GTK - Gentrack

[Harvey Specter]

Looks like we will have a few IPOs in the next few months. As well as Serko, Gentrack is also looking to IPO:

http://www.stuff.co.nz/business/industries/10084736/Two-tech-firms-to-list-on-NZX

And an older article from NBR:

http://www.nbr.co.nz/article/gentrack-eyeing-listing-taps-takeovers-panels-coupe-accountant-shaw-board-bd-155726

[Harvey Specter]

With details

http://www.nbr.co.nz/article/gentrack-sell-shares-2-250-raising-1018m-ipo-bd-156721

According to its forecasts, revenue rises to $40.6 million in 2014 from $40.1 million in 2013, before climbing to $44.7 million in 2015. Net profit would be $3.7 million this year and $9.3 million in 2015.

[NZSilver]

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11262027

[mrt37]

Noob here, have read this forum a lot and now looking for some advice. I have a few investments, nothing major or risky just a few grand here and there (GNE and NZX smartshares). I'm interested in Gentrack mainly from knowing one of its new ind directors quite well - Andy Coupe, I've worked with him for a few years and rate him as an operator.

My question is how to make sure I get some shares (if I decide to go ahead). I'm thinking $2k. The RP&IS doesn't have a direct application form, it says to go through a broker. I don't have an account with any broking firm and I'm no big player, so how do I make sure I don't miss out? Would be grateful for suggestions

Cheers

[percy]

If you know Andy Coupe well enough ,ask him for help.
Other than that, find out who is the lead broker, and ask them for an allocation.You will most probably have to open an account with them.As you are wanting a modest amount ,people may go out of their way to help you.

[blackcap]

If you know Andy Coupe well enough ,ask him for help.
Other than that, find out who is the lead broker, and ask them for an allocation.You will most probably have to open an account with them.As you are wanting a modest amount ,people may go out of their way to help you.
ANZ securities (formerly Direct Broking) have offered me some. Might be an idea to give them a call.

[Harvey Specter]

ANZ securities (formerly Direct Broking) have offered me some. Might be an idea to give them a call.When you say 'offered' do you just mean the group email they sent everyone?

I am a new Direct/ANZ customer so not sure if they have levels of favouritism.

[Schrodinger]

ASB has it on their trading banner. A call for interest in the float.

[blackcap]

When you say 'offered' do you just mean the group email they sent everyone?

I am a new Direct/ANZ customer so not sure if they have levels of favouritism.

Yes that's the one.

[iceman]

When you say 'offered' do you just mean the group email they sent everyone?

I am a new Direct/ANZ customer so not sure if they have levels of favouritism.

I am interested to know that too blackcap. Have been an ANZ Securities customer for many years and am interested in some info on this IPO.
Have emailed them.

[Snow Leopard]

Good to see something 'tech' listing that actually makes a profit and intends to pay a small dividend.

So the aim appears to be to pay off the debt, give a few current shareholders the opportunity to sell down their stake and then go for world domination.

I think that $2.50 a share (and a forward P/E of 18) is dreaming, and nearer the $2 mark would be the right price - but who knows what the book building will come up with.

Best Wishes
Paper Tiger

[nextbigthing]

Is mild interesting an Indonesian dish? I think you got ordering breakfast mixed up with your post PT :)

[Snow Leopard]

Is mild interesting an Indonesian dish? I think you got ordering breakfast mixed up with your post PT :)

For mild interesting (breakfast) please read:
nasi putih, terong, telur, sambul dan yang ini [white rice, eggplant, egg, sambal :t_up: and this (some green vegetable dish I did not know the name of)]

For mild interesting (title) please read:
"maybe interested"

:p

Best Wishes
Paper Tiger

[iceman]

ANZ securities (formerly Direct Broking) have offered me some. Might be an idea to give them a call.

For those interested, all the info on this IPO is available on the ANZ Securities website. Left hand side under " Investment Opportunities"

[GoldenStag]

I think that $2.50 a share (and a forward P/E of 18) is dreaming, and nearer the $2 mark would be the right price - but who knows what the book building will come up with.

Best Wishes
Paper Tiger

Agree. The P/E numbers seem a little high to me without a solid growth plan. Otherwise just buy TEL, MEL etc and get somewhat guaranteed dividends with less risk.

Frustrating being on the retail side and only knowing the price after I've put in the firm.

Who is going for this one?

And a silly noob question - I can't tell from the prospectus if Australians can take part in the IPO or have to buy in the secondary market. Does anyone know?

[vorno]

So, with the deadline looping for 10am tomorrow are there any latecomers planning to go for it?


By stag do you mean buy & sell quickly for the likely initial gain?

[newtrader]

Can someone explain what the 10am deadline is for exactly? Firm interest?

And how is this different from the general offer?

[vorno]

Can someone explain what the 10am deadline is for exactly? Firm interest?

And how is this different from the general offer?

It was the deadline from my broker for registering interest really.

"Please advise us by email no later than 10am Wednesday 4th June 2014 if you would like to register your firm interest. Once you have registered your interest we will contact you by phone to confirm this and the application process.

The Offer opens on Monday 9th June 2014, we will contact you by email around this time providing the Investment Statement with application form. ASB Securities will allocate on a first in first served basis and applications may be subject to scaling.

The time frame for the Offer is tight, therefore if you do wish to register please let us know at your soonest convenience. Should you wish to discuss the offer further, please don’t hesitate to call us on 0800 272 732, option 2."

[macduffy]

Can someone explain what the 10am deadline is for exactly? Firm interest?

And how is this different from the general offer?

I don't think there is any "general offer". The issue will be tendered for by brokers who will presumably base their numbers on demand from clients - among other factors.

[vorno]

I don't think there is any "general offer".

Correct it would seem: "Please contact your financial advisor or a NZX firm to apply for shares or get advice"

[couta1]

Correct it would seem: "Please contact your financial advisor or a NZX firm to apply for shares or get advice"
ANZ close off is at close of business tomorrow and you will be bound to pay for what you ask for depending on how many they can obtain for you of course, will have heavy scaling I'm picking.

[GoldenStag]

.... depending on how many they can obtain for you of course, will have heavy scaling I'm picking.

Good to see someone making a prediction on this one. I'm curious as to why you might think heavy scaling? This seems to be the quietest IPO yet with hardly any discussion (here), very little articles in the press, and no analysis (does anyone know of any?). So, any publicity or price tension on the IPO would have to come from the institutions knowing about it and wanting more, rather than the retail side.

I would be quite happy to see heavy scaling which would prove support for the company and its approach. However; I'm still undecided as to whether this will actually happen. Intueri had a tiny register on its float as well (but went well)

[Harvey Specter]

will have heavy scaling I'm picking.Why?........

[couta1]

Why?........
People I've discussed offer with are of the opinion it will be a very desirable offer but we will have to wait and see, do you have any reasons why it may not be heavily scaled?

[newtrader]

When you register a firm interest, how does that work? Do you express a dollar amount of interest at different prices? And is it a 'firm' interest, regardless of the IPO price?

[couta1]

When you register a firm interest, how does that work? Do you express a dollar amount of interest at different prices? And is it a 'firm' interest, regardless of the IPO price?
You express a dollar value as final price is unknown until after book build.,your dollar value will be divided by share price once set, the number of shares you receive will them be determined by degree of scaling applied if any.

[newtrader]

You express a dollar value as final price is unknown until after book build.,your dollar value will be divided by share price once set, the number of shares you receive will them be determined by degree of scaling applied if any.

So you make a commitment of a dollar amount without knowing the price in advance? i.e. just like the MRP and MELCA IPOs?

[couta1]

So you make a commitment of a dollar amount without knowing the price in advance? i.e. just like the MRP and MELCA IPOs?
Correct newtrader

[macduffy]

In strict legal terms, you're not committed until you sign the application form - although your broker may feel otherwise if he/she is unable to place the shares elsewhere - and may never talk to you again!

[iceman]

So you make a commitment of a dollar amount without knowing the price in advance? i.e. just like the MRP and MELCA IPOs?

This is the bit I don´t like. I have read the Prospectus and like this company as it does fit my "criteria" as an investment. But with the indicative price range being quite broad, I feel it is fully priced at the top end of that range. With the added unknown of scaling, I have decided that my funds are better kept where they are and will be staying away from this IPO. Will definitely add this Co to my waychlist though and quite likely add it to portfolio in the future, pending further runs on the board.
Should note that I have assessed this for long term only as I´m not into stagging.

Wish everyone luck with this.

[percy]

I too enjoyed reading the prospectus and was pleasantly surprised.As I have taken the top off one of my Aussie winners, I have put my hand up with Craigs for a few.Profitable,growing ,strong balance sheet and paying a dividend.

[macduffy]

I agree, percy. A bit different to most of the recent tech floats in that it's actually making profits! I'm in for a modest number to further over-diversify my already over-diversified portfolio.

[percy]

I agree, percy. A bit different to most of the recent tech floats in that it's actually making profits! I'm in for a modest number to further over-diversify my already over-diversified portfolio.

Made my day/night knowing I am not the only one well over-diversified !!! lol.

[vorno]

Interesting to see that they think their computer equipment "useful life" is 3-7 years! Somehow, if they didn't replace anything in 3-7 years I think you'd have another Govt-IT incident!
However, jokes aside looking at their profit forecast vs dividend payments (80%) there is practically no profit 2014 and 2015 with a dividend of what was it? 4-5%? Can't find the page now.

So yes they are making a profit, however unless they manage to make a big-break overseas I cannot see their stock doing well medium-term.

Opinions?

[GoldenStag]

...looking at their profit forecast vs dividend payments (80%) there is practically no profit 2014 and 2015 with a dividend of what was it? 4-5%? Can't find the page now.

So yes they are making a profit, however unless they manage to make a big-break overseas I cannot see their stock doing well medium-term.

Opinions?

Their dividend payment is based on NPATA rather than NPAT I think. So, dividends should get paid out if I read the prospectus correctly. Can someone check my thinking please?

[Harvey Specter]

Anyone heard how the bookbuild went?

[tango]

Do you think the Trustpower/Metrix deal will have an impact on Gentrack pricing and value?


MightyRiverPower fell 0.2 percent to $2.25. The state-controlled energy company's metering business Metrix will be Trustpower's preferred provider to supply its 225,000 customers with smart meters

[Harvey Specter]

Do you think the Trustpower/Metrix deal will have an impact on Gentrack pricing and value?
No. Metering services will be provided by vector and MRP going forward - scale matters. Meridian are looking to offload their meters at the moment which is probably the last big one too go.

That charging is from meter provider to retailer. The retailer still has the end customer relationship which is where agent rack is used I think.

[belted galloway]

Anyone heard how the bookbuild went?

$NZ2.40

Certainly not cheap.

"UBS closed the books on Kiwi software developer Gentrack’s initial public offer on Thursday night, fixing the price at $NZ2.40 a share mid-way through the bookbuild."

http://www.afr.com/p/opinion/gentrack_ipo_priced_at_nz_70r8JN0rAYiJ8lwjnEEfJI

[tango]

No. Metering services will be provided by vector and MRP going forward - scale matters. Meridian are looking to offload their meters at the moment which is probably the last big one too go.

That charging is from meter provider to retailer. The retailer still has the end customer relationship which is where agent rack is used I think.

Thanks Harvey. I thought it was a potential customer lost.

$2.40 suggests it was popular??? Did anyone here apply?

[Harvey Specter]

$NZ2.40

Certainly not cheap.Thanks - will be interesting to see what the scaling is like. Did they leave something in it for the buyers or did they extract everything they could for the Vendors.

Disc: Put my hand up for a small holding for a long term hold but expected it to go for less. Will now see how it goes on open.

[percy]

Thanks Harvey. I thought it was a potential customer lost.

$2.40 suggests it was popular??? Did anyone here apply?

Yes,I applied through Craigs.They got very few.Do not know yet if I will receive any.

[Harvey Specter]

More details here:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11268845

[Harvey Specter]

Yes,I applied through Craigs.They got very few.Do not know yet if I will receive any.Haven't heard from ANZ - they must still be picking their favorite customers.

[RRR]

I also applied for a few from ASB. I don't know how much I will end up getting since ASB is a "passive broker" and they don't bargain much for their customers!

[tango]

I applied through ANZ. Haven't heard anything yet. Their email said notification by Friday morning at the latest.
Fingers crossed...

[GoldenStag]

Haven't herd from ANZ - they must still be picking their favorite customers.

I talked with ANZ. They described the scaling as 'brutal'. Don't know how much they will give us yet though. they are still working it out.

[Harvey Specter]

I talked with ANZ. They described the scaling as 'brutal'. Don't know how much they will give us yet though. they are still working it out.Brutal is right. The minimum they are allocating is $1k. That's what I got.

Put those in the bottom draw and forget about them. Not worth it.

[bowser]

How much did you apply for harvey?
I rung ASB and they don't have any details until monday, unsurprisingly.

[goldfish]

I only got $1000 worth to, i dont get it, if they are raising 100 mill how can we be scaled so much, i guess the main thing is the oseas insto' s get millions worth so they can stag back to us for a big easy profit , like genesis. This is just bs once again.

[Xerof]

Who is the lead arranger? UBS? Sod the retail brokers in that case

[goldfish]

Do who got them all? 100 million is a lot. We gunna see 50 million shares listed at 10% profit on opening day for a couple of oseas instos?

[vorno]

Do who got them all? 100 million is a lot. We gunna see 50 million shares listed at 10% profit on opening day for a couple of oseas instos?

It's always the bloody institutions.

[sharp]

$1,000 allocation for me too... very disappointed... funds going back into other techies incl DIL (noticed that their price has slumped since the ipo news)

[tango]

Ditto $1000 from ANZ

Can't decide whether to sit on them or sell. I was planning to hold most or all of them but with such a small allocation I'm not sure it's worth it.

[percy]

I look to be getting $4,000 worth.

[tango]

I look to be getting $4,000 worth.

Which broking firm do you use?
Updated: I see you're with Craigs


I don't know why ANZ kept taking orders. They must have known there would be scaling. I know when I spoke to my broker before the close off he was cagey about it and said they weren't expecting anyone to get their firm allocation. Bit of a joke really.

[newtrader]

How does everyone feel about the price set at $2.40? Is that a bit expensive given the the prospective dividends for 2014 and 2015?

disc: Applied for a few from ASB. Wondering if I will actually get any at all.

[goldfish]

How does everyone feel about the price set at $2.40? Is that a bit expensive given the the prospective dividends for 2014 and 2015?

disc: Applied for a few from ASB.

That gives me a whole 416 shares, can i even sell that small amount through anz dont they have limits...

[couta1]

That gives me a whole 416 shares, can i even sell that small amount through anz dont they have limits...
No probs minimum is 100 shares when price exceeds $2 but not greater than $5.

[tango]

That gives me a whole 416 shares, can i even sell that small amount through anz dont they have limits...
Yes you can sell 416 shares

I think I'll keep mine even though it's a pathetic amount. I'm interested to see how they do in a year or two

[goldfish]

OK thanks...

[Balance]

I look to be getting $4,000 worth.

You must be a good client of Craigs.

[sharp]

You must be a good client of Craigs.

Or one of the leggy blonde assistants there with preferential treatment...

[percy]

You must be a good client of Craigs.

I have dealt with them for a good number of years.

[Xerof]

I got scaled 52%, so by the sounds of things, not too bad.

[tango]

I got scaled 52%, so by the sounds of things, not too bad.

Which broker are you with?
I asked for $20k got $1k

[Xerof]

Which broker are you with?
I asked for $20k got $1k

It wouldn't assist to tell you. We have a good professional relationship, and I show him a lot of business, particularly on fixed interest. For a small outfit, my volumes would be important to him, despite just being a regular joe. Everything is relative I guess. I never ask his advice, just tell him what I want to do, and he does it, clipping the ticket on the way through.

I asked for 25k, got 12k $$

[tango]

It wouldn't assist to tell you.

Forget I asked! ;)
Seriously that's not a helpful answer

[couta1]

It wouldn't assist to tell you. We have a good professional relationship, and I show him a lot of business, particularly on fixed interest. For a small outfit, my volumes would be important to him, despite just being a regular joe. Everything is relative I guess. I never ask his advice, just tell him what I want to do, and he does it, clipping the ticket on the way through.

I asked for 25k, got 12k $$
Good on you,its a nice feeling when you get a good allocation I felt good when I got my Genesis one.

[Mothman]

I was scaled back to $1000 share minimum, not worth the effort, thats the final straw in moving my business from ASB to one of the full service brokers.

[macduffy]

I was scaled back to $1000 share minimum, not worth the effort, thats the final straw in moving my business from ASB to one of the full service brokers.

That may not be the answer. My sources tell me that all retail brokers were scaled drastically. Unless you were an institutional client of UBS - I wasn't! - it was just hard cheese!


:t_down:

[Balance]

It wouldn't assist to tell you. We have a good professional relationship, and I show him a lot of business, particularly on fixed interest. For a small outfit, my volumes would be important to him, despite just being a regular joe. Everything is relative I guess. I never ask his advice, just tell him what I want to do, and he does it, clipping the ticket on the way through.

I asked for 25k, got 12k $$

You have done well.

[Mothman]

Yeah I should just suck it up I suppose. May deploy some funds into Asaleo across the ditch.

[Joshuatree]

Looks like I'm going to get a few thousand bucks worth, pleasant surprise as i hadn't given a number, was non committal but expressed possible int.

[Joshuatree]

Appreciate the blunt knife belg:)

[percy]

Appreciate the blunt knife belg:)

Me too,Belgarion.!!

[Onion]

Note how I used your and you're correctly

Your use of you're reminds me of spelling skills in the days of yore.

[dingoNZ]

I got the minimum allocation, $1,000. Still happy with that considering my broker told me it was 5x oversubscribed.

[RGR367]

I got the minimum allocation, $1,000. Still happy with that considering my broker told me it was 5x oversubscribed.

Looks like this will explode as most of everybody I know only got the minimum allocation. I'll just sell my miniscule parcel and be done with it. GL to those who have secured a bundle.

[Balance]

I got the minimum allocation, $1,000. Still happy with that considering my broker told me it was 5x oversubscribed.

I am told that retail investors are getting an allocation only because they need to comply with number of shareholders in register. Otherwise, the institutions (especially overseas) would have taken this issue in total right from day 1.

[Balance]

Advantage Group anyone?

Xero, anyone?

Diligent, anyone?

[dingoNZ]

I am told that retail investors are getting an allocation only because they need to comply with number of shareholders in register. Otherwise, the institutions (especially overseas) would have taken this issue in total right from day 1.


Will be interesting come open what SSH's we see and who will be holding, I can almost guarantee some institutions will be trigger happy waiting for open to gobble some up.

[Balance]

Will be interesting come open what SSH's we see and who will be holding, I can almost guarantee some institutions will be trigger happy waiting for open to gobble some up.

They are all looking for 10 baggers for their high growth/IT/venture funds and you cannot get that with 95% of the IPOs coming onto the market.

[couta1]

Put bluntly: if you're there for the long haul - You need your heads read! Stag and run like hell!

(Note how I used your and you're correctly?)
She's going to be a very boring stag party no sooner the guests arrive take a quick swig on a Tui then out via the nearest exit oh and of course don't forget to pay your exit fee of $29.90 or so on your way out for your Short stay:cool:

[waikare]

She's going to be a very boring stag party no sooner the guests arrive take a quick swig on a Tui then out via the nearest exit oh and of course don't forget to pay your exit fee of $29.90 or so on your way out for your Short stay:cool:

In my case it’s going to be a very boring stag party, was only allocated $1000.00 worth of shares, by the time I clip my ticket , probably not worth selling them on listing or soon after. May have to be in for the long haul.

[tango]

Ditto - I am planning to hold my measly $1000 parcel. Or at least I was... after yesterday's Serko debut it seems tech stocks are out of favour.

[percy]

I only buy shares I am happy to hold.Gentrack prospectus read well to me,so it will be interesting seeing how it lists.

[bull....]

Good Luck! - i dont have any was offered some but quantity wasnt enough so turned down, i be surprised if it does a serko but then you never know sector sentiment is pretty bad

[Arndale]

Is it listing at 11am like Serko yesterday?

[tango]

Good Luck! - i dont have any was offered some but quantity wasnt enough so turned down, i be surprised if it does a serko but then you never know sector sentiment is pretty bad

You could have given it to me!

[tango]

Listing midday Arndale

[dingoNZ]

Listing midday Arndale

12pm.

Depth is looking promising come open.

[Balance]

12pm.

Depth is looking promising come open.

Looking like $2.50 with the nervous nellies getting out?

The experience of the newies piling into GeoOP and SNK at over $3 and 15c respectively is going to stay for a while.

[dingoNZ]

Some people have set sell orders below the initial open already, not a great way to kick things pre-open.

I only managed to get 416 shares so just happy to sit and watch for a year or so.

[Balance]

Some people have set sell orders below the initial open already, not a great way to kick things pre-open.

I only managed to get 416 shares so just happy to sit and watch for a year or so.

$2.58 - well priced outcome.

Those who were putting their shares on at $2.00 probably bought GeoOP at $3.00?

[tango]

I'd like to buy some more but I don't want to pay $2.58 so I'm sitting on the tiny 416 shares I got on issue. Much better than Serko!

[waikare]

This afternoon they released their Interim Report, (NZX website) I though this would have been released prior to listing or if it wasn't ready by then, delaying the IPO until it was ready.

[winner69]

This afternoon they released their Interim Report, (NZX website) I though this would have been released prior to listing or if it wasn't ready by then, delaying the IPO until it was ready.

On the ASX disclosure form they didn't tick the box for supplying half year accounts and said NA as not not normally prepared

Interestingly they turned up later.

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

Hope no surprises in it?

[Snow Leopard]

Just read the Half Financial Year report and the EPS of $0.12 surprised me, for a moment.

But of course that is based on a totally different number of shares.

The half year NPAT divided into the current number of shares is $0.033 (3.3c)

Best Wishes
Paper Tiger

[Joshuatree]

Im happy with the listing and am placing GTK in my longer term investment portfolio. like the defensiveness and growth prospects.

[percy]

Just read the Half Financial Year report and the EPS of $0.12 surprised me, for a moment.

But of course that is based on a totally different number of shares.

The half year NPAT divided into the current number of shares is $0.033 (3.3c)

Best Wishes
Paper Tiger

SML did the same.
I do not like it this time either.

[percy]

I'm fcking amazed! Its not worth that much.

To be put on the record: I think any buyers are just plain mugs!

Big volume traded yesterday and today.
Would appear to be a lot of mugs with large cheque books.!!!

[dingoNZ]

I'm fcking amazed! Its not worth that much.

To be put on the record: I think any buyers are just plain mugs!


I'm happy to buy a tech stock that's making a profit, is planning to pay dividends and has room for reasonable growth, guess that makes me a mug huh?

[macduffy]

No, not at all. Paying a full price, perhaps, but that's what makes a market! I'd have been happy to take a few at the issue price and will keep them on my watchlist.

[bull....]

Is UBS shorting GTK now???

interesting these situations normally involve them lending to someone else to short

[RRR]

Not a bad début and because my IPO allotment was a such a small amount I bought some more.

[bull....]

if someone shorted the stock they could get some payday shortly with this profit downgrade

[goldfish]

Well i got some at 215 seems a tad overdone to me, just looking for the bounce.

[bull....]

that shorter sure was smart cookie

[Roberto]

If you can't spell "forecast" in your market announcement, you probably deserve a 13% drop in SP...https://www.nzx.com/companies/GTK/announcements/253360

[trackers]

Can I say "I told you so"? ... Sorry but I did try to warn people.


Well done belg...this is a shocker

[psychic]

that shorter sure was smart cookie

lol classic. Probably one of the unhappy Customers...cunning :)

[couta1]

Can I say "I told you so"? ... Sorry but I did try to warn people.
Stagged it for a meal at the local Indian plus a nice bottle of wine:cool:

[percy]

Stagged it for a meal at the local Indian plus a nice bottle of wine:cool:

Well done Couta1.
Belgarion.I should of listened to you.[did do with FIN, thanks]
Read the prospectus.Thought they had a good sound history,and were/are paying a dividend.
I was wrong,so sold on the open this morning.Luckily I only had 1666,yet I had considered a week ago of buying more.
Always a good wake up call when you get the odd one wrong.!!!!!

[goldfish]

And im out, happy with 6.5% for the morning. Was hopeing for more but no one went broke taking profit.

[couta1]

Put bluntly: if you're there for the long haul - You need your heads read! Stag and run like hell!

(Note how I used your and you're correctly?)
Give credit to a man when its due:t_up:

[Cobber]

Big volume traded yesterday and today.
Would appear to be a lot of mugs with large cheque books.!!!

Amazing how 5 days can make a big difference. I bet they wished they left their cheque books in the top drawer now.

[RGR367]

Why would owners ever sell? If you have the golden goose, you'd keep it right? Every time owners sell at IPO I'm highly suspicious.

Doesn't every owner sell in some form or another when they open for IPO?

[Harvey Specter]

Doesn't every owner sell in some form or another when they open for IPO?no. If you own 100% of a business worth $50m, and you raise $50m of new cash, you now have 50% of a 100m business. The amount of money you have at risk is still the same (that assumes the IPO is priced right).

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

[RGR367]

no. If you own 100% of a business worth $50m, and you raise $50m of new cash, you now have 50% of a 100m business. The amount of money you have at risk is still the same (that assumes the IPO is priced right).

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

TY Harvey S. for clarifying that to me.

[winner69]

Company couldn't talk to Radionz on Friday because they were in private briefing with analysts.

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

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

[winner69]

The Radionz report
http://www.radionz.co.nz/audio/player/20144163

Maybe gentrack will front up tomorrow

[bull....]

http://www.stuff.co.nz/business/industries/10345808/Gentrack-mum-on-contract-dispute

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

[winner69]

It does seem rather unfair 'to privately brief analysts' on Friday but make no more public comment

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

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






Gentrack won't comment on profit warning soon after listing

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

By Suze Metherell

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

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

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

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

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

[winner69]

On the ASX disclosure form they didn't tick the box for supplying half year accounts and said NA as not not normally prepared

Interestingly they turned up later.

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

Hope no surprises in it?

After Fridays debacle one needs to wonder about their compliance capability. I believe they overlooked that Half Year report (might be wrong) and were reminded about it.

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

Looks like small shareholders don't count

[dingoNZ]

FMA will be undertaking an investigation.

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

[bull....]

There is maybe a interesting story here

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

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

[Balance]

Want to take a bet on that? It's pretty much 50/50, and even if they do I highly doubt anything will happen. Or did you hear something through the grapevine?

Moose, may I make a suggestion?

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

[Balance]

Already done so. Ridiculous...

Good on you. Moose. I meant the suggestion sincerely and it was not meant as a potshot at you or anyone.

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

[Balance]

FMA will be undertaking an investigation.

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

A start.

http://www.nbr.co.nz/stayconnected?return=160346

[axe]

Good on you. Moose. I meant the suggestion sincerely and it was not meant as a potshot at you or anyone.

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


The warning sign for me was the interim report becoming available at 2.56PM in June 25th. I thought this information would have been good to have on the table at prospectus time.

[Joshuatree]

FORECAST

6 August 2014
Gentrack Update on Profit Guidance of 1 August 2014
On 1 August 2014, Gentrack Group Limited (Gentrack) announced that its financial results to 30 September 2014 are likely to be lower than were forecast in Gentrack’s prospectus dated 4 June 2014. The announcement stated that this was primarily due to:
- a delayed go-live on a major project where a dispute has recently arisen between Gentrack and the customer on the payment for the extra effort required from Gentrack to complete the project, which Gentrack expects to be subject to mediation; and
- a delay in signing a substantial upgrade contract with an existing customer, which is still expected to be signed by the financial year end.
Following media and third party commentary since Gentrack’s release on 1 August 2014, Gentrack wishes to provide the following additional details:
- in each case the customers involved are large utility customers with whom Gentrack has long standing relationships and expects to do significant additional work with in the future;
- in the case of the disputed payment, Gentrack continues to work with the customer towards a successful system implementation and fully expects to have an ongoing long term productive relationship with this customer; and
- in the case of the delay, Gentrack is already working on the project in a limited capacity under an existing contract while the final legal details of a new contract (to reflect the enhanced level of work to be undertaken) are being agreed.
The facts and circumstances that led the Board to conclude that the FY14 forecasts should be revised down have arisen recently, after Gentrack was listed on the NZX and ASX. The likely financial impact of those changed circumstances was established very shortly before the release to the market on 1 August.
 
The details surrounding these issues are commercially sensitive and confidential between Gentrack and the relevant customer. The Gentrack Board considers that it is in Gentrack’s, and therefore its shareholders, best interests to work towards resolving the dispute, and signing the delayed contract, on a confidential basis and will continue to do so.
Chairman John Clifford says “The Gentrack Board deeply regrets the fact that it has to revise its FY14 forecast downwards so soon after listing on the NZX and ASX. Gentrack remains a highly profitable business with excellent software solutions and a wide utility and airport customer base.”
The Directors do not envisage any change to either the forecast dividend of $2.6m to be paid in December 2014 or the outlook for FY2015, which remains as forecast in the Prospectus.

[winner69]

Just a storm in a teacup eh

No worries

A bit of a bugger that listing was to give the company a greater level of credibility in the eyes of customers (see we are financially stable and capable of doing your work for years to come) also means that little problems / hiccups along the way have to be told to the market (we hate doing that)

[RGR367]

Well if you're a long-term, down the track believe than you just hit the jackpot getting this puppy we below IPO...

Or you could wait and see if she cracks $2. Sentimwnt can be a b**** sometimes ;)

Sometimes it's a blessing in disguise when you got scaled really bad during IPO as you can still afford to bear an 11% paper loss. But this company has eggs on its name now so I'll just wait when the sp really hit the low before I look at it again. Yeah, $2 will be soon.

[sharp]

GTK prospectus shows that even at $2.00 per share the P/E ratio is 15.2 - not taking into account the recent earnings downgrade.

It truly shows the bull market that we are in given that the SP is remaining above $2... its all speculation - where it should be about the fundamentals - my two cents.

[winner69]

GTK prospectus shows that even at $2.00 per share the P/E ratio is 15.2 - not taking into account the recent earnings downgrade.

It truly shows the bull market that we are in given that the SP is remaining above $2... its all speculation - where it should be about the fundamentals - my two cents.

The 14 of 21 shareholders who sold shares into the ipo might agree with you

They done well haven't they

[sharp]

The 14 of 21 shareholders who sold shares into the ipo might agree with you

They done well haven't they

Agreed. I must admit, I too have played the speculation - won some and lost some.

In my opinion, those 14 of 21 shareholders who sold saw the IPO as an exit opportunity, to realise the capital from the business from this bull market and then sugar coating the IPO as a opportunity to pay down debt (which is true but I think it is more about them realising their capital and pocketing the cash).

[sharp]

GTK prospectus shows that even at $2.00 per share the P/E ratio is 15.2 - not taking into account the recent earnings downgrade.

It truly shows the bull market that we are in given that the SP is remaining above $2... its all speculation - where it should be about the fundamentals - my two cents.

There are still people buying in at $2.15 - I wonder how many of these people have actually done their due diligence and the sums and compared other like stocks before clicking the buy button or ringing their broker to place an order.

Fundamentally the SP should be below the $2 mark until such times the financial stack up.

What a speculative and bullish world we live in today.

[axe]

There are still people buying in at $2.15 - I wonder how many of these people have actually done their due diligence and the sums and compared other like stocks before clicking the buy button or ringing their broker to place an order.

Fundamentally the SP should be below the $2 mark until such times the financial stack up.

What a speculative and bullish world we live in today.

I'm not really sure whether people really do due dilligence while putting the strategy of "me catchy fally knifey" into play.
I will be watching for the bottom and considering re-entry but I'm picking a downtrend until early november where the prospect of an upcoming divi should grab some short term attention.

[Xerof]

The 14 of 21 shareholders who sold shares into the ipo might agree with you

They done well haven't they

Hear what you're saying Winner, but doesn't always end in tears for the punters - Synlait is a great example of leaving some meat on the bones.

discl: stagged these early, when disappointed how little stag there was given the hype (cheers belg)

[paddy335]

This whole situation reeks of flagrant corruption/manipulation. My arse they weren't aware of the issues at listing, how naive do they think people are. I'm seriously pissed. Bastards.

[couta1]

GTK prospectus shows that even at $2.00 per share the P/E ratio is 15.2 - not taking into account the recent earnings downgrade.

It truly shows the bull market that we are in given that the SP is remaining above $2... its all speculation - where it should be about the fundamentals - my two cents.
Bull market, not when I look at my portfolio must be a bull without horns, I think the Bears have moved in by stealth and are enjoying the picnic, the NZX looks pretty crappy to me at the moment.

[dingoNZ]

Bull market, not when I look at my portfolio must be a bull without horns, I think the Bears have moved in by stealth and are enjoying the picnic, the NZX looks pretty crappy to me at the moment.


Exactly my thoughts of late, with AIR and MET being the only holdings I'm expecting some strong results from. The ASX at the moment is looking all too inviting.

[winner69]

Bull market, not when I look at my portfolio must be a bull without horns, I think the Bears have moved in by stealth and are enjoying the picnic, the NZX looks pretty crappy to me at the moment.

Said bull markets don't end with a crash .....usually a slow decline from the top ....I like your bears moving in by stealth, good description.

My view overall decline when the RYM and SUM stopped climbing a few months ago

[Joshuatree]

Yes RYM a good bellwether stock Sum less so ; both under the 200DMA but not MET. Think you're over reacting paddy. **** happens.

[Joshuatree]

pop that bubble and get out of that suit:D

[bull....]

does anyone know if you brief a select group of people about your business sensitive info before telling the market is that a breach of disclosure law in nz ?

In australia it is considered that.

[winner69]

does anyone know if you brief a select group of people about your business sensitive info before telling the market is that a breach of disclosure law in nz ?

In australia it is considered that.


Way of the world - some have and some have not

[axe]

does anyone know if you brief a select group of people about your business sensitive info before telling the market is that a breach of disclosure law in nz ?

In australia it is considered that.


I am 100% sure that the institutional investors would have not traded or advised anyone to trade in Gentrack shares if they had received price sensitive information during the briefing that was not publicly available. Because if they did, it might have been considered insider trading.


https://www.fma.govt.nz/glossary/insider-trading/

Insider trading is when a person with materially price-sensitive information about a public issuer that is not generally available to the public buys or sells (or encourages others to buy, hold or sell) the issuer’s securities to make a profit or avoid a loss. New Zealand law prohibits insider trading.

So if they had traded in shares while in possession of inside information, they could even find themselves criminally liable. But again, I am 100% sure that this did not happen at all.

[bmrm]

I am 100% sure that the institutional investors would have not traded or advised anyone to trade in Gentrack shares if they had received price sensitive information during the briefing

The thing is though, NOT trading can also be influential. If you were otherwise going to exploit this situation, and get confidentially talked around to inaction, that is also a concern.

[bull....]

http://www.stuff.co.nz/business/industries/10371571/Gentrack-knew-of-project-delay

pretty poor all round really

[Onion]

Or if you don't receive the email, you can go to: http://www.chrislee.co.nz/market-news.

[Balance]

https://www.nzx.com/regulators/FMA/announcements/257415

Totally to be expected - so much for the FMA protecting the interests of investors.

You read it loud and clear from the folks at the FMA - risks are there and unless they are blindingly obvious, they are too damned hard for the FMA to warn against or take action against.

[Balance]

https://www.nzx.com/regulators/FMA/announcements/257415

Totally to be expected - so much for the FMA protecting the interests of investors.

You read it loud and clear from the folks at the FMA - risks are there and unless they are blindingly obvious, they are too damned hard for the FMA to warn against or take action against.

[bull....]

I had to chuckle when I read about what is considered im-material and what is considered material in a disclosure. Anyway the market considered it material thats why the share price is f..ked and they have lost market trust. I didnt buy any in the IPO thank goodness but feel for those who did.

[BlackPeter]

GTK stood now for some time in the "naughty corner", but if we look at the fundamentals, then they don't look that bad compared to some of the other currently emerging software companies. If we compare them e.g. with WYN, XRO, ERD, OHE then GTK is at this stage the only candidate not writing losses. As well - it even pays a dividend and can still show off a 2 digit CAGAR (11.2% over the last 6 years).

SP currently still at a discount to the IPO ($2.50) and in an uptrend. Tempting enough for me - I dipped the toes into the water and bought a small parcel.

[KiwiGekko]

GTK stood now for some time in the "naughty corner", but if we look at the fundamentals, than they don't look that bad compared to some of the other currently emerging software companies. If we compare them e.g. with WYN, XRO, ERD, OHE than GTK is at this stage the only candidate not writing losses. As well - it even pays a dividend and can still show off a 2 digit CAGAR (11.2% over the last 6 years).

SP currently still at a discount to the IPO ($2.50) and in an uptrend. Tempting enough for me - I dipped the toes into the water and bought a small parcel.

I wrote about GTK a wee while ago here: http://www.sharetrader.co.nz/showthread.php?9806-ikeGPS-IPO&p=525183&viewfull=1#post525183 and this post reminded me that I should probably put it here too. The big difference between GTK and some might say its a benefit is the fact as a business they're very established and have been around for years. Unfortunately for technology companies being established is not necessarily a good thing due to the rate at which the industry is evolving and the age of their software (or technology stack) can bring with it a lot of Technical Debt: http://en.wikipedia.org/wiki/Technical_debt and the biggest Technical Debt (imho) that GTK currently have is they're using a very old technology stack - which I know for a fact is having some negative effects for their customers and they are developing their own.

As a stock its fair to compare these companies, but I think GTK and its technology stack are quite unique to the other ones listed and from a productivity perspective this does make them less efficient (less competitive) as a result. Also, it hinders their growth potential too, finding staff willing to work with older technology stacks given there is a shortage of IT staff can be very challenging. Finding great staff? Impossible. If they tried to hire as many people as XRO or OHE they would struggle in my opinion - so this isn't a growth stock unlike the WYN, XRO & ERD's above - OHE well time will tell there as I believe they're undergoing a massive retooling / product redevelopment exercise at present.

Ignoring the other facts for a second, I might consider buying GTK as a short term hold - but I think the long term fundamentals involve some bumpy retooling (increased costs) or slow erosion to their top line as customers look elsewhere. Just my 5 cents here, happy to hear your thoughts.

Disc: Do not hold.

[BlackPeter]

I wrote about GTK a wee while ago here: http://www.sharetrader.co.nz/showthread.php?9806-ikeGPS-IPO&p=525183&viewfull=1#post525183 and this post reminded me that I should probably put it here too. The big difference between GTK and some might say its a benefit is the fact as a business they're very established and have been around for years. Unfortunately for technology companies being established is not necessarily a good thing due to the rate at which the industry is evolving and the age of their software (or technology stack) can bring with it a lot of Technical Debt: http://en.wikipedia.org/wiki/Technical_debt and the biggest Technical Debt (imho) that GTK currently have is they're using a very old technology stack - which I know for a fact is having some negative effects for their customers and they are developing their own.

As a stock its fair to compare these companies, but I think GTK and its technology stack are quite unique to the other ones listed and from a productivity perspective this does make them less efficient (less competitive) as a result. Also, it hinders their growth potential too, finding staff willing to work with older technology stacks given there is a shortage of IT staff can be very challenging. Finding great staff? Impossible. If they tried to hire as many people as XRO or OHE they would struggle in my opinion - so this isn't a growth stock unlike the WYN, XRO & ERD's above - OHE well time will tell there as I believe they're undergoing a massive retooling / product redevelopment exercise at present.

Ignoring the other facts for a second, I might consider buying GTK as a short term hold - but I think the long term fundamentals involve some bumpy retooling (increased costs) or slow erosion to their top line as customers look elsewhere. Just my 5 cents here, happy to hear your thoughts.

Disc: Do not hold.

I can see your point (working with old technology and technical debt), however wouldn't know which other company producing ERP systems wouldn't have the same problem. Maybe you should talk with people working for SAP or Baan (Infor Global solutions) - their main problem always was to have to work with very old technology and the need to always be compatible to prehistoric software and datasets ...

So - I agree, this is a problem for ERP system developers, but it is not specific for GTK.

If we compare them now again to the likes of WYN, XRO and OHE ... yes, these guys can at this stage afford to use newer technology - but I am sure that as soon as they have an established customer base their technology will have the same problems. All of these companies (if they will be successful) will need to cater for continuity in a rapidly changing technological environment. You could nearly say: this is how you recognise the successful companies! Only Newbies and looser's can afford to always use new technology (which btw - might always be more sexy, but will not always be better).

The other thing I like about GTK is that they grow (their staff) with a sustainable pace. This allows them to still manage their growth, properly train and mentor new staff, to define and agree on coding standards and potentially even to review their software before they deliver and ensure a high quality standard.

If you look at the other hand at the (staff) growth rates of WYN, OHE and XRO - I don't see how you can sustainably grow your staff by 30 to 50% per year without loosing your standards. I expect these companies to run very soon into growing pains. I guess only after they passed this phase will it be possible to assess whether working with new technology is really an advantage for them ...

Just as a PS: I used to start my professional career as a Software and Hardware designer - some 35 years ago. I stayed for most of this time in development (and always close to software) and yes, technology has changed since then. I have seen OO coming, I have seen various programming languages and concepts come and go as well as Agile / Lean development approaches. Still - I think I have seen during my career as often situations where the newest toy / technology was more an impediment to timely and high quality delivery as times where it did help.

So - GTK might have an advantage if they have to work with proven tools and technology - and as far as the staff attraction is concerned - I never heard that SAP (in Germany) has problems to find the software developers they need ...

[BlackPeter]

Wow - more than $600k traded yesterday! Quite a number for GTK - and despite me having purchased some - I don't take any responsibility for this big number, somebody else seems to be interested as well .... :sleep:

[loon]

http://www.smh.com.au/business/motley-fool/motley-fool-three-kiwi-worldbeaters-20150408-1mgjvq.html

[BlackPeter]

Wow - more than $600k traded yesterday! Quite a number for GTK - and despite me having purchased some - I don't take any responsibility for this big number, somebody else seems to be interested as well .... :sleep:

Gotya: https://www.nzx.com/companies/GTK/announcements/262900

First NZ Capital is accumulating ...

[Schwarzwald]

Intelligent Investor also had a relatively positive article comparing with Hansen Tech. Conclusion however is Buy at lower levels. I found comment as to UK water deregulation in a couple of years encouraging as a further growth opportunity for GTK.

[BlackPeter]

And while the PEB thread buzzes with the ump'th repetition of always the same arguments: GTK announced nearly unnoticed quite respectable half year results:

https://www.nzx.com/files/attachments/213887.pdf

Revenue up 4%, NPAT up 55% - and positive outlook for the second half. 4.1cents fully imputed divvie. I like the technology sector:)

[Harvey Specter]

Revenue up 4%, NPAT up 55% - and positive outlook for the second half. 4.1cents fully imputed divvie. I like the technology sector:)Market doesn't - down over 4%

[BlackPeter]

Market doesn't - down over 4%

Sure - but on hardly any depth I see so far less than 3000 shares sold below 240. Average sell price today (after the results) is still 2.45.

BTW - as long as companies pay reliable dividends am I not even angry with the market if it sells me some more shares for less :D

[Joshuatree]

PDF (http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01641685) Large contract with UK water utility and Guidance nearly confirmed.

[BlackPeter]

Perpetual accumulating - now up to 14.5%: https://www.nzx.com/companies/GTK/announcements/268547

Looking at the fundamentals: P/E of 18.8% with a nearly 10% CAGR ... and analyst "consensus" of $2.50 ... might be time to use the current weakness to accumulate some more?

Obviously - nobody knows how long the tide keeps going out (well, I don't ...) - but this is in my view one of the companies which offers (at current price) good value for money. Growth company and still paying a roughly 5% dividend yield.

DYOR -

Discl: holding.

[Snow Leopard]

Only just got a round to reading the full year financials and stuff (https://nzx.com/companies/GTK/announcements/274090) basically hit there IPO KPIs.

Results seem OK, future looks OK, dividend yield is OK, but is OK overpriced?

Best Wishes
Paper Tiger

[BlackPeter]

Only just got a round to reading the full year financials and stuff (https://nzx.com/companies/GTK/announcements/274090) basically hit there IPO KPIs.

Results seem OK, future looks OK, dividend yield is OK, but is OK overpriced?

Best Wishes
Paper Tiger

Fair question ... though it is certainly one of the better performers from last years IPO round. Sound growth (pretty consistent around 10% CAGR) and hey - they don't just promise to make money, but they do make some - missing however some of the hype component of their peer IPO-candidates.

One lonely analyst at 4traders daring a "consensus" forecast of $2.50 ... and if we use the Graham formula, than we would look at a target price of nearly $4.00.

Price will probably go somewhat up and down due to the chunkiness of their business (but don't take my word for it), but overall I feel much better with holding some of them (here is my disclosure), than I would with e.g. PEB, OHE or even WYN.

I do see them as a promising long term investment - and yes, getting in at $2,00 some weeks ago was certainly better than buying in now would be, but I don't see them yet as over prized (s. above).

DYOR (I know, you will - PT - just for the other readers ...).

[BlackPeter]

Fair question ... though it is certainly one of the better performers from last years IPO round. Sound growth (pretty consistent around 10% CAGR) and hey - they don't just promise to make money, but they do make some - missing however some of the hype component of their peer IPO-candidates.

One lonely analyst at 4traders daring a "consensus" forecast of $2.50 ... and if we use the Graham formula, than we would look at a target price of nearly $4.00.

Price will probably go somewhat up and down due to the chunkiness of their business (but don't take my word for it), but overall I feel much better with holding some of them (here is my disclosure), than I would with e.g. PEB, OHE or even WYN.

I do see them as a promising long term investment - and yes, getting in at $2,00 some weeks ago was certainly better than buying in now would be, but I don't see them yet as over prized (s. above).

DYOR (I know, you will - PT - just for the other readers ...).

Looks like one of the directors had as well an opinion whether the share is already too dear. He was still buying at $2.24 (though admittedly only a modest amount - some 8300 shares).

https://www.nzx.com/files/attachments/226149.pdf

[BlackPeter]

Hmm - looks like this is a great thread for talking with myself ...

Anyway - despite the apparent lack of interest ... GTK sweetened the season by adding a golden cross about Christmas day (what a timing). Clear indication that buying this stock around September 2015 would have been an amazing idea!

Discl: I did (buy some more in September) ... and still see further potential in this stock based on a forward PE of 19 and a CAGR of 10. DYOR.

[BlackPeter]

Ian Black - new CEO with a quite distinguished career in SAP Australia / NZ: Might not have given him lots of technical insights (SAP develops in Germany), but I am pretty sure he understands the client needs in our part of the world:

https://www.nzx.com/companies/GTK/announcements/276469

Welcome on board, Ian ... I expect the uptrend to continue!

[RGR367]

Expanding into the future? http://www.sloughexpress.co.uk/News/All-Areas/Slough/New-Zealand-High-Commissioner-to-the-UK-opens-new-Gentrack-offices-22032016.htm

[BlackPeter]

Expanding into the future? http://www.sloughexpress.co.uk/News/All-Areas/Slough/New-Zealand-High-Commissioner-to-the-UK-opens-new-Gentrack-offices-22032016.htm

interesting find ... and makes sense for them to grow their UK office given their strong UK growth (44% last year). Each of their customers gets basically a unique software solution ... and it is always good to have the staff building and fine tuning these solutions close to the customer.

They mentioned in their AGM presentation, that they are looking for new premises in the UK. Interesting though, that they moved already into them - and that we learn about this through a lucky find in a local UK paper, instead of through the company.

[Louloubell]

I prefer under-promising and under-communication and over-delivery to under-delivery and over-communication and over promising.

[BlackPeter]

I prefer under-promising and under-communication and over-delivery to under-delivery and over-communication and over promising.

can't argue with that ... :)

[Louloubell]

This was the full extend of my philosophical wisdom. Sad he? :t_down:

[babymonster]

expecting good result in May? any thoughts guys?

[waikare]

expecting good result in May? any thoughts guys?

Some very good numbers released this morning

Revenue $23.3m - up 26% on prior year H1
• EBITDA $6.7m - up 23%
• NPAT $3.8m - up 21%
• Interim Dividend of 4.2cps declared

[Louloubell]

I think that Gentrack produced a solid result and the market seems to agree. Am I the only Gentrack holder? Last post 2 years ago!

[waikare]

I think that Gentrack produced a solid result and the market seems to agree. Am I the only Gentrack holder? Last post 2 years ago!

Also a holder from their IPO in June 2014, a little confused with you ending statement "Last post 2 years ago", ................

[Louloubell]

Yep, my bad :t_down:

[Louloubell]

Low volume, but the price is going up. Is something up?:confused:

[Bilbo]

Low volume, but the price is going up. Is something up?:confused:

Might be related to PIE Funds buying in and then pumping it in their July newsletter. See http://bit.ly/july16newsletter Their buying would have supported the sp firming up and then I assume a number of followers jumped onboard over the last couple of days pushing the SP higher. Might look at getting onboard myself too, but will wait for the SP to pull back from the current surge.

[Crow]

Might be related to PIE Funds buying in and then pumping it in their July newsletter. See http://bit.ly/july16newsletter Their buying would have supported the sp firming up and then I assume a number of followers jumped onboard over the last couple of days pushing the SP higher. Might look at getting onboard myself too, but will wait for the SP to pull back from the current surge.

Thanks for that link.

[Louloubell]

Thanks Bilbo. The article read a bit like the reader finding another 'precious'!!! :p Could hardly have been more optimistic. athen there is the lack of sellers aspect to consider.

[Crow]

Thanks Bilbo. The article read a bit like the reader finding another 'precious'!!! :p Could hardly have been more optimistic. athen there is the lack of sellers aspect to consider.


Lol classic:t_up:

[Joshuatree]

Here you go holders; this looks int.
http://www.fool.com.au/2016/09/29/g...echnologies-limiteds-next-acquisition-target/ (http://www.fool.com.au/2016/09/29/gentrack-group-ltd-is-it-hansen-technologies-limiteds-next-acquisition-target/)

[Bilbo]

Here you go holders; this looks int.
http://www.fool.com.au/2016/09/29/g...echnologies-limiteds-next-acquisition-target/ (http://www.fool.com.au/2016/09/29/gentrack-group-ltd-is-it-hansen-technologies-limiteds-next-acquisition-target/)

Good article, but a little out of date now. Written Sept 29 and quotes "If Hansen considered its own share price a reasonable measure of comparative value, an 18x EBITDA multiple as a starting price for Gentrack would value the company at around $3.69 per share, a 22% premium above the share price at the time of writing." It is currently trading at 3.50 so not far off the $3.69 a share (assumuing that is NZD not AUD?).

Also worth noting is that Hansen shares have fallen since the article was written, so are now trading at less than the 18x EBITDA quoted.

[Snow Leopard]

Only just got a round to reading the full year financials and stuff (https://nzx.com/companies/GTK/announcements/274090) basically hit there IPO KPIs.

Results seem OK, future looks OK, dividend yield is OK, but is OK overpriced?

Best Wishes
Paper Tiger

Read this years full year financials and stuff (https://nzx.com/companies/GTK/announcements/293212) the very day there come out.

Share price they have done very well in the last year.
Fundamentally apparently very so-so.

So did not buy last year because price represented at best OK value.
So will not buy this year because they are overpriced.

See if we get to kick ourselves again next year.

Best Wishes
Paper Tiger

Disc: my back of an envelope calculation says current value: $2.33.

[noodles]

Gentrack presenting at the NZSA Auckland branch meeting in Feb
http://www.sharetrader.co.nz/showthread.php?10844-NZSA-Auckland-Meetings-and-Events&p=653438&viewfull=1#post653438

[Crow]

https://nzx.com/companies/GTK/announcements/298969

[When the bass drops]

Stock is already up 4% for today:)

[Joshuatree]

9% up atp and heres why:D

GTK / ANNOUNCEMENTSGentrack acquires Junifer Systems8:30am, 29 Mar 2017 | ASSET28 March 2017
Gentrack accelerates growth in the UK with acquisition of Junifer.
Gentrack Group Limited (NZX/ASX: GTK) is pleased to announce that it has entered into an unconditional agreement to acquire the UK based utility customer information and billing system provider Junifer Systems Limited ("Junifer") for an enterprise value of NZ$74.6m (£42.0m)(1).
Junifer is a market leading utility customer information and billing system provider for energy retailers in the UK with 25 existing customers out of approximately 50 energy retailers in that market. Junifer's technology is provided on a SaaS basis and offers new entrant utilities a cost effective and preconfigured solution.
The combined Gentrack and Junifer business will be the market leader by number of utilities in the UK with 32 customers, supported by 130 local staff and a full product range for energy and water utilities.
John Clifford, Gentrack Chairman said, “We are delighted to bring Junifer and Gentrack together in the UK. The combined UK business, under the leadership of Junifer CEO Saul Nurtman, will be well positioned to continue to provide highly innovative and low risk solutions to UK energy and water utilities, and from that strong base to expand into new markets.”
Ian Black, Gentrack CEO said, “The acquisition of Junifer delivers us the full range of product functionality from SaaS billing for new entrant energy and water retailers, to cloud hosted and on premise solutions for the largest utility players. The combined product offering of Gentrack Velocity and Junifer CIS is well positioned for growth, capitalising on the growing market share of Independent energy retailers, the UK smart metering roll-out, and retail competition in water for commercial and industrial consumers. Gentrack will also take Junifer CIS into other geographic markets as a solution for new entrant and SME retailers

[Crow]

Was interesting doing a bit more research last night and seeing various articles as well on the Web. Motley Fool Australia have been going on about Gentrack a lot last month and a bit.

Holding tight for results in a few weeks.

[Schrodinger]

To me this looks like a takeover target. Good growth and a good product/customer base. If they had better customer growth in USA they would have been bought already.

[Crow]

Not sure of i want that to be honest. Getting sick of Kiwi companies being bought out. Would be nice to be in one that around for years to come along with its growth etc.

[Crow]

https://www.telecompaper.com/news/gentrack-buys-blip-systems-and-majority-stake-in-ca-plus--1194511

https://bizedge.co.nz/story/kiwi-airport-software-developer-concludes-danish-acquisition/

[Crow]

Good luck to all holders.....results today😊

[Crow]

https://nzx.com/companies/GTK/announcements/301676

[winner69]

https://nzx.com/companies/GTK/announcements/301676


Good or bad

[Crow]

Good for me but I'm no expert.
Only issue but I'm still reading was timing of new projects but looks like one off and was too bad revenue wise...maybe more insights at 10:30am conference call.
Others may have more to say on results.

[Joshuatree]

No announcements since June and a new high today on steady small vol all through.

[Crow]

No announcements since June and a new high today on steady small vol all through.

Yes, clearly a case of steady as she goes. :)

[Louloubell]

Is something brewing with Gentrack? Large parcel through this morning, few sellers and the price climbing steadily.

[sonny n share]

What's with the drop in share price?

[Crow]

Who knows. It's been getting punished for something. No idea what.

[BlackPeter]

What's with the drop in share price?

Have a look at SAP (the elephant in the room). Their SP dropped for some time (well, June - sell it in May?) and they are now flirting with the MA200 (actually currently below). I guess this could be just the end of the Northern hemisphere summer hole, but it could be as well something bigger. Assume this just makes investors in the industry a bit nervous and GTK is just a tiny fish in a big ocean. Headwinds ahead? Who knows ...

[Louloubell]

Keeps on tracking up and up and up. A winner to balance out my losers!

[moka]

Gotta share the love - Serko is getting all the attention.
Gentrack listed the day after Serko on 25/6/2014.

NZX Top Gains
Serko $1.90 0.15 up 8.6%
Gentrack $6.48 0.38 up 6.2%

https://www.nzx.com/announcements/311136
Gentrack revenue and profit up 43%
Gentrack Group Limited (NZX/ASX: GTK), a market leader in software solutions for utilities and airports, announces its annual financial results for the year to 30 September 2017.
Highlights (NZ$)
• Revenue $75.2m and EBITDA 1 $23.9m: both up 43% on FY16
• NPAT $11.8m: up 23% on FY16
• Final Dividend: 8.5cps, bringing full year dividend to 12.7cps

[RupertBear]

Just another one of my mistakes selling out @ $2.85 :scared: GULP

[Crow]

It just plugs away and so can't complain, happy holder.:t_up:

[moka]

Just another one of my mistakes selling out @ $2.85 :scared: GULP

It is okay to make mistakes. Mistakes are lessons. We learn from our mistakes.
Why did you buy GTK?
Why did you sell GTK?
With hindsight what can you learn from this so you can do better next time.

Change your thinking about mistakes and what a mistake means.
A winner is willing to learn. I am a winner. I am willing to learn.
Life is a life-long journey of learning. Everything in my life is an opportunity for learning.
Mistakes are not proof that I am bad, they are doors for learning and moving on.

Mistakes viewed as lessons build confidence and success while mistakes viewed as failures undermine. Thinking of mistakes and failures as lessons can help me develop an optimistic frame of mind. We never make mistakes here, we only add to our experience.
I do not use the word failure to describe my mistakes I refer to them as learning experiences, detours or opportunities for growth. Making mistakes is a normal part of life and I see mistakes as learning opportunities.
I am not a failure. I need to try harder. I know that failure is a necessary part of the learning process, not the end of the learning process.

I am willing to take risks because I know that the most powerful learning occurs when I risk the possibility of disapproval and discover in most cases it does not happen, and that even if it does happen I can cope. I know that freedom is not worth having if it does not include the freedom to make mistakes.
I am willing to change and grow and so I am willing to face my fears and make mistakes. I learn from failures and move on. I begin to look for the good in every situation, even when I fail, and to recognise that something good always comes out of adversity.

Life is a gentle teacher. She wants to help us learn. The lessons she wants to teach us are the ones we need to learn. Life is a gentle teacher. She will keep repeating the lesson until we learn. It is okay to become frustrated, confused and angry. Sometimes it is okay to despair. Then it is okay to walk away and allow the breakthrough to come. It shall.
Obstacles are gifts for learning. A problem is simply an opportunity in disguise. Problems are messages.
Mainly from Melody Beattie - The Language of Letting Go.

[moka]

Wisdom on mistakes from Mark Douglas – The Disciplined Trader

All experiences are valid and have meaning and as such, mistakes don’t exist, they just point the way.
Mistakes just point the way to something that we haven’t learned yet and obviously need to know.

A mistake isn’t resolved until we evolve in our understanding to the point where we can garner the insight that is available from the experience. When that point is reached, what we experienced is no longer a mistake or painful because of what we have learned.
We have to change our definition of what constitutes a mistake. Mistakes are virtually synonymous with pain. We can find any number of ways to avoid acknowledging a mistake so we don’t have to confront the pain, and in the process we cut ourselves off from what we need to know to grow, expand, and improved our lives.
We can change our definition of what constitutes a mistake just as we can intensify the emotional energy behind an insult. We need to allow ourselves to learn from all our experiences instead of hiding from them, feeling pain, or punishing ourselves in some way.

Change your focus from making money to “what do I need to learn or how will I have to adapt myself to interact more successfully with the market. “ Stay focused on what you need to learn.
Each moment is a perfect reflection of your level of development. If you look at each moment that things don’t turn out as you want or expect as a mistake, then you will usually cut yourself off from the insight about yourself contained within each moment. The reason why we cut ourselves off from this information is because we typically associate mistakes with pain. We will instinctively avoid pain and in doing so also avoid what we need to know about ourselves to interact more effectively in similar circumstances in the future.

[RupertBear]

Thanks for your pearls of wisdom Moka.

Unfortunately I am an impatient and impulsive bear. I jump in when I shouldnt and jump out when I shouldnt. I hold onto dogs and watch them go down reassuring myself they will go back up again. I sell my winners just incase they go down then watch them sail away without me.

So yes I guess my "mistakes" have all been learning experiences. I am now much more aware of the "mistakes" I made when I first started out. Like buying into the Snakk and GeoOp and Wynyard feeding frenzy. Like holding on during a strong down trend. Like catching the falling knife. I have certainly learned a lot and most of it I have learned on here from people prepared to share their experiences and their opinions and offer their encouragement to continue and to not despair over making "mistakes".

Many thanks to you all :)

[moka]

It just plugs away and so can't complain, happy holder.:t_up:

Another new contract for Gentrack today
https://www.nzx.com/announcements/311330
4th December 2017 Gentrack Signs UK Deal With ‘Big Six’ Energy Supplier
Gentrack Group (NZX/ASX: GTK), is pleased to announce the signing of a significant contract with Npower in the UK, to provide its Junifer billing and customer management system as part of an overall transformational programme of work. The signing of this contract provides further evidence of Gentrack’s position as a leading provider of essential meter-to-cash solutions to utilities in the UK energy sector. The go-live is expected in 2018.

[moka]

Gentrack has a good track record of new contracts over the last three years, no wonder the share price has been on an uptrend.

https://www.nzx.com/announcements/305986
23/8/2017 Gentrack signs Hunter Water
Gentrack Group is pleased to announce the signing of a multi-million dollar contract with Hunter Water Corporation, to provide a new billing and customer management system. The project is expected to be completed in 2018 and does not change Gentrack’s previously announced financial outlook for FY17.

https://www.nzx.com/announcements/300182
24/4/2017 Gentrack Accelerates Growth of its Airports Software Business With Acquisitions
Gentrack Group has acquired Blip Systems A/S and agreed to acquire CA Plus Ltd, subject to final closing conditions. These strategic acquisitions expand Gentrack’s airport software product range and customer base worldwide. They are expected to contribute marginally to EPS in FY17, to be accretive from FY18 and contribute to doubling Gentrack’s Airport Division EBITDA by FY19.

https://www.nzx.com/announcements/298969
28 March 2017 Gentrack accelerates growth in the UK with acquisition of Junifer.
Gentrack Group has entered into an unconditional agreement to acquire the UK based utility customer information and billing system provider Junifer Systems Limited ("Junifer") for an enterprise value of NZ$74.6m (£42.0m)(1).
Junifer is a market leading utility customer information and billing system provider for energy retailers in the UK with 25 existing customers out of approximately 50 energy retailers in that market. Junifer's technology is provided on a SaaS basis and offers new entrant utilities a cost effective and preconfigured solution. The combined Gentrack and Junifer business will be the market leader by number of utilities in the UK with 32 customers, supported by 130 local staff and a full product range for energy and water utilities.

https://www.nzx.com/announcements/281091
20/4/2016 Good Energy Signs with Gentrack for New Billing and Customer Management Solution
Gentrack Group a specialist in software for utilities and airports, is pleased to announce the signing of a contract with Good Energy, a leading renewable energy retail utility in the UK, to implement its Gentrack Velocity Billing and CRM software.
“The UK energy sector is rapidly evolving with retailers like Good Energy, a provider of 100% renewable energy, challenging the Big 6 energy providers. This contract to deliver our proven billing and customer management solution supports our continued investment in the UK as a core growth market for Gentrack.”
Gentrack is also pleased to advise the re-signing of the Fiji Electricity Authority (FEA) for an upgrade of its Gentrack Velocity billing and CRM software. This project continues a 17 year partnership with FEA, Fiji’s incumbent supplier of electricity services to over 200,000 households and businesses.

https://www.nzx.com/announcements/268110
7/8/2015 GENTRACK SIGNS CONTRACT WITH AUSTRALIAN UTILITY AND UPDATES GUIDANCE
Gentrack Group is pleased to announce the signing of a substantial contract to upgrade its Velocity software at an Australian utility. This is for the implementation of Gentrack’s latest billing and CRM solution to support electricity, gas and water utility products and services, and is expected to be completed in 2017.

https://www.nzx.com/announcements/267062
16/7/2015 Gentrack Secures Contract with a Large UK Water Company
Gentrack Group is pleased to announce the signing of a substantial contract with a large water utility in the UK to implement its Velocity Billing and CRM software.
Gentrack Group Chairman John Clifford reaffirmed the Board’s FY15 guidance provided in May. “This contract is one of the two deals mentioned in our half year guidance which we had expected to secure earlier in the year. We continue to make progress towards signing the other contract with an energy utility in Australia.
Gentrack’s latest R&D includes a strong focus on delivering new software capabilities to support water retailers in the UK where over 1.2 million businesses will soon have the ability to choose their water retailer. The above implementation project is expected to be completed in early 2017.

https://www.nzx.com/announcements/260343
5/2/2015 Gentrack signs new customers: Go Energy and Queenstown International Airport
The contracts involve the implementation of its Velocity and Airport 20/20 software solutions. The Velocity Billing and CRM software will be deployed in the Cloud for Go Energy, an innovative solar energy utility business based in Sydney Australia, while the Airport 20/20 Flight Information Display software is being deployed at Queenstown International Airport to support the airport’s growth and to help enhance the passenger experience. After this installation, Airport 20/20 solutions will be used by New Zealand’s four major airports including Auckland, Wellington and Christchurch.

[Crow]

Lol, well, well, well one out of two wasn't bad.....Wynyard (Yes... i was a burnt holder) could have learnt from this lot.

[moka]

I am just doing my research and there are lots of positive indicators such as this one in 2015:

https://www.nzx.com/announcements/267659
30/7/2015 CEO Succession
The Board of Gentrack announces that James Docking has signalled his intention to step down as CEO in 2016 in order to enable a new leader to take the company onto the next stage of growth. The Board will commence an international search for a new CEO and James has agreed to remain in the role until an effective handover is made, after which it is envisaged that he will remain involved in the business in a capacity to be agreed.
James said, “Having reassessed the medium term executive needs of the expanding business, and my own personal circumstances, I have made the difficult decision to step back from the CEO role next year and assist with the transition of a new leader to take the business through its next stage of growth.”
Chairman, John Clifford said, “James has been with Gentrack for over 20 years and as CEO since 2005, successfully taking the business into the Australian and UK utility markets and through the IPO in 2014. He will remain as CEO until we have secured a new leader with the skills required for the next phase in the evolution of the company.”

[moka]

Another indicator of good future performance for Gentrack was that in 2015 there were 14 SSH notices over the year with all the institutions increasing their holdings: Perpetual, Devon Funds, UBS, Harbour Asset Management, NZ First Capital and Mawer Investment Management.
Mawer is based in Canada and their slogan is: Be Boring Make Money. Boring: the way investing should be. " Our investment philosophy requires that we buy companies that are wealth-creating, run by good management teams, at prices that are discounts to their intrinsic values." http://www.mawer.com/
(http://www.mawer.com/)
I like it - boring is good. Just like boring old Ryman. Van Tharp (in his book Super Trader) likes boring too, although he calls it “efficient”. “I like to trade stocks that are very efficient (that is trending up or down with very little volatility, with very little noise.)”
Gentrack has not been making much noise on Sharetrader and the price has gone from $3 in mid 2016 to $6.69 now, up 39c 6.2% today. It seems the market liked the announcement.

http://artofboring.com/life-railway-speed/
Interesting article and a good diagram of The Gartner Hype Cycle – a peak of inflated expectations, a trough of disillusionment -where much wealth is destroyed, a slope of enlightenment and plateau of productivity.
Paradoxically, the very mania that results in widespread destruction of wealth, ultimately allows for the creation of significant future wealth.

[Louloubell]

Quietly going from strength to strength, albeit on low volumes

[waikare]

Quietly going from strength to strength, albeit on low volumes

This time last year Gentrack was sitting around $4.40 today it closed at $7.19.

[waikare]

This time last year Gentrack was sitting around $4.40 today it closed at $7.19.

Another 21cents gain today, up 2.9%, only 54.2k share sold...................

[Louloubell]

A considerable increase and wonder what is going on? It is all on low volume, but 2-3% each day for the last week or so

[waikare]

Some good numbers out today


http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/GTK/318676/280168.pdf

[Leftfield]

Some good numbers out today
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/GTK/318676/280168.pdf

Very impressive results - well done holders!

[Louloubell]

A happy boy; 28% of my holdings are in this baby, but lets please be quiet about some other dogs I owe

[Joshuatree]

28% i wish:).S/P Down 6%, mkt expected higher profits?
Or is it the flat outlook for 2nd half ,the same, is that whats dropped the s/p.

[hardt]

28% i wish:).S/P Down 6%, mkt expected higher profits?
Or is it the flat outlook for 2nd half ,the same, is that whats dropped the s/p.

2H18 EBITDA forecasted to be inline with 1H which would have FY18 at 31-35m up around 30-45% from FY17.

Trading at 33-37x forward earnings on par with higher growth companies.

[gbogo]

28% i wish:).S/P Down 6%, mkt expected higher profits?
Or is it the flat outlook for 2nd half ,the same, is that whats dropped the s/p.

Flat outlook, I think. FNZC said, "we don't like guidance below market expectations". Underperform rating, target $6.10 NZ.

I personally like the stock and am bidding for more as I think it's an over-reaction. but clearly there were too many sellers lined up.. selling the fact again..

[Joshuatree]

Craigs still have buy t/p $7.40 noting Gentrack tend to underpromise and over deliver and their long term growth EBITDA reiterated @15% intact.

[RupertBear]

I had a wee nibble today. I was a holder but sold out a while ago and have regretted it ever since.

[gbogo]

Flat outlook, I think. FNZC said, "we don't like guidance below market expectations". Underperform rating, target $6.10 NZ.

I personally like the stock and am bidding for more as I think it's an over-reaction. but clearly there were too many sellers lined up.. selling the fact again..

My bad sorry - they actually raised their target to $6.35 from $6.10.

[BlackPeter]

I had a wee nibble today. I was a holder but sold out a while ago and have regretted it ever since.

They are no doubt a promising company and did well over the recent years. I know as well the feeling of missing out (sitting in the same boat there as you) ... but not sure this would be my preferred time to buy back in ...

I guess they sit as many other growth companies currently on a quite high PE (25 forward, 52 backwards) - priced for perfection. And to be fair, they are good, but not perfect - remember them breaking their IPO promises?

How much higher do you expect the PE to go in a time where PE contractions are more likely to come than further PE growth?

[RupertBear]

They are no doubt a promising company and did well over the recent years. I know as well the feeling of missing out (sitting in the same boat there as you) ... but not sure this would be my preferred time to buy back in ...

I guess they sit as many other growth companies currently on a quite high PE (25 forward, 52 backwards) - priced for perfection. And to be fair, they are good, but not perfect - remember them breaking their IPO promises?

How much higher do you expect the PE to go in a time where PE contractions are more likely to come than further PE growth?

All true BP and my impulsive streak may have got the better of me! :mellow:

[waikare]

Gentrack Group Limited (NZX/ASX: GTK) advises that it intends to raise approximately NZ$90 million of new equity through a fully underwritten accelerated entitlement offer ("Offer"). Under the Offer, Eligible Shareholders are entitled to acquire 1 New Share for every 5.77 Existing Shares held as at 9.00pm (New Zealand time) on the Record Date of Friday, 6 July 2018, at an Application Price of NZ$6.19 per New Share.
The Application Price reflects an 11.6% discount to the last close price on the NZX of NZ$7.00 and a 10.0% discount to the theoretical ex-entitlement price of NZ$6.88 as at 3 July 2018.
A very attractive offer......

[RupertBear]

Gentrack Group Limited (NZX/ASX: GTK) advises that it intends to raise approximately NZ$90 million of new equity through a fully underwritten accelerated entitlement offer ("Offer"). Under the Offer, Eligible Shareholders are entitled to acquire 1 New Share for every 5.77 Existing Shares held as at 9.00pm (New Zealand time) on the Record Date of Friday, 6 July 2018, at an Application Price of NZ$6.19 per New Share.
The Application Price reflects an 11.6% discount to the last close price on the NZX of NZ$7.00 and a 10.0% discount to the theoretical ex-entitlement price of NZ$6.88 as at 3 July 2018.
A very attractive offer......

Indeed, I will be taking up their offer :)

[Joshuatree]

Honey in the rock.Sticky imbiber here.

[waikare]

Honey in the rock.Sticky imbiber here.

Unsure what you a saying Joshuatree, care to expand a little.

[Joshuatree]

Taking mine up @ $6.19 and have got some in the book build @$6.69.

[Joshuatree]

OFFER: GTK: Successful Completion of Institutional Entitlement Offer (https://online.asb.co.nz/ost/3078B6E2317620557A4C664F5FB5A8E9/companyannouncements/showannouncement/nzx/gtk?issuercode=gtk&number=320575&ispdf=false)

So far so good $7 atm but expect some profit taking as folks take up their $6.19 SPP.

[kiwico]

So far so good $7 atm but expect some profit taking as folks take up their $6.19 SPP.

Agree, I've taken up my share at $6.19 but will be looking to reduce to keep to around 6% of my portfolio.

[waikare]

Its a probably a bit late now, as the offer closes tomorrow 26th, the best option is to pay by cheque , paying online through the website which I did, using direct debit has a set up fee of $5.00.

[Blendy]

Its a probably a bit late now, as the offer closes tomorrow 26th, the best option is to pay by cheque , paying online through the website which I did, using direct debit has a set up fee of $5.00.

Thanks for the reminder - I knew it was on my to do list but I hadn't been very good about remembering the date. Doing mine now!

[BlackPeter]

Its a probably a bit late now, as the offer closes tomorrow 26th, the best option is to pay by cheque , paying online through the website which I did, using direct debit has a set up fee of $5.00.

To whom and why did you have to pay this "setup fee"?

[Twinklefingers]

Instead of going through their website you can just scan and email the form to applications@linkmarketservices.co.nz They won't charge any extra fees and it's processed very quickly. That's what I did fairly late in the afternoon last week and the money was taken the same day.

[RupertBear]

Instead of going through their website you can just scan and email the form to applications@linkmarketservices.co.nz They won't charge any extra fees and it's processed very quickly. That's what I did fairly late in the afternoon last week and the money was taken the same day.

Thats what I did as well. Easy peasy :)

[kiwico]

To whom and why did you have to pay this "setup fee"?

This would only be if imposed by your bank. I'm pretty sure ASB pinged me with the last example of this. No charge yet for the Gentrack direct debit but they might still surprise me with it at the end of the month.

[BlackPeter]

This would only be if imposed by your bank. I'm pretty sure ASB pinged me with the last example of this. No charge yet for the Gentrack direct debit but they might still surprise me with it at the end of the month.

Hmm - my bank (ANZ) never charges me for direct debits. if yours does, than it might be time for you to review the account or to change the bank ;);