CGL - Chow Group Limited [formerly RIS Group]

[whatsup]

There has been a little trades in RIS over the last week, is there any info out there or is this the last rites of a clapped out company?

[silu]

I have 26,666 shares in this that's why I still get announcements. Director just resigned. Could these trades be done by that new venture selling small holdings for charity?

[whatsup]

Another ann today and RIS looks like it will survive as a rebirth, whats the betting that the "angles " get on board, Sorr, Joy$e et al, watch this space!!

[BFG]

Another ann today and RIS looks like it will survive as a rebirth, whats the betting that the "angles " get on board, sorehead, Joy$e et al, watch this space!!

The NZX is becoming more of a laughing stock every day and with each reincarnation of these horrendous entities...

[whatsup]

I see yesterday that there is a restructuring underway and guess who is the driver of it Mr Sorr, good or no so ?

[whatsup]

I see yesterday that there is a restructuring underway and guess who is the driver of it Mr Sorr, good or no so ?

could this be another TRU or VML ??>

[whatsup]

Chow Bro's into this shell, where to now for RIZ, with all the legacy shareholders on board Im picking that there will be a wholesale bail out sometime in the future./

[yabster]

Maybe they will offer free Mermaids memberships to shareholder :p

[whatsup]

Chow Bro's into this shell, where to now for RIZ, with all the legacy shareholders on board Im picking that there will be a wholesale bail out sometime in the future./

Some punter just bought 2.5 mil share , @ .004 100% up today off a nothing base.

[Absolute144]

Some punter just bought 2.5 mil share , @ .004 100% up today off a nothing base.

Well , how do these things normally play out, are the current shareholders squeezed out or bought out?

[Not too Flash]

Some punter just bought 2.5 mil share , @ .004 100% up today off a nothing base.

Beats backing the Black Caps :D

[whatsup]

Well , how do these things normally play out, are the current shareholders squeezed out or bought out?

Depends on the deal, the Chow Bros have substantial property interests and it all depends how they shoehorn then into RIS.
They initially have just backed just one Otahuhu boarding house into RIS as a starter but from here on out the devil is in the detail !

[Absolute144]

Well, their notoriety could help ris like dotcoms helped trs

[Harvey Specter]

I don't think many shareholders will complain - surely this will finish with a happy ending?

[GTM 3442]

B*gger! A penny dreadful that I missed!

I shall have to lift my game.

[minimoke]

Never thought I'd be an investor in the adult entertainment industry but looks like I am now. Bah humbug to ethical investing. I hold my Sky City shares so I wont be flogging these off in a hurry/ The only reason I kept them was to help keep a postman employed.

[Hectorplains]

Never thought I'd be an investor in the adult entertainment industry but looks like I am now. Bah humbug to ethical investing. I hold my Sky City shares so I wont be flogging these off in a hurry/ The only reason I kept them was to help keep a postman employed.

Indeed, a back door listing by a pair with a checkered past... what could possibly go wrong?

There was some comedy gold in Bennett's response too, "the RIS directors have worked hard to restructure the shell."

[whatsup]

Indeed, a back door listing by a pair with a checkered past... what could possibly go wrong?

There was some comedy gold in Bennett's response too, "the RIS directors have worked hard to restructure the shell."

Hector, believe you me they have and at the last AGM- a couple of weeks ago, a resolution to reward them for their hard work was turned down, they should receive something concrete for their efforts, after all we the long suffering shareholders now have something to think about now.

[minimoke]

... after all we the long suffering shareholders now have something to think about now. So long suffering I couldn't even remember how I ended up with these shares. But now I do - a bit of a punt on Newcall Group. And there began another lesson on taking a punt.

[whatsup]

So long suffering I couldn't even remember how I ended up with these shares. But now I do - a bit of a punt on Newcall Group. And there began another lesson on taking a punt.

and before that it was Regal Salmon ( I think ) and before that it was ( ------) and before that it was ( ----- ) all the way back to the early 80's !!

[Hectorplains]

So long suffering I couldn't even remember how I ended up with these shares. But now I do - a bit of a punt on Newcall Group. And there began another lesson on taking a punt.

I though Newcall "evolved" into Blue Chip, and a whole new level of carnage.

[minimoke]

and before that it was Regal Salmon ( I think ) and before that it was ( ------) and before that it was ( ----- ) all the way back to the early 80's !!Submarines Australaaia? - or was that another piece of junk that morphed into something else gathering moss in my bottom draw

[BIRMANBOY]

LOL always appreciate a little humour in the day.
I don't think many shareholders will complain - surely this will finish with a happy ending?

[Snow Leopard]

FYI:

This started life as Holly Springs Investments Limited which listed as a 'clean shell' in Sept 2006 and Retail Information Systems backed into them in Sept 2009.

Best Wishes
Paper Tiger

[Absolute144]

FYI:

This started life as Holly Springs Investments Limited which listed as a 'clean shell' in Sept 2006 and Retail Information Systems backed into them in Sept 2009.

Best Wishes
Paper Tiger

When it comes to shares , past performance is no indication of future performance.

[minimoke]

FYI:

This started life as Holly Springs Investments Limited which listed as a 'clean shell' in Sept 2006 and Retail Information Systems backed into them in Sept 2009.

Best Wishes
Paper Tiger
I think whatsup is right.

1983 = nz salmon company ltd listed to farm salmon.

In 1999 Newcall group bought nzs. ( i must have bought in somewhere around here)

In 2004 newcall morphed to blue chip - and we should all remember what happened there.

But before then newcall spun off subsidiary newcall technologies in 2003.

That them morphed into holly springs investments in 2004 and then into ris in 2009.

So if anything whatsoever smells fishy with this latest development we can trace the origins way back.

[Snow Leopard]

I think whatsup is right. ...

You can think anything you wish but the facts remain as I stated earlier (http://stocknessmonster.com/news-history?S=RIS&E=NZSE&Year=2006).

Best Wishes
Paper Tiger

[Hectorplains]

When it comes to shares , past performance is no indication of future performance.

However, this article while dated, still holds very true : http://milfordasset.com/backdoor-listings-have-abysmal-record.

[minimoke]

You can think anything you wish but the facts remain as I stated earlier (http://stocknessmonster.com/news-history?S=RIS&E=NZSE&Year=2006).

Best Wishes
Paper Tiger

Fair enough - but check out nz companies office and do a search of RIS on the register to find the newcall technologies genisis.

Theres a difference between the genetic stock and the listing on nzax

[Snow Leopard]

Fair enough - but check out nz companies office and do a search of RIS on the register to find the newcall technologies genisis.

Theres a difference between the genetic stock and the listing on nzax

Oops - Sorry, my bad, many apologies.

So you were given shares in Newcall Technologies (and the other one that became Vistron etc) ?

Best Wishes
Paper Tiger

[Crackity]

When it comes to shares , past performance is no indication of future performance.

That quote should be on the sharetrader main page.

[minimoke]

Oops - Sorry, my bad, many apologies.

So you were given shares in Newcall Technologies (and the other one that became Vistron etc) ?

Best Wishes
Paper Tiger

All good.
Back in the dim distant past when I had more money than sense I decided to back most IPO's and new stuff appealed.

I cant remember exactly what Newcall was going to do but something in the technology space. (Unlike another great investment which sunk to the depths of Milford Sound I thought submarine tourism was a great idea).

Anyway... Newcall went tits up but cant remember why but it was left as some kind of shell which the Chinese(??) bought into and turned promises into nothing. Somehow Newcall got split and now I remember how I ended up with Blue Chip shares (flogged these very early on and didn’t get much for them) and then a while later letters started arriving from Holly Springs. No idea where they came from so got biffed in the bottom drawer. Then they stopped turning up and I started getting them from RIS - again no idea and since I hadn’t bought any figured it wasn’t worth the effort at looking into something worth zip.

Somewhere in there is also some energy type related shares – may be that was the Verizon(?) part but lost track of them.

So today it seems I’ve ended up with RIS and the Chow brothers. I think I might look forward to the next AGM as I am wondering what shareholder perks there will be. I’ve always enjoyed the RYM tea’s but I reckon the Chow brothers should be able to do something a bit different.

I’ve no idea how many shares I hold but over the past few days I think I have made 200% on nothing so not planning on spending the gain any time soon.

[Crackity]

From Bob Dey ( www.propbd.co (http://www.propbd.conz).nz) - I suspect this will be the last time I ever post on this thread!



RIS chairman Roger Bennett said in a statement issued on Monday: “The board is very positive about the agreement. The Chow brothers have been very successful businessmen who have built a very significant portfolio. The directors are looking forward to working with them on this transaction.”
16 Park Avenue Ltd owns Park Avenue Lodge at 10-20 Park Avenue, Otahuhu, a recently refurbished accommodation block.
The purchase price is to be satisfied by RIS issuing shares at a price equal to the net tangible asset value of RIS as at 31 December, plus $500,000, divided by the number of shares in RIS on issue at that date.
Conditions include due diligence being satisfied by Friday 20 November, the vendors obtaining consent from the Chow Group’s bankers and from related parties for RIS to take over the property company’s guarantees, and the vendors approving all documentation for a notice of meeting by 26 November. RIS has to satisfy all listing rules by 25 January.
RIS was originally Newcall Technologies Ltd, then Holly Springs Investments Ltd, becoming RIS Group Ltd in 2009.

[minimoke]

From Bob Dey ( www.propbd.co (http://www.propbd.conz).nz) - I suspect this will be the last time I ever post on this thread!



RIS chairman Roger Bennett said in a statement issued on Monday: “The board is very positive about the agreement. ....
The purchase price is to be satisfied by RIS issuing shares at a price equal to the net tangible asset value of RIS as at 31 December, plus $500,000, divided by the number of shares in RIS on issue at that date.
......
Crackity, you sound a bit gloomy. I, on the other hand feel very bullish.

On Friday my holding in RIS was worth nothing. But this week I have enjoyed the ride and seen a couple of hundred percent increase. Excellent! Even if the issuing of new shares dilutes my original holding and perhaps halves that value then I reckon half of nothing is worth more than all of nothing. And, I still have the AGM's to look forward to.

Thankfully with the passing of time I reckon I have gained wisdom from age. I have kept my investment strategies balanced with an increase in money thorough a reduction in sense.

Let those bulls run!

[iceman]

Crackity, you sound a bit gloomy. I, on the other hand feel very bullish.

On Friday my holding in RIS was worth nothing. But this week I have enjoyed the ride and seen a couple of hundred percent increase. Excellent! Even if the issuing of new shares dilutes my original holding and perhaps halves that value then I reckon half of nothing is worth more than all of nothing. And, I still have the AGM's to look forward to.

Thankfully with the passing of time I reckon I have gained wisdom from age. I have kept my investment strategies balanced with an increase in money thorough a reduction in sense.

Let those bulls run!

The highlighted bit is an interesting observation minimoke ;)

[Crackity]

Crackity, you sound a bit gloomy. I, on the other hand feel very bullish.

On Friday my holding in RIS was worth nothing. But this week I have enjoyed the ride and seen a couple of hundred percent increase. Excellent! Even if the issuing of new shares dilutes my original holding and perhaps halves that value then I reckon half of nothing is worth more than all of nothing. And, I still have the AGM's to look forward to.

Thankfully with the passing of time I reckon I have gained wisdom from age. I have kept my investment strategies balanced with an increase in money thorough a reduction in sense.

Let those bulls run!

Not gloomy at all Minimoke - having a fine time at the moment.

I just cut and pasted the bit from Bob Dey to add some info to the thread. I totally rate his website for good commercial property info including auction prices and leasing details.

Agree if you already have some of these shares then this deal is better than nothing. I don't have any and can't see myself ever buying any....:) agree the AgMs could be interesting!

[stoploss]

Another infraction from these guys , NZX going to be kept busy when they are up and running

http://www.stuff.co.nz/dominion-post/news/74041784/pork-fried-rice-excuse-fails-for-wellington-strip-bar-mermaids

[winner69]

Another infraction from these guys , NZX going to be kept busy when they are up and running

http://www.stuff.co.nz/dominion-post/news/74041784/pork-fried-rice-excuse-fails-for-wellington-strip-bar-mermaids

"Disclosure' shouldn't be a problem - I'm told their activities are very transparent

[minimoke]

Another infraction from these guys , NZX going to be kept busy when they are up and running

http://www.stuff.co.nz/dominion-post/news/74041784/pork-fried-rice-excuse-fails-for-wellington-strip-bar-mermaids
What a nutty law we have. So Good Friday is sacrosanct as it commemorates the Crucifixion of Christ hanging on a cross before his inevitable death and apparent rising. It seems quite alright to have women dressed only in thongs and dancing on a pole provided you prepare a meal (something more than a couple of scoops of fried rice) and do a bit more in the presentation than centralizing them on the plate.

Everyone knows you don't serve in twos - threes is the best number for food.

[youngatheart]

Should we hear by end of today how this goes?

"The Agreement is conditional upon:
1. The Vendors undertaking further due diligence of the Purchaser and being satisfied with the results of that due diligence. The date for satisfaction of this condition is 20 November 2015.
2. The Vendors obtaining consent from the Chow Group’s bankers to provide:
a) Releases of guarantees given in relation to PropCo by related parties of PropCo, to be replaced with a guarantee by the Purchaser;
b) A release of PropCo from guarantees given by PropCo in relation to related parties.
The date for satisfaction of this condition is also 20 November 2015. "

[whatsup]

Should we hear by end of today how this goes?

"The Agreement is conditional upon:
1. The Vendors undertaking further due diligence of the Purchaser and being satisfied with the results of that due diligence. The date for satisfaction of this condition is 20 November 2015.
2. The Vendors obtaining consent from the Chow Group’s bankers to provide:
a) Releases of guarantees given in relation to PropCo by related parties of PropCo, to be replaced with a guarantee by the Purchaser;
b) A release of PropCo from guarantees given by PropCo in relation to related parties.
The date for satisfaction of this condition is also 20 November 2015. "




Extension requested until Monday 23/11/15 !

[Absolute144]

2:05pm, 23 Nov 2015 | GENERAL

Further to our announcements of 9 November 2015 and 20 November 2015, RIS Group Limited (RIS) advises the following in relation to its conditional agreement (Agreement) with trusts associated with the Wellington based businessmen John and Michael Chow (Vendors):

(a) Condition 1 (due diligence) has been satisfied;
(b) Condition 4 (relating to finance) has been waived.
The Agreement is still conditional on two further conditions referred to in the announcement of 9 November 2015 being satisfied:

(a) Condition 2 (approval by the Vendors of the Disclosure Document and other documentation to be sent to shareholders with the Notice of Meeting to seek shareholder approval for the transaction). The date for satisfaction of this condition is 26 November 2015.
(b) Condition 3 (RIS obtaining all shareholder and other approvals required to implement the Agreement and comply with the Companies Act 1993, NZAX Listing Rules, the Takeovers Code and all applicable laws). The date for satisfaction of this condition is 25 January 2016.
As a result of discussions between the parties relating to the due diligence conducted by the Vendors, the parties have amended the Agreement to provide that the shares to be issued to the Vendors to satisfy the purchase price are to be issued at a price equal to the Net Tangible Asset Value of RIS at 31 December 2015, plus $300,000, but not less than $350,000, divided by the number of shares in RIS on issue at that date. The original Agreement provided for a price equal to the Net Tangible Asset Value of RIS at 31 December 2015, plus $500,000, divided by the number of shares in RIS on issue at that date.

The result of the amendment is that the price of the RIS shares to the Vendors is now less than under the original Agreement, with a corresponding consequence that the number of RIS shares to be issued to the Vendors is now greater than under the original Agreement.

Mr. Roger Bennett, Chairman of RIS said “This is very good progress for all parties. The Chow brothers have been good to deal with and realistic. We are looking forward to working through the remaining matters with them. The Board will continue to update the market as matters develop”.

RIS Group Limited

23 November 2015

For further information please contact:

Roger Bennett
Chairman
RIS Group Limited
020 111-3030
Roger@RISgroup.co.nz

[minimoke]

Today i got an AGM letter for Orion Mineral Group Ltd and for the life of me cant remember how I ended up with these shares. Was that part of the RIS evolution or some other penny dreadful I had thats morphed.

[Hectorplains]

Today i got an AGM letter for Orion Mineral Group Ltd and for the life of me cant remember how I ended up with these shares. Was that part of the RIS evolution or some other penny dreadful I had thats morphed.

This might help: http://www.stuff.co.nz/business/market-data/companies/755861/RLV-No-3-to-transform-into-mining-company

[minimoke]

This might help: http://www.stuff.co.nz/business/market-data/companies/755861/RLV-No-3-to-transform-into-mining-company
Ah yes. RLV rings a bell. I never bough them so have to figure where they morphed from,

[minimoke]

Got it.
Newcall technologies morphed into vistron and holly springs.

Holly springs then became a shareholder of RLV 3 ( reverse listing vehicle ) which morphed to orion minerals.

Vistron meanwhile morphed to mfs new zealand which changed to opi new zealand and opi pacific ltd and oh my god let's not walk down that track of history again.

Theres lessons here on why tracking directors is so important.

[dobby41]

Chow brothers move two properties into NZAX shell company
http://www.stuff.co.nz/business/industries/76224018/chow-brothers-move-two-properties-into-nzax-shell-company

[Yeshiva]

I am reluctant to come across as an old Nana here, but I have some serious misgivings about the proposals for RIS.

http://www.stuff.co.nz/business/industries/76451104/chow-brothers-move-auckland-property-into-nzaxlisted-shell-company-ris-group

- It's a backdoor listing, which usually discounts the likelihood of long term success
- Not very keen on the Chow brothers, I know commercialised sex is not a crime but it is the seedier side of life nevertheless. Business wise, there are a lot of moving parts that could cause trouble in terms of building ownership or tenant impact. For example, health and safety, liquor licensing, sex laws, building consents, RMA issues etc. Without the benefit of a prospectus disclosure I'm not enthused. Police investigations of strip clubs might cause regular bad press.
- It is a commercial property play, where the owners tend to be developers as well. This suggests a high recycling of capital, and because the property owners are the tenants, I suspect the best profits will come not from rental income streams but from building value re-valuations.
- There are some pretty compelling property plays in New Zealand. Kiwi Property Group, Stride, and Precinct all offer some pretty good quality buildings and tenants. What makes RIS/Chow Properties better than the above? They will need to be dirt cheap in my view.

Anyway, this Chow is the reprobate I like the most:

7857

[drcjp]

I am reluctant to come across as an old Nana here, but I have some serious misgivings about the proposals for RIS.

http://www.stuff.co.nz/business/industries/76451104/chow-brothers-move-auckland-property-into-nzaxlisted-shell-company-ris-group

- It's a backdoor listing, which usually discounts the likelihood of long term success
- Not very keen on the Chow brothers, I know commercialised sex is not a crime but it is the seedier side of life nevertheless. Business wise, there are a lot of moving parts that could cause trouble in terms of building ownership or tenant impact. For example, health and safety, liquor licensing, sex laws, building consents, RMA issues etc. Without the benefit of a prospectus disclosure I'm not enthused. Police investigations of strip clubs might cause regular bad press.
- It is a commercial property play, where the owners tend to be developers as well. This suggests a high recycling of capital, and because the property owners are the tenants, I suspect the best profits will come not from rental income streams but from building value re-valuations.
- There are some pretty compelling property plays in New Zealand. Kiwi Property Group, Stride, and Precinct all offer some pretty good quality buildings and tenants. What makes RIS/Chow Properties better than the above? They will need to be dirt cheap in my view.

Anyway, this Chow is the reprobate I like the most:

7857

I agree Yeshiva. The Chows are sleazebags and I wouldn't touch anything they do with a bargepole.

[whatsup]

Anyone go to the RIS meeting and if so what positive came out of it ?

[Brain]

Did they put on any strippers?

[Harvey Specter]

Thought I would post this Moosie doens't post anymore (paywall unfortunately): http://www.nbr.co.nz/article/chows-now-own-public-company-sl-p-185412

Photo for the archives: 7914

Couple of dodgy directors in that photo, and the other two are brothel owners! :):eek2::p

Note: smiley face used so I cant be sued for deformation :t_up:

[kiora]

Thought I would post this Moosie doens't post anymore (paywall unfortunately): http://www.nbr.co.nz/article/chows-now-own-public-company-sl-p-185412

Photo for the archives: 7914

Couple of dodgy directors in that photo, and the other two are brothel owners! :):eek2::p

Note: smiley face used so I cant be sued for deformation :t_up:

Only 2 ? :)

[Snow Leopard]

There is a story, I know not whether it is actually true, that PSY's Gangam Style video was viewed more times than YouTube could count when it hit 2,147,483,647 (2.1 billion) views.

SO

When they issue

1,126,142,516 new shares from this rights issue to go with the

1,876,904,194 shares already kicking around for a grand total of

3,003,046,710 (3 billion) SeaDragons

Will the NZX fall over?

Best Wishes
Paper Tiger

So it seems that the NZX can cope with no more than 9,999,999,999 shares (https://nzx.com/files/attachments/231007.pdf).

and RIS has to consolidate (https://nzx.com/files/attachments/231117.pdf)

Best Wishes
Paper Tiger

[whatsup]

So it seems that the NZX can cope with no more than 9,999,999,999 shares (https://nzx.com/files/attachments/231007.pdf).

and RIS has to consolidate (https://nzx.com/files/attachments/231117.pdf)

Best Wishes
Paper Tiger

1 for 25 as of Friday.

[777]

Good code..

CGL

Call Girls Ltd.

[youngatheart]

Confused???
https://www.nzx.com/companies/CGL/announcements/278865
So shouldn't the new price be 0.175? (Currently showing as 0.018...)

[youngatheart]

... and shouldn't they have deleted all the old announcements from the previous company that used code CGL in 2007? (Well according to ASB Securities screen..)

[minimoke]

Looks like im now part owner of buugered Stonewood homes.

[Southern_Belle]

watching with interest. I lost my job at Stonewood with the liquidation. Kinda glad now.....don't like the look of this

[trader_jackson]

They could always pull this off... it is certainly some interesting "corporate activity" that I don't think we've seen for years...

[nextbigthing]

They could always pull this off

Inappropriate use of language for this thread.

[Hectorplains]

They could always pull this off... it is certainly some interesting "corporate activity" that I don't think we've seen for years...

They're better placed than most to "pull this off." It's all a matter of definition. Of course , this could only ever have been a "back door listing."

[drcjp]

I guess it'll change to Bonewood Homes now.

[minimoke]

Inappropriate use of language for this thread.
Do you think? I disagree.If you want something erected and you're prepared to pay for it then these boys are well qualified. As a holder I have to have confidence that they have stripped bare Stonewoods accounts and found the naked truth. With Stonewood you could pay for a base service but if you wanted "extra's" then you had to pay for them - this is where good money can be made. Good on the Chows - always working hard to put the Stone back into the Wood.

[Sideshow Bob]

Sorry to disappoint you all, but you aren't owners of Stonewood - they have bought through another company....

http://www.stuff.co.nz/business/77716710/chow-brothers-buy-stonewood-homes-as-part-of-1b-property-portfolio-plan

[minimoke]

Sorry to disappoint you all, but you aren't owners of Stonewood - they have bought through another company....

http://www.stuff.co.nz/business/77716710/chow-brothers-buy-stonewood-homes-as-part-of-1b-property-portfolio-plan
Not yet. But how long before inno rolled into cgl?

[Harvey Specter]

Off topic but makes you wonder how the Franchisees feel about their new Franchisor.

[Sideshow Bob]

Off topic but makes you wonder how the Franchisees feel about their new Franchisor.

Might be group staff discounts at certain establishments? :confused:

[Harvey Specter]

Might be group staff discounts at certain establishments? :confused:Christmas party entertainment could be a :eek2::scared:

[minimoke]

Time for a disclaimer. Got my consolidation statement today. Seems im the owner of 2 shares. Theres a record - never had such a low stake in anything before. Looking forward to a 10 bagger though.

[kura]

Will have to get some shares, as I loved those boys sweet innocent faces !

[golden city]

At the moment price doesn't justify. Will keep watching.

[minimoke]

Might be group staff discounts at certain establishments? :confused:I'm hoping for some shareholder discounts. I'm VERY DISAPPOINTED! My investment was worth $0.228 in total - they have now eroded my capital down to $0.20. Losses like this arent sustainable without some kind of other benefit.

[golden city]

Very quite. Was hoping some sort of development comming

[Southern_Belle]

Very quite. Was hoping some sort of development comminghere is a development
http://www.stuff.co.nz/business/80511362/stonewood-homes-lays-off-15-staff-in-christchurch

[smtrader]

here is a development
http://www.stuff.co.nz/business/80511362/stonewood-homes-lays-off-15-staff-in-christchurch

so has stonewood been rolled into CGL ?

[Hectorplains]

so has stonewood been rolled into CGL ?

No...not yet anyhow.

[Southern_Belle]

here is a development
http://www.stuff.co.nz/business/80511362/stonewood-homes-lays-off-15-staff-in-christchurch

My sources tell me not all is as it seems. Only 3 sales consultants left from 15. Only one house completed since take over and it was a couple of weeks from being finished prior to February liquidation.

[Beagle]

Interesting Southern Belle, Just wondering...with the Chow brothers, shall we call it "colourful background" does anyone else think that might affect people's confidence in the franchise ?

[Lewylewylewy]

I think most customers would forget or not know who owns it

[minimoke]

I think most customers would forget or not know who owns iti know one person in this process. He very clearly knows who owns stonewood. He has been given what we both agree is a totally unrealistic home completion date. Wisely (i think) he has added three months.

Which leads us to Rogers question. People will gain confidence in the franchise if promises are met. If not the reverse will happen.

[Southern_Belle]

i know one person in this process. He very clearly knows who owns stonewood. He has been given what we both agree is a totally unrealistic home completion date. Wisely (i think) he has added three months.

Which leads us to Rogers question. People will gain confidence in the franchise if promises are met. If not the reverse will happen.Minimoke ...your friend knows who owns the company, has been given unrealistic finish date, then why are they going ahead?

[Beagle]

i know one person in this process. He very clearly knows who owns stonewood. He has been given what we both agree is a totally unrealistic home completion date. Wisely (i think) he has added three months.

Which leads us to Rogers question. People will gain confidence in the franchise if promises are met. If not the reverse will happen.

Anyone commissioning a new boat build would be wise to follow suit.

[minimoke]

Minimoke ...your friend knows who owns the company, has been given unrealistic finish date, then why are they going ahead?
Because they woudl quite like to have a house to live in. And they dont want to go through the Master Build guarantee insurance process. Cant blame them for that - some of us are very skeptical about insurance and companies that are going to fix problems. Dont even get me started on EQC!!!!

[beetills]

Share price seems to be heading down hill in a hurry even after announcing an eight million dollar profit.
Something here doesn't add up.

[silu]

Yeah my holding is worth $3.21 as of now. Doesn't even buy a coffee in Auckland ;)

[Gizzajob I can do that]

Think Id prefer the coffee than the shares, lol

[whatsup]

Share price seems to be heading down hill in a hurry even after announcing an eight million dollar profit.
Something here doesn't add up.


Profit is only PROFIT when an asset is sold, otherwise it is unrealised profit, B S attitude in its simplist form run by ,,,,, up to you to fill in .

[Newman]

Share price seems to be heading down hill in a hurry even after announcing an eight million dollar profit.
Something here doesn't add up.

The buildings was valued at $15.5 m, more than double the valuation when the reverse takeover occurred just a few months ago. Did the property value in Auckland rise 100% in the past 12 months?

Even at the new valuation od $15.5 m, the net asset value is only 1 cent/share. Why would anyone buy the shares at 3 cents?

The company has 135 rooms for rent. Assuming they are fully rented out 365 days a year at $80/night, the total revenue would be 135*365*80 = $3.94 m. If half of it becomes profit, it would be $1.97m, or 0.24 cents per share.

The questions for buyers of shares would be: 1) Can the company achieve the revenue and profit assumed above? and 2) would the property value keeps rising? I am suspicious of both.

[golden city]

very quiet company..., I think they are more busy doing their own business...., this is just keeping as shell..., when they restructure stonewood..they might sell it to the list company with big bucks

[beetills]

I would hope that there will be acquisitions in the near future however since one family dominates the shareholdings I don't really know what to expect.

[whatsup]

I would hope that there will be acquisitions in the near future however since one family dominates the shareholdings I don't really know what to expect.

More B S from a hordhouse owners

[minimoke]

I don't really know what to expect.
Expect nothing and you won't be disappointed with this stock. At least that's been my experience over its evolution.

[whatsup]

More B S imo from a poorly attended meeting , retrospective resolution says it all, you cannot be half pregnant.

[whatsup]

Interesting ann today, can they pull this off, hmmmmmmmmmmmmmmm!

[silu]

Maybe just maybe I get something for my 107 shares. I'm more than happy that it costs them money to have me as a shareholder.

[peat]

Interesting ann today, can they pull this off, hmmmmmmmmmmmmmmm!

not related to the CGL listing though??? i.e. isnt this just the Chow's doing their own stuff ???

[whatsup]

not related to the CGL listing though??? i.e. isnt this just the Chow's doing their own stuff ???

By the sounds of it yes but will they flog it off to CGL ?

[IAK]

Have yet to see any construction activity in the Zen Building in Rotorua.

[whatsup]

More B S from a hordhouse owners

Sadly, IMHO more of the same B S from this outfit, when will they learn that where there is smoke and nothing there is no value, imho this co is still way over priced let it settle back to sub .002 in order to find some value, geesus !!!

[Joshuatree]

Net profit 6months $114,000. NTA 1c.Occupancy and rates close to est. http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=11762407

[whatsup]

Net profit 6months $114,000. NTA 1c.Occupancy and rates close to est. http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=11762407

IMHO wouldn't know what to expect from these roosters down from .15 to .015 in 9 months, not too bad an effort from a billion dollar company or that what was claimed we had to look forward in the future !

[Joshuatree]

Back up re 42% in a month to 2c atp. Not much vol other than re 1 million through early Jan. Extra spekky; one i have in the NZX comp too.

[Meextr]

Does anyone know if their strip bars are included in this listing? Looking at capitalisation I am thinking not. I would like a share in a strip bar.

[kura]

Sadly not, just 2 properties for short term accomodation.

Was hopeing they would eventually tip some of their other assets into company.

[beetills]

Results should be out May/June so lets hope they also have a plan going forward.

[silu]

I drive past one of their Otahuhu properties on a regular basis and find it astonishing that anyone would like to live in it.

[beetills]

Housing shortage?
I'M SURPRISED THEY HAVEN'T INVESTED MORE INTO APARTMENTS ETC.Shortage will be around for a good while yet

[beetills]

Hoping against hope but with the AULD MUG coming back to Auckland could it be the time for the Chow Bros to shine.
Just hoping,no more than that

[Joshuatree]

How would CGL benefit beetles; what else have they got besides a couple of budget dosshouses?

[beetills]

Well as i say hoping against hope but with the cup back here i thought it might inspire them to raise some dosh and buy more property.
No expert on these things ,just an idea.

[Joshuatree]

Cheers beetles; yes they need some incentive, inspiration to motivate themselves to add value here and grow it; seems like they've forgotten about that:ohmy:

[Balance]

Hoping against hope but with the AULD MUG coming back to Auckland could it be the time for the Chow Bros to shine.
Just hoping,no more than that

BACKDOOR JOB - in more ways than one in this case.

You will be hopping for a long time, I reckon.

Only certain types go for backdoor jobs - Snakk, Plus SMS, Plexure, BIL, SeaDragon etc etc. You see any out performance amongst the backdoor types against say, SCL or THL?

I honestly cannot understand the attraction that backdoor holds for so many who have already lost tens of millions of dollars into the pockets of the backdoor merchants.

[beetills]

I agree however i went into this with eyes wide open,if they go tits up you won't hear me moan.
All i am saying is with tourism increasing yearly and now with the Auld Mug coming there are going to be a wealth of opportunities for accommodation orientated businesses.
Should they read this and like my idea they may decide to throw hooker my way.

[Brain]

I agree however i went into this with eyes wide open,if they go tits up you won't hear me moan.
All i am saying is with tourism increasing yearly and now with the Auld Mug coming there are going to be a wealth of opportunities for accommodation orientated businesses.
Should they read this and like my idea they may decide to throw hooker my way.

They may even give you a choice of hookers either Dane Coles or Codie Taylor

[beetills]

They may even give you a choice of hookers either Dane Coles or Codie Taylor
I do have some standards even in hookers.
Those 2 are too loose.

[percy]

I do have some standards even in hookers.
Those 2 are too loose.

Not so.
They are part of the "tight five."

[Meextr]

I have been hoping they would throw the strip bars into this business. Now that could make the AGM perks interesting.

[Joshuatree]

Juvenile delinquents you bunch; although you may all be in a retirement village getting your bums wiped. They say primal urges are one of the last things to go; after memory and incontinence:D

[minimoke]

I suppose i should really read the annual report emailed to me the other day. Probably a better chance if it was plastic wrapped and available only from behind a curtain

Anyhow - see its down 7.7% today so cant be good reading

[beetills]

Didn't make for to bad a reading imo.
Just wish they would announce how they are going to grow.

[Balance]

Didn't make for to bad a reading imo.
Just wish they would announce how they are going to grow.

This is a backdoor listing so the answer is pretty obvious?

More backdoor jobs - that's growth?

[Meextr]

I just wish they would put the lap dancing bars into the business. Along with discounts for shareholders.

[Balance]

I just wish they would put the lap dancing bars into the business. Along with discounts for shareholders.

Why would they put good businesses into CGL? Shareholders buying in know full well it's a backdoor thingi - only one outcome!

[whatsup]

What a bunch of muppets these two are imo. no plan nothing for us long suffering share holders to have hope in ! dam X X DAMM triple DAMM , should have stayed with the fast foods !

[dobby41]

What a bunch of muppets these two are imo. no plan nothing for us long suffering share holders to have hope in ! dam X X DAMM triple DAMM , should have stayed with the fast foods !

They don't care about you shareholders at all.
Never did and never will.

[Rob Optimist]

Beyond me why anyone would invest in these type of people....

[King1212]

Beyond me why anyone would invest in these type of people....

free lap dance bro!!!

[Blue Horseshoe]

Waiting for stock to cum div.

[minimoke]

Beyond me why anyone would invest in these type of people....
Some of us didn't - its just the way clapped out companies get given a new lease of life through back door twiddling

[beetills]

CHOW Brothers to invest 100m in Tech companies.
Hey boys don't forget about us.

[minimoke]

Oh well, there's another dividend I cant count on. They are going to keep the cash.

But on the bright side the share consolidation wil make it easier to figure out my current position.

[silu]

I have 107 shares! Bask in my glory!

[minimoke]

Something a bit amiss with ANZ Securities? Shows 1 trade of 1 share volume at $0.67 or $1 for a 10.8% fall so far today.

[beetills]

Looks like they valued the shares at 75c based on the last sale of 1.5c.so that would explain the 10%fall,not sure about the massive volume.

[minimoke]

I've been robbed!. Just got my Link Securities transaction statement and my 2 CGL shares have been consolidated to zero!. Well thats the end of the line for whatever investment that originally started as.

On the good news front the statement tells me I have shares in CSM Group Limited. No idea who they are.

And even better news - apparently the receivers of Dominion Finance Group reckon there is at least a 1 cent in the dollar left to come.

Happy days!

[winner69]

I've been robbed!. Just got my Link Securities transaction statement and my 2 CGL shares have been consolidated to zero!. Well thats the end of the line for whatever investment that originally started as.

On the good news front the statement tells me I have shares in CSM Group Limited. No idea who they are.

And even better news - apparently the receivers of Dominion Finance Group reckon there is at least a 1 cent in the dollar left to come.

Happy days!

Pity it wasn't 2 bitcoins .....then again they might even be zero one day

The consolidation probably done to eliminate punters like you from the registry

[minimoke]

Pity it wasn't 2 bitcoins .....then again they might even be zero one day

Just like my Authorship tokens.
Shame CGL didn't offer to buy me out. I would have accepted - anything!

[Hectorplains]

I've been robbed!. Just got my Link Securities transaction statement and my 2 CGL shares have been consolidated to zero!. Well thats the end of the line for whatever investment that originally started as.

On the good news front the statement tells me I have shares in CSM Group Limited. No idea who they are.

And even better news - apparently the receivers of Dominion Finance Group reckon there is at least a 1 cent in the dollar left to come.

Happy days!

You're undoubtly on to a good thing with CSM - http://www.csmgroup.co.nz/wp-content/uploads/2017/08/CSM.announcement-August-2017.pdf
Looks beautifully set for a backdoor job... Pug group anyone?

[minimoke]

You're undoubtly on to a good thing with CSM - http://www.csmgroup.co.nz/wp-content/uploads/2017/08/CSM.announcement-August-2017.pdf
Looks beautifully set for a backdoor job... Pug group anyone?
There's a lesson here about buying back door listing, penny dreadfuls and crap that sinks to the bottom. I had no idea I owned part of a scrap metal company. No idea how I got there either. Following the various reincarnations that saw me end up with CGL was hard enough - I cant begin to think what I started with to end up with CSM.

[whatsup]

IMHO This cr@ck of sh!I will fall to .20 before too long, the fish heads have no business plan nothing that will make it a growth stock, there is nothing here except BS in my view !

[beetills]

Looks like they are going to takeover the CGL seeing that they already own 90%.
Delisting for sure.

[Joshuatree]

Thanks beetles , didn't see that.; i have a tiny parcel.They control things and how do they set the price, maybe the av s/p in the 5 days previously to this announcement?

Notice of Dominant Ownership (https://www.nzx.com/announcements/318783)

[blackcap]

Don't forget sections 110 and 111 of the Companies Act you minority shareholders. (for what its worth)

[Joshuatree]

thanks blackcap, all new to me,heres 112
Price for shares to be purchased by company determined(1)

Within 5 working days of giving notice under section 111(2)(e) (http://legislation.govt.nz/act/public/1993/0105/188.0/link.aspx?id=DLM320497#DLM320497) that the board agrees to the purchase of shares by the company, the board must give to the holder of the shares written notice of—(a)
the price it offers to pay for those shares; and

(b)
how—(i)
the matters in subsection (2) were calculated; or

(ii)
the price was calculated under subsection (3) and why calculating the price using the methodology set out in paragraphs (a) to (c) of subsection (2) would be clearly unfair.





(2)

That price must be a fair and reasonable price (as at the close of business on the day before the date on which the resolution was passed) for the shares held by the shareholder, calculated as follows:(a)
first, the fair and reasonable value of the total shares in each class to which the shares belong must be calculated (the class value):

(b)
secondly, each class value must be adjusted to exclude any fluctuation (whether positive or negative) in the class value that has occurred (whether before or after the resolution was passed) that was due to, or in expectation of, the event proposed or authorised by the resolution:

(c)
thirdly, a portion of each adjusted class value must be allocated to the shareholder in proportion to the number of shares he, she, or it holds in the relevant class.



(3)

However, a different methodology from that set out in paragraphs (a) to (c) of subsection (2) may be used to calculate the fair and reasonable price for the shares if using the methodology set out in those paragraphs would be clearly unfair to the shareholder or the company.

(4)

The shareholder may object to the price offered by the board for the shares by giving written notice to the company no later than 10 working days after the date on which the board gave written notice to the shareholder under subsection (1).

(5)

If the company does not receive an objection to the price in accordance with subsection (4), the company must purchase all the shares at the nominated price no later than 10 working days after—(a)
the date on which the board’s offer under subsection (1) is accepted; or

(b)
if the board has not received an acceptance, the date that is 10 working days after the date on which the board gave written notice to the shareholder under subsection (1).



(6)

The time periods in subsection (5) do not apply if there is a written agreement between the board and the shareholder that specifically sets a different date for purchase of the shares.

(7)

In this section, resolution means the resolution referred to in section 110 (http://legislation.govt.nz/act/public/1993/0105/188.0/link.aspx?id=DLM320496#DLM320496) or 118 (http://legislation.govt.nz/act/public/1993/0105/188.0/link.aspx?id=DLM320611#DLM320611) that, due to it having been passed, entitles the shareholder to require the company to purchase the shareholder’s shares in accordance with section 111 (http://legislation.govt.nz/act/public/1993/0105/188.0/link.aspx?id=DLM320497#DLM320497).


Section 112: replaced, on 17 September 2008, by section 7 (http://legislation.govt.nz/act/public/1993/0105/188.0/link.aspx?id=DLM1036527) of the Companies (Minority Buy-out Rights) Amendment Act 2008 (2008 No 69).

[blackcap]

[h=5]thanks blackcap, all new to me,heres 112
Price for shares to be purchased by company determined Companies (Minority Buy-out Rights) Amendment Act 2008 (2008 No 69).
[/FONT][/COLOR]

No worries JT. There are some decent protections for minority shareholders in the Companies Act. I have used sec 110 and 111 twice now, and have an acquaintance who has used it on other occasions as well. It pays to read the fineprint or know the law from time to time.
This was compulsory study in our Accounting lectures (2nd year paper called Company Law)

[whatsup]

IMHO What a complete crap this company has turned out to be, nothing of real progress for how long nothing from these so called wise men. wonderful !!!

[Joshuatree]

Yes it has been like , we got to see a pole but no dancing:ohmy:

[beetills]

you have got to wonder why they listed.This is at least the third companythat i have had shares in that have had major shareholders owning heaps that has delisted.CDI appear to be very similar but as yet no movement their.

[Joshuatree]

CDI is pretty successful though , nice diagonal 10 year chart from 20c to 92c currently.
60c is it folks ,pleased to be going out of this accident .No buyers at all lol.

[silu]

I have for some reason 2 shares in this which makes my payout $1.20. I can leave a tip at the $1-store.

[Joshuatree]

CHOW GROUP PROFIT ANNOUNCEMENT TO THE NZX (UNAUDITED) (https://www.nzx.com/announcements/319383)$800,000 npat!!

Need to fill out and send this back to get your dough by 28th june.

Instrument of Transfer Notice (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/CGL/319060/280653.pdf)

[beetills]

Sent mine yesterday.
Why did these guys even list.Chow Bros added to the list of ''do not touch''.

[Joshuatree]

Getting back shares at a discount to "fair"value maybe? Or not enough shares to add up to much?

[Joshuatree]

Wow been paid out already , quicker than a bride off a nighty!!. Someone challenging valn as black cap pointed out could be done?. my eyes glaze over doing that sort of stuff unfortunately.

[silu]

Wow been paid out already , quicker than a bride off a nighty!!. Someone challenging valn as black cap pointed out could be done?. my eyes glaze over doing that sort of stuff unfortunately.

I was amazed at how quickly I got my $1.20 which unfortunately I have already spent.

[beetills]

Just checked my bank account and i am now flush.
Expert to determine if 60c is fair.Hope i don't have to pay back 2 fifths of nothing.Will be interesting,they have 28 days to give assessment.

[Joshuatree]

Don't forget sections 110 and 111 of the Companies Act you minority shareholders. (for what its worth)

There were sufficient objections to the 60c price and it was raised to 62c. All power to assertive shareholders, a lesson for me for one.

[steveb]

do you think they will have to pay silu his 4cents!

[silu]

do you think they will have to pay silu his 4cents!

Yes they did. Smallest payment I've ever received.