covid no covid...no problem. ERD is a resilient business.
http://nzx-prod-s7fsd7f98s.s3-websit...205/321425.pdf
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covid no covid...no problem. ERD is a resilient business.
http://nzx-prod-s7fsd7f98s.s3-websit...205/321425.pdf
up 9% today and 16% last 3 days on no news that i can see...
apparently Craigs put $4.50-ish target price on it.
I did think the AGM was more a steady the ship and tread water, with trucks parked up and not being able to press the flesh to get sales, so sold a small parcel thinking nothing to see here for 6 months... ooops, got that wrong. Still got a significant holding though, so happy, would have been happier if I hadn’t have sold. ;)
So they are going to list on the ASX, hmmm, I got the distinct impression at the AGM that this plan was possible but not being considered in the short term.
I have access to a very detailed and comprehensive broker report on EROAD. Quite positive on the future outlook. Please DM if you would like a copy to read.
discl. holding
trading halt...
'Street Talk reporting EROAD is preparing to put a NZ$25m proposed share placement to Australian funds, which would coincide with the ASX listing and a potential selldown from existing Kiwi investors to try to boost liquidity. The company is also understood to be raising another NZ$5m via a share purchase plan to support its "growth aspirations". '
https://www.afr.com/street-talk/beep...0200914-p55vbo
https://www.trucker.com/drivers/pres...s-for-truckers
always looking at ways to add value...
Trading on the ASX commences 12th October. Details of SPP...
The placement is being conducted at an offer price of NZ$3.90 per share (AU$3.59 per share),representing a 10.3% discount to the last close price on the NZX on 14 September 2020 of NZ$4.35;and 9.0% discount to the ten-day volume weighted average price on the NZX of NZ$4.29.