stuff.co.nz/national/health/97265223/waikato-dhb-to-learn-findings-into-absent-chief-executive
Waikato DHB chief executive quits. Murray's resignation was announced at a closed-door board meeting early on Thursday and follows a two-and-a-half-month investigation into allegations of unauthorised spending.

https://thespinoff.co.nz/politics/21-07-2017/the-ministry-of-transport-fraud-case-why-the-rot-goes-deeper-than-joanne-harrison/
Crucially, the MOT documents show that Joanne Harrison was not some sophisticated operator capable of bewitching and beguiling honest and astute civil servants. She was a brassy and clumsy fraudster who got spotted really early – three years before any action was taken at the top. She was spotted early by people who then subsequently suffered at the hands of Harrison.

May pay for you, or W69, to start a new thread in Off Market Discussions.

[winner69]

May pay for you, or W69, to start a new thread in Off Market Discussions.

Just thinking how Heartland could become a great company ...so relevant if that’s your problem

[percy]

Just thinking how Heartland could become a great company ...so relevant if that’s your problem

Great company already.

[winner69]

Great company already.

Subjective conclusion that is I reckon

If so can become even greater

[minimoke]

Evidence shows employee engagement increases if they have a say in the way the company is run which leads to much improved company performance.

Great initiative - heartland could lead way with this in NZAn engaged employee delivers what the employer has hired him/her to do. In return they get paid. A fair days pay for a fair days work. Simple as that really.

Employee engagement an excellent job creation programme for people devising questionnaires, running surveys, analysing results and making recommendations until the next round of survey which will be tweaked and a new set of results delivered.

The best investment HBL can make in Employee engagement is saying "thankyou" to their staff from time to time.

(and a Little off topic - if you look at eh Health Board and government department you will find they are swimming in "Diversity" "Equality" "Te Reo" "Staff Engagement" policies and look where that got them - people hired on wrong assumptions))

[percy]

Moka and W69.
It is your fault.
You set off Minimoke !!!....lol.

[winner69]

Moka and W69.
It is your fault.
You set off Minimoke !!!....lol.

Shareholders got $41m in divies last year ...staff got paid a miserable $41m (including Jeff’s $3m) for ‘investing’ their time and skills in Heartland

Maybe more than a few ‘thank you’ are warranted.

[minimoke]

Shareholders got $41m in divies last year ...staff got paid a miserable $41m (including Jeff’s $3m) for ‘investing’ their time and skills in Heartland

Maybe more than a few ‘thank you’ are warranted.
Bloody lucky to be working for a successful employer I reckon!

(If staff want to share in the wealth they are free to buy shares like the rest of us)

[percy]

Shareholders got $41m in divies last year ...staff got paid a miserable $41m (including Jeff’s $3m) for ‘investing’ their time and skills in Heartland

Maybe more than a few ‘thank you’ are warranted.

At least 109 of them earnt more than I did selling books last year.

[minimoke]

.. for ‘investing’ their time and skills in Heartland
.
And I cant let this go by. Time is the employers - to be filled with the employee putting their skills to good use. Skills and knowledge are essentially a commodity. Those who hold them get to sell them to a willing employer. As Percy has pointed out 107 of these get more than $100k. So not a bad "return on investment" for those with the skills.

Heres what one employee said back in 2015 "Fun work place with supportive colleagues and management. Not rushed to provide results, rather encouraged to be accurate and efficient. Awesome culture and team. Pros Laid-back yet hardworking atmosphere, celebratory morning teas"

Celebratory morning teas!!!

[winner69]

Jeff's management meeting

[winner69]

Proud that Heartland are committed to improving gender diversity

https://i.stuff.co.nz/business/99520326/management-equality-could-deliver-an-881-million-economic-boost-report

Will make them even a greater company

[minimoke]

Proud that Heartland are committed to improving gender diversity

https://i.stuff.co.nz/business/99520326/management-equality-could-deliver-an-881-million-economic-boost-report

Will make them even a greater company
Excellent: "The report also found only 40 per cent of businesses had a gender policy in place, with just 26 per cent of them measure performance or progress." Shouldn't be wasting there time.

I hope HBL have a "Employ the best person for the job" policy before they have a "diversity policy. Oh well - I guess its jobs for policy wonks - I bet they are women.

Edit: I would add Deloittes are responsible for their "Top Emerging Companies" report - in which they list PEB. That's gives you an indication of their analytical abilities

[Jay]

I hope HBL have a "Employ the best person for the job" policy before they have a "diversity policy.




My thoughts too MM, not just for HBL but for any company with a diversity policy

[winner69]

My thoughts too MM, not just for HBL but for any company with a diversity policy

Still need to do away with this self-replicating masculine Anglo-Saxon management style that has outlived its usefullness in today’s highly complex, global and multi-cultural business world

Gender bias remains a problem, to the detriment of company performance

I would hazard a guess that Heartland with 3 out of 12 of its senior management team as females (including the notional head of people) has a fair degree of gender bias when appointing new managers ....and probably many talented women (best person for job) being overlooked (many studies show this as prevalent in most organisations)

Good on Heartland for trying hard .....will lead to higher dividends

[minimoke]

I would hazard a guess that Heartland with 3 out of 12 of its senior management team as females (including the notional head of people) has a fair degree of gender bias when appointing new managers ....and probably many talented women (best person for job) being overlooked (many studies show this as prevalent in most organisations)
That is bordering on a defamatory statement.

What "Diversity" policies forget to recognise is that it is actually illegal to discriminate, in employment, against a person based on the sex.

I hope you aren't suggesting HBL is breaching the Human Rights Act. HBL is after all working in a highly regulated and compliance required industry.

[BlackPeter]

That is bordering on a defamatory statement.

What "Diversity" policies forget to recognise is that it is actually illegal to discriminate, in employment, against a person based on the sex.

I hope you aren't suggesting HBL is breaching the Human Rights Act. HBL is after all working in a highly regulated and compliance required industry.

Absolutely - but if they are required not to discriminate, why are they doing it?

Nothing defamatory about winners statement. Just plain common sense. Look at it from a different perspective - given that women are (in average) as capable as men ... how is it even possible that the overwhelming majority of all business leaders are male, which means that most businesses exclude half of the talent pool from running their business?

The only sensible explanation is that (many) males are discriminating against women when making recruitment decisions - and with that they go for the second best male (left) instead of hiring the best person to do the job.

I do agree with winner - not just HBL could be a better organisation if they would hire the best people to do the job instead of turning to one group of the population a blind eye. Let's hope they go for it!

[suse]

just moving away from all the diversity talk for a sec. I think Heartlands internet banking is truly awful. I only perservere for the better interest rates and because I am a shareholder. What do others think? I guess the problem is I am comparing to ANZ which has a pretty good internet banking platform that is super easy to get around and use (and they have plenty of money to make it good). I even find Rabobank easier than HBL and they arent that great either.

[minimoke]

given that women are (in average) as capable as men ...


That is not a "given". We really ought to take this of topic.

But....

All bankers are born equal. But through life things start to get streamed.

What you need to be asking is: If there is a senior manager vacancy in HBL what is the gender makeup of the job applicants. If it is 90% male 10% female odds are a male will get the job. Hopefully not because hopefully the best person gets it.

So while males and females are born with equal capability it might be that though their life progressions their capability is not the same the higher up the food change you go. And I don't mean so much "capability" (That is the the potential to achieve) but more the "ability" (that is a person has achieved).

And if you want to play a numbers game the Maori will never get a senior management job because Maori only make up 15% of the population. Leaving 85% of non-maori more likely to get a job.

Same with language. If you are going to put Maori into you Annual report why arent you looking at diversity and putting an Asian language in there.

Non of this should matter as it distracts from the job of being excellent bankers!

[winner69]

just moving away from all the diversity talk for a sec. I think Heartlands internet banking is truly awful. I only perservere for the better interest rates and because I am a shareholder. What do others think? I guess the problem is I am comparing to ANZ which has a pretty good internet banking platform that is super easy to get around and use (and they have plenty of money to make it good). I even find Rabobank easier than HBL and they arent that great either.

I agree - internet banking truely awful

Easier to ring and talk to a real person to get things sorted ......but that seems contradictory to their digital startegy


my small sample based on use - 100% of people on 0800 number are male - just saying

[BlackPeter]

That is not a "given". We really ought to take this of topic.


Agreed. Here we go:

https://www.sharetrader.co.nz/showthread.php?11179-Diversity-in-the-business-world-booster-handbrake-or-just-more-noise&p=695048&viewfull=1#post695048

[percy]

Agreed. Here we go:

https://www.sharetrader.co.nz/showthread.php?11179-Diversity-in-the-business-world-booster-handbrake-or-just-more-noise&p=695048&viewfull=1#post695048
Thank you.......

[Adam H]

Same with language. If you are going to put Maori into you Annual report why aren't you looking at diversity and putting an Asian language in there.

Because New Zealand does not have an indigenous Asian language? I never understand why people are so anti Te reo Maori.

Otherwise agreed, you need to consider the number of applications from various groups before claiming they are being discriminated against by HBL.

[winner69]

Thank you.......

Relief eh percy .....issue gone away ...no worries

But I'll continue to bring up Heartland diversity because I am proud of them showing committment to such things.

Remember they do what they say they will do ....somebody has to keep track of that eh

[iceman]

SP now 20% higher than the price of the Rights. That's diversity I like a lot

[minimoke]

SP now 20% higher than the price of the Rights. That's diversity I like a lot
Its what you get when you have a good team in place - no point meddling with that which isn't broke.

Anticipating Monday (?) to see what happens after the rights close.

[RGR367]

Submitted my form and applied for more than double my entitlement. Gut feel is that oversubscription price will not be more than 176 :t_up:

[dabsman]

Submitted my form and applied for more than double my entitlement. Gut feel is that oversubscription price will not be more than 176 :t_up:

I applied for 5 times my entitlement - hope I don't get all of that - will have to find the money somewhere!

[Beagle]

SP now 20% higher than the price of the Rights. That's diversity I like a lot

LOL good one mate.

[777]

I applied for 5 times my entitlement - hope I don't get all of that - will have to find the money somewhere!

The money should go out of your account when you apply for your entitlement. It is not a pay later.

[dabsman]

The money should go out of your account when you apply for your entitlement. It is not a pay later.

Yeah it came out today - wont be buying anything else for a while now haha

[minimoke]

Yeah it came out today - wont be buying anything else for a while now haha
So how much did they take out per share?

[dabsman]

So how much did they take out per share?

I took my full entitlement and then I said I am willing to participate X amount of dollars in the build. How I see it is if I buy for less than 1.90c I am well winning.

[minimoke]

I took my full entitlement and then I said I am willing to participate X amount of dollars in the build. How I see it is if I buy for less than 1.90c I am well winning.
Ah - so thats how its done. I didnt get to reading that far into the Offer Doc as I figured taking my options was enough risk for this new addition to my portfolio.

[dabsman]

Ah - so thats how its done. I didnt get to reading that far into the Offer Doc as I figured taking my options was enough risk for this new addition to my portfolio.

A gamble as you don't know the final price but I was going to buy more anyway so its a gamble in my favour

[winner69]

Here is OUR TEAM as it stands today - the team that runs Heartland

All this recent talk by the Chairman and the CEO about the need for gender and ethnicity diversity .....hmmm ....looks like things need to change

Heartland do what they say they will do .... be interesting to see what OUR TEAM looks like sometime in the future.




[

[minimoke]

Here is OUR TEAM as it stands today - the team that runs Heartland

All this recent talk by the Chairman and the CEO about the need for gender and ethnicity diversity .....hmmm ....looks like things need to change

Heartland do what they say they will do .... be interesting to see what OUR TEAM looks like sometime in the future.




[
I don't care what the team looks like when the share prise is going up

[weasel]

I took my full entitlement and then I said I am willing to participate X amount of dollars in the build. How I see it is if I buy for less than 1.90c I am well winning.

So, as I understand it, institutional investors give Heartland an indication of how many they would take at a certain price per share. Heartland looks at these offers and decides the price (which can be anything from 1.70 to the closing price day before the bookbuild). Then the allocations are [scaled and] distributed to everyone who applied. So, I'm confused about the price. Less demand will mean lower price?

[moka]

Here is OUR TEAM as it stands today - the team that runs Heartland

All this recent talk by the Chairman and the CEO about the need for gender and ethnicity diversity .....hmmm ....looks like things need to change

Heartland do what they say they will do .... be interesting to see what OUR TEAM looks like sometime in the future.
[

There is progress - more diversity in age. What is encouraging to see in the photos is that they are not all men in their 70s or older.

[Beagle]

Applied for my rights yesterday, great buying at $1.70...not so sure about >$2.

[Joshuatree]

Me too pretty effortless online applied mon funds removed tues.

[QOH]

just moving away from all the diversity talk for a sec. I think Heartlands internet banking is truly awful. I only perservere for the better interest rates and because I am a shareholder. What do others think? I guess the problem is I am comparing to ANZ which has a pretty good internet banking platform that is super easy to get around and use (and they have plenty of money to make it good). I even find Rabobank easier than HBL and they arent that great either.

Agree. Tried to open an account this am, had to email them back about something I was unsure of, and got back what I considered a rude condescending reply. I'd prefer to support Heartland considering husband is a shareholder, but maybe I'll stick to Rabobank despite their annoying digipass.

[pierre]

Agree. Tried to open an account this am, had to email them back about something I was unsure of, and got back what I considered a rude condescending reply. I'd prefer to support Heartland considering husband is a shareholder, but maybe I'll stick to Rabobank despite their annoying digipass.
Opening a new account with any bank is a nightmare these days - unless you are already an account holder. I finally got around to establishing a personal call account with Heartland (their measly 2.75% is much better than any other bank) and as we already have business banking with them the process was smooth, easy and fast.

I guess their staff get just as frustrated as their customers with the drama involved - though that's no excuse for a rude response.

Their web site has improved a bit over recent months but it's still nowhere near as intuitive and easy to navigate as the ANZ (though I have many years of familiarity with that going back to the good old National Bank days).

[minimoke]

Opening a new account with any bank is a nightmare these days - .
I think it is all this anti - terrorism, anti-money laundering malarky. Because there is so much of it in NZ

[silu]

I've heard opening a bank account in Panama is easy as ;)

[dabsman]

I'm just glad we aren't talking about diversity - all I care about is how diverse the countries are I'm travelling to when I retire...

[weasel]

Applied for 60x my entitlement (though my entitlement was not yuge)... Bit of a gamble, we'll see how it goes.

[blockhead]

Blocky applied for $50k worth of extras, its a gamble of course but as I said earlier, worst thing that could happen is you own a few more shares in a fairly good company

[Food4Thought]

Blocky applied for $50k worth of extras, its a gamble of course but as I said earlier, worst thing that could happen is you own a few more shares in a fairly good company

I wionder what the ratio of uptake it... I applied for 30% extra to my allocation. Super enthusiastic for this company. I want them to be in the NZ business sphere for long term and believe in their ability.

[Fatboyj]

Looking at the uptake they could have done a 1:1

[winner69]

Another cap raising almost done and dusted. Put the begging bowl out and got another $60m odd to grow the business.

Since giving guidance of npat of $65m to $68m for F18 they have raised about $210m of extra funds but guidance has remained unchanged ...whose kidding who or are the new funds sitting idle

[Beagle]

I reckon they'll be getting some serious traction on both sides of the Tasman with their reverse home equity loans. I love those loans with their high margins and very, very low risk...FAR FAR safer than lending money through Harmoney unsecured and no deposit

[Joshuatree]

Agree. Looks like the perfect storm for reverse mortgages is coming/here with all these asset rich(house), income middling older folks.
Applied for my allocation and no more. Just not enough in it for me risk/ reward wise .

[janner]

Agree. Looks like the perfect storm for reverse mortgages is coming/here with all these asset rich(house), income middling older folks.
Applied for my allocation and no more. Just not enough in it for me risk/ reward wise .


08/12/16 $1.52

08/12/17 $2.00

Increase of 31.5% Not including dividends.

As a layman I can handle those sort of risks.. The reward has been more than adequate..

Disc. Hold.

[winner69]

08/12/16 $1.52

08/12/17 $2.00

08/12/18 $3.00

Increase of 31.5% Not including dividends.

As a layman I can handle those sort of risks.. The reward has been more than adequate..

Disc. Hold.

Jncrease 50% not including dividends

I can live with that

[janner]

Jncrease 50% not including dividends

I can live with that

Yes .. I also could live with that..

However.. I would prefer HBL to continue on the course set for increased earnings and dividends .

As they have been doing.. With out too many " Diversions ".. :-)))

[Joshuatree]

08/12/16 $1.52

08/12/17 $2.00

Increase of 31.5% Not including dividends.

As a layman I can handle those sort of risks.. The reward has been more than adequate..

Disc. Hold.

Sure has. Looking ahead theres just not enough in it for me personally risk/reward wise to apply for extra as well as not knowing what the book build price will be. Happy with my holding atp.

[winner69]

Yes .. I also could live with that..

However.. I would prefer HBL to continue on the course set for increased earnings and dividends .

As they have been doing.. With out too many " Diversions ".. :-)))

Diversions eh ...love them

With the Westpac CEO taking a role as a “social justice warrior” a lot more is being said about social justice issues. I’m told that the relationship between Westpac and Heartland goes beyond their transaction processing tie up - and that they talk together about various worldly things including ‘social justice’ issues.

So maybe Westpac leading the gender diversity crusade and Heartland leading the ethnic diversity crusade (in the financial sector at least)

Heartland will do well in these things ...Jeff as a ‘social justice warrior’ and ably assisted by Directors Vanessa and Ellie who are pretty high profile and active in pushing for more roles for women in senior management.

Go Heartland - better performance will accrue - share price will get to 3 bucks quicker.




wont comment on the Chairman - he’s too old and set in his ways to change his views on these sort of issues

[minimoke]

With the 1:15 rights offering closed on Friday, when do we get issued our new shares?

[iceman]

With the 1:15 rights offering closed on Friday, when do we get issued our new shares?

14 December 2017

[winner69]

With the 1:15 rights offering closed on Friday, when do we get issued our new shares?

Will be transferred into your wallet one day soon .....maybe by lunch time

Should be faster than that other outfit that was going to fill your wallet

Whatever ...keep it safe .....and don’t forget these shares are only a recorded transaction on a big file somewhere.

[Drummer]

When do you expect to hear about shortfall, price etc?

[dabsman]

Closing Date (last day for receipt of thecompleted Entitlement and AcceptanceForm with payment)8 December 2017
Shortfall Bookbuild occurs 12 December 2017
Allotment of New Shares under the Offer 14 December 2017
Expected date for quotation of New Sharesissued under the Offer14 December 2017
Payment of any Premium achieved inthe Shortfall Bookbuild to holders of anyRights not exercisedBy 21 December 2017
Mailing of holding statements By 21 December 2017

[Drummer]

Thanks mate...

[dabsman]

No problem - they must be busy to turn this all around so quick

[minimoke]

Whatever ...keep it safe .....and don’t forget these shares are only a recorded transaction on a big file somewhere.
I quite like that big file. If I loose my fattened wallet, its comforting to know there is a backup.

[minimoke]

Shortfall Bookbuild occurs 12 December 2017

Which is quite why I Like buying things at a known price. HBL up today (so far) 3% to $2.06 - day before book build. Happy with my $1.70 purchase thank you very much

[blockhead]

Hard for me to fathom why HBL is up to $2.07 a day before bookbuild (remembering the price the day before the bookbuild is upper limit) the cynic in me says manipulation....but that wouldn't happen on the NZX would it ?

[percy]

Hard for me to fathom why HBL is up to $2.07 a day before bookbuild (remembering the price the day before the bookbuild is upper limit) the cynic in me says manipulation....but that wouldn't happen on the NZX would it ?

Buying a "pig in a poke" often throws up a surprise.?

[minimoke]

Theres another reason for reading the offer documents more closely. I didn't realise if I didn't take my options up I'd get paid a premium for my unused options after book build. Might explain sudden spike in price today

[dabsman]

I am guessing a bookbuild price around $1.80. I don't think the big boys will buy close to $2 but then again I don't know anything. Maybe I came up with $1.80 more out of hope?

[janner]

I am guessing a bookbuild price around $1.80. I don't think the big boys will buy close to $2 but then again I don't know anything. Maybe I came up with $1.80 more out of hope?

Hope. As I am sure some one has already posted on here . Is no way to invest..

Struggled to make the payment for my entitlement ( Disgusting leftist word )..

Happy.. :-))))))

[iceman]

Theres another reason for reading the offer documents more closely. I didn't realise if I didn't take my options up I'd get paid a premium for my unused options after book build. Might explain sudden spike in price today

Same here minimoke. I had not noticed that. A nice little Christmas present for those that didn´t or couldn´t participate.
"Any premium above the issue price that is achieved in the Shortfall Bookbuild
will be shared between those shareholders who did not, or were unable to,
take up their rights, in proportion to the number of rights not taken up. Any
premium will be paid to those shareholders by 21 December 2017. "

I commend HBL for how they have handled this rights issue and have treated us shareholders very fairly with 82% of rights available taken up. I also commend the Shareholder´s Association for their part in achieving this. A great result for all.

[ziggy415]

I am guessing a bookbuild price around $1.80. I don't think the big boys will buy close to $2 but then again I don't know anything. Maybe I came up with $1.80 more out of hope?
522 million shares 1for 15 equals 34,800000 shares @ 1.7 comes to 57 million...heartland wanted to raise 59 million....with 18 million dollars in overs orders some scaling can be expected

[janner]

[QUOTE=iceman;695985

I commend HBL for how they have handled this rights issue and have treated us shareholders very fairly with 82% of rights available taken up. I also commend the Shareholder´s Association for their part in achieving this. A great result for all.[/QUOTE]


They are a good example to other companies in my opinion..

This is why HBL have so many long term holders such as yourself and Percy singing the praises with such fervour..

Disc. Long time very happy holder..

[RTM]

Hard for me to fathom why HBL is up to $2.07 a day before bookbuild (remembering the price the day before the bookbuild is upper limit) the cynic in me says manipulation....but that wouldn't happen on the NZX would it ?

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11953403

Some of this might be reflecting onto HEARTLAND.

[janner]

Not good really.

Price becoming erratic..

So many do not really understand HBL..

Disc. Hold.... Onwards and Upwards..

[winner69]

Hard for me to fathom why HBL is up to $2.07 a day before bookbuild (remembering the price the day before the bookbuild is upper limit) the cynic in me says manipulation....but that wouldn't happen on the NZX would it ?

On a price to book value basis current price much in line with what it was a month ago - market adjusting for the increased equity.

[iceman]

On a price to book value basis current price much in line with what it was a month ago - market adjusting for the increased equity.

And all that increased equity needs to have a good return eh winner. An upgrade early in the new year to maintain the outstanding ROE ???

[winner69]

And all that increased equity needs to have a good return eh winner. An upgrade early in the new year to maintain the outstanding ROE ???

Market thinks they will ...that's good. If so $65m won't be enough.

But give them a bit of time - it's all calculated on a weighted average basis anyway

No worries ...except that too many might hock off their cheap shares. No longer term view those punters ....just in for a quick buck

[minimoke]

Too late to buy / sell now. In a trading halt until book build done.

[beetills]

Didn't participate due to being unemployable and the failure of Forestlands to pay out.
Have enjoyed the ride over the years especially having shares in CBS and buying more at around 55c some years ago.
Will probaly have sell out sometime in the future until then its all good.

[blockhead]

$2.02 for any extras in the bookbuild, hardly a rollicking bargain, lets see if the sp holds up after halt finishes

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/HBL/311803/271622.pdf

Nice professionally handled capital raise that was fair to all parties. Other companies would do themselves and their shareholders well by taking note of how well this was handled and when the times comes following a very similar methodology. SP was well supported throughout the process at and around just over the $2 mark so the book build price shouldn't be a real surprise to anyone.

[percy]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/HBL/311803/271622.pdf

Nice professionally handled capital raise that was fair to all parties. Other companies would do themselves and their shareholders well by taking note of how well this was handled and when the times comes following a very similar methodology. SP was well supported throughout the process at and around just over the $2 mark so the book build price shouldn't be a real surprise to anyone.
Agree,very well run capital raise.I am sure other companies will take notice.
Well the book bind price was a very big pleasant surprise to me.!

[RTM]

Agree,very well run capital raise.I am sure other companies will take notice.
Well the book bind price was a very big pleasant surprise to me.!

Why is that Percy ? Because you didn’t take up your full allocation and have some cash coming for Christmas ? Or you think this will support the share price tomorrow ?

[winner69]

So a little 32 cent per share bonus for those who didn’t take up their rights

Pretty big divie if you look at it that way ...or a decent Xmas present for somebody

[percy]

Why is that Percy ? Because you didn’t take up your full allocation and have some cash coming for Christmas ? Or you think this will support the share price tomorrow ?

Just thought $2.00 would be a barrier.
Now we are through that, $2.25 next stop on the way to $2.50.

[winner69]

Just thought $2.00 would be a barrier.
Now we are through that, $2.25 next stop on the way to $2.50.

C’mon Percy ......and then $3 when Jeff owns up to at least $72m npat for next year.

All this cash got to do something eh

[percy]

C’mon Percy ......and then $3 when Jeff owns up to at least $72m npat for next year.

All this cash got to do something eh

Time to take care W69,as I was just working out how much a week, either a 25 cents or a 50 cent rise in the sp over the next year,would be worth to me a week.?
Now $1.00............The mind boogles ......

[dabsman]

So a little 32 cent per share bonus for those who didn’t take up their rights

Pretty big divie if you look at it that way ...or a decent Xmas present for somebody

So much for $1.80...

Oh Well I will pick up a few more with no brokerage - and more in march with DRP. Small additions over time turns into significant holdings I suppose - just need patience

[777]

So if the sp drops below 2.02 then those that did not take up the issue will be better off than those who did. The rise on the last day looks a bit suspicious to me.

[winner69]

Time to take care W69,as I was just working out how much a week, either a 25 cents or a 50 cent rise in the sp over the next year,would be worth to me a week.?
Now $1.00............The mind boogles ......

Be a bugger if there is a big market correction and the share price drops back to $1

Hope you are prepared to do the necessary to lock in your gains if that eventuates

[percy]

Be a bugger if there is a big market correction and the share price drops back to $1

Hope you are prepared to do the necessary to lock in your gains if that eventuates

Maybe I have things about face.?
The sp is a bit of a game to me,as I am neither a buyer or seller of HBL.
What I am looking at is HBL's capacity to keep growing eps,which will leave them in the position to keep paying increasing dividends,which will grow my income.
Each capital raise has seen HBL increase ROE and eps.I expect this trend to continue.

[trader_jackson]

Great to see a high percentage take up of 82%. Although the original dog Arvida had a 90% take up...
And with the help of a bit of what seems "highly suspicious" jump to $2.07 right before the book build, a very high premium to the capital raising price.
Looking forward to seeing a double digit EPS increase. It needs to when it is trading at these sorts of multiples
Now just waiting for the unexpectedly expected profit upgrade to come through.

[moka]

Good to see another bank getting into diversity – way to go.
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11958237
“Adrian Orr seen as a politically savvy choice as Reserve Bank governor
The New Zealand dollar's rally on news that Adrian Orr would be the next Governor of the Reserve Bank was a sign of relief in financial markets.
"Adrian Orr is more politically savvy than the recent governors, and more aligned with Labour ideology and policies," said Christina Leung, principal economist at NZIER.
"As a leader, he is inclusive and will likely champion more diversity within the Reserve Bank," she said.”

[minimoke]

Good to see another bank getting into diversity – way to go.
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11958237

There was me thinking the article was going to be about how the NZ dollar rallied on the back of a nicely managed bank capital raise.

Bit no. You post an article about a man getting a top job. You post speculation lacking evidential support "likely champion diversity" - look at how he succeeded at this at National Bank and Westpac. As for being "inclusive" don't get me started.

But back on topic (if you want to bore us with "diversity" there is another thread in teh off topic forums) how will the markets react today. I'll be happy if day ends at $2.05

[Beagle]

Interesting situation developing at UDC with the investing public withdrawing large amounts of investment support, which really shouldn't be a surprise to ANZ given the potential change of ownership and possibly considerably lower credit rating to be forthcoming. ANZ having to step into the breech and provide heaps more funding support, the exact opposite of what they are trying to achieve with this sale. https://www.interest.co.nz/business/91327/anz-becomes-primary-source-funding-udcs-lending-business-investors-collectively?utm_source=ST&utm_medium=email&utm_campaign=ShareTrader+AM+Update+for+Wednesday+1 3+December+2017

ANZ appear to have dug themselves a bit of a hole with this and no doubt are hoping it will eventually proceed...but will it ? Reports I have seen on CNBC a while back are that investment bankers in some US financial institutions have been instructed to stop work on HNA deals on the basis of the seriousness of their concerns over HNA's debt structure and its sustainability.

Meanwhile Heartland have been raising a lot more capital this year....hmmmm...could be an interesting 2018 coming up.

[winner69]

Interesting situation developing at UDC with the investing public withdrawing large amounts of investment support, which really shouldn't be a surprise to ANZ given the potential change of ownership and possibly considerably lower credit rating to be forthcoming. ANZ having to step into the breech and provide heaps more funding support, the exact opposite of what they are trying to achieve with this sale. https://www.interest.co.nz/business/91327/anz-becomes-primary-source-funding-udcs-lending-business-investors-collectively?utm_source=ST&utm_medium=email&utm_campaign=ShareTrader+AM+Update+for+Wednesday+1 3+December+2017

ANZ appear to have dug themselves a bit of a hole with this and no doubt are hoping it will eventually proceed...but will it ? Reports I have seen on CNBC a while back are that investment bankers in some US financial institutions have been instructed to stop work on HNA deals on the basis of the seriousness of their concerns over HNA's debt structure and its sustainability.

Meanwhile Heartland have been raising a lot more capital this year....hmmmm...could be an interesting 2018 coming up.

Interestingly UDC make about the same profit (actually a little more) than Heartland .....but on much lower levels of lending

ANZ head honcho says it’s ‘a great little business’ ....probably just as biased as Heartland shareholders who say that a ‘a great little bank’

[percy]

Interestingly UDC make about the same profit (actually a little more) than Heartland .....but on much lower levels of lending

ANZ head honcho says it’s ‘a great little business’ ....probably just as biased as Heartland shareholders who say that a ‘a great little bank’
Most probably because UDC do not do Reverse Equity Loans,and lacks HBL's diversity of both lending and borrowing. .
And yes the ANZ head honcho is correct UDC is "a great little business",and would be, as I have often stated, a great fit with HBL,but not at the price HNA were/are prepared to pay.
Although I think it would be a great fit,HBL is achieving great organic growth on it's own,so the need to buy UDC is diminishing .
We know the REL business in Australia is growing well ,and I would be interested to know how their "open for" products are tracking in Australia.

[janner]

[QUOTE=Beagle;696180]Interesting situation developing at UDC with the investing public withdrawing large amounts of investment support, which really shouldn't be a surprise to ANZ given the potential change of ownership and possibly considerably lower credit rating to be forthcoming. ANZ having to step into the breech and provide heaps more funding support, the exact opposite of what they are trying to achieve with this sale. https://www.interest.co.nz/business/91327/anz-becomes-primary-source-funding-udcs-lending-business-investors-collectively?utm_source=ST&utm_medium=email&utm_campaign=ShareTrader+AM+Update+for+Wednesday+1 3+December+2017

ANZ appear to have dug themselves a bit of a hole with this and no doubt are hoping it will eventually proceed...but will it ? Reports I have seen on CNBC a while back are that investment bankers in some US financial institutions have been instructed to stop work on HNA deals on the basis of the seriousness of their concerns over HNA's debt structure and its sustainability.


o acquire Singapore's CWT shares from 'dissenting shareholders'



Reuters ReutersDecember 12, 2017



HONG KONG (Reuters) - Chinese conglomerate HNA Group has exercised its legal rights to acquire all shares from "dissenting shareholders" of Singaporean logistics firm CWT Ltd, as it moves to close the $1 billion (£0.8 billion) acquisition.

HNA Belt and Road Investments Singapore, an HNA group company, will offer S$2.33 ($1.73) per share in cash to the CWT shareholders who have not accepted the tender offer, HNA's financial advisers said in an announcement on behalf of the company on Monday.

The price is the same as was offered to other CWT equity holders, valuing the deal at S$1.399 billion ($1.04 billion).

The announcement comes against a backdrop of concerns about rising financing costs at indebted HNA, an airline-to-property conglomerate, whose $50 billion worth of deal-making over the past two years has sparked intense scrutiny.

Pressure on the group's finances has risen after the Chinese government told major banks in June to review their credit exposure to the conglomerate and a handful of other non-state companies.

HNA first announced in April its intent to buy CWT, whose businesses include logistics services, commodity marketing, financial services and engineering services and was incorporated in 1970 as a private arm of the Port of Singapore Authority.

After completion of the "compulsory acquisition" of dissenting shareholders' shares, CWT will become a wholly owned subsidiary of HNA Belt and Road Investments, according to Monday's statement.

[Drummer]

Got my shares and about 50% of over

[blockhead]

50% of what you applied for as extras ??

[dabsman]

Same here - got just over half what I asked for

[Drummer]

Yip, just over 50% of the cash amount I added for extras.

[blockhead]

How were you notified, I haven't heard a squeak

[oldtech]

I haven't received any formal notification, but just checked Link and can see the extra shares there.

[blockhead]

Ah yes, can see a wee few more in there alright, righto northwards it is !

[ziggy415]

Did you guys do yours online or the old mail system...ithought they were going to post the offers but mine never arrived,did manage to do mine online after much cursing and swearing so all good but the next cash raise may not arrive either

[Toasty]

Did you guys do yours online or the old mail system...ithought they were going to post the offers but mine never arrived,did manage to do mine online after much cursing and swearing so all good but the next cash raise may not arrive either

Got the email offer and filled out the online application. Money was gone the next day and my shiny new shares appeared in Link services the day they said they would. I am not sure that I trust the post anymore. NZ Post don't seem that excited by their own service.

[777]

Did you guys do yours online or the old mail system...ithought they were going to post the offers but mine never arrived,did manage to do mine online after much cursing and swearing so all good but the next cash raise may not arrive either

How you get the offer depends on how you have set up HBL on Link service for all your correspondence.

[blockhead]

And sp hasn't dropped back to 2.02 or worse so my conspiracy and manipulation theories can be put to bed !

[ziggy415]

Ah ok maybe I ticked something I didn't,t really read who knows

[ziggy415]

Ah ok maybe I ticked something I didn't,t really read who knows
Bit like now one to many bourbon lol

[axe]

Yip, just over 50% of the cash amount I added for extras.

Refund from the extra shares applied that weren't allocated already back in my account. Impressed by the speed of return. :)

[winner69]

Just thought $2.00 would be a barrier.
Now we are through that, $2.25 next stop on the way to $2.50.

All this happening than you thought eh

I did say why not 3 bucks eh

[janner]

All this happening than you thought eh

I did say why not 3 bucks eh

I'm with Percy on this one. $3 is mind boggling.. No reason for it to go there so quickly..

Unless of course HNA renege on their purchase.. At present they are throwing money around with gay abandon..

With a current share price of 0.355 cents HK.. Possible .... Such things dreams are made of ..

[percy]

All this happening than you thought eh

I did say why not 3 bucks eh

Godsmacked.!
$2.14 Takes a bit of getting used to,but I am trying.

[percy]

I'm with Percy on this one. $3 is mind boggling.. No reason for it to go there so quickly..

Unless of course HNA renege on their purchase.. At present they are throwing money around with gay abandon..

With a current share price of 0.355 cents HK.. Possible .... Such things dreams are made of ..
When dreams become reality,what do we do.?
I am just sitting back, and enjoying the lovely summer weather.!

[Beagle]

Godsmacked.!
$2.14 Takes a bit of getting used to,but I am trying.

Go on...you know you want to own a really good car before you're too old to really enjoy it..you could always use Heartland's money in the form of a loan and line your own pockets as a shareholder :p

[janner]

Godsmacked.!
$2.14 Takes a bit of getting used to,but I am trying.

Still stand by my post.. Why the sudden jump ?? Is it a big buyer ?.. Or just an enthusiast ramping ???. ( Winner ) ..

Either way.. Like Percy .. Neither seller or buyer..

Disc. Hold.

[JeremyALD]

Holy crap. $2.14 this is one crazy bull market

[winner69]

Holy crap. $2.14 this is one crazy bull market

Reckon $2.30 by the Christmas break

And when brokers put Heartland in the top selections for 2018 (the ones they publish in the Herald) all the Mums and Dads who only buy shares once a year will be in boots and all over the braek ...and $2.50 by mid-Jan

[janner]

Reckon $2.30 by the Christmas break

And when brokers put Heartland in the top selections for 2018 (the ones they publish in the Herald) all the Mums and Dads who only buy shares once a year will be in boots and all over the braek ...and $2.50 by mid-Jan

That was not Mums and Dads purchasing this afternoon. Put your cheque book away winner.. Wait until the New Year :-))))

[winner69]

That was not Mums and Dads purchasing this afternoon. Put your cheque book away winner.. Wait until the New Year :-))))


Yeah ....but they will be out in droves pushing the price up after Christmas when the big end of town has a break at their holiday villas