Tegel IPO

[Leftfield]

My observations from the Tegel AGM.

95% brand awareness in NZ and 35% of shoppers will go for Tegel products before their competitor's. All their birds are not caged, free to roam about in the shed or free range outside in the paddock. No birds are injected with hormones too.

Nice to hear, thanks for posting JayRiggs.

[percy]

Would love to hear your thoughts on ghe meeting Percy!

Who are ghe??

[Hectorplains]

Who are ghe??

Gaseous Helium, it's a metaphor?

[percy]

My observations from the Tegel AGM.

They were about to play a video about Tegel's story in the middle of CEO Phil Hand's presentation, but the tech guys couldn't get the video going - there was no sound. After about a 1 minute silence, someone in the back got impatient, muttered he was deaf and told Phil Hand to move on.
Phil Hand was shaking his head at the tech guys in disappointment and moved on with the meeting.

Questions asked by shareholders.
A question about Ighams IPO and how this is affecting the Tegel share price, it's been heading down. And what are you going to do about Ighams and other competition?
James Odgen: Tegel has been dealing with competition for many years and will continue to do so. We aren't in a position to comment on Ighams IPO, Ighams are just doing their own thing. The NZX has gone down by about 7.9% since early September, so it isn't just Tegel share price going down.

The guy replies, but Tegel shares have fallen by about 20%, more than the NZX!
James Odgen: No, Tegel hasn't gone down by that much.
James then tells the shareholder to see one of the Tegel guys for a broker report to assure him of Tegel's worth.
Then they moved on.

A lady asked about chicken feet.
Before her question, she said she paid $1.68 for her shares and was happy with paying a higher price (presumably because she's happy with the company).

What happened to the Tegel chicken feet?
Phil Hand: We are still selling chicken feet.

Will you be exporting chicken feet to Hong Kong?
Phil Hand: Yes that is on the plan.

The lady then goes on to say, don't add condiments to the chicken feet, because chinese people prefer plainer chicken feet.
And if you want the right chicken feet to sell to chinese, check the chicken feet in Hong Kong yumchar, make sure they aren't too big or too small.
James Odgen: I'll get you to meet with a products exec after morning tea to discuss this.
Drew a few laughs in the room.

A shareholder expressed concern about the Affinity excrow of shares, how Affinity will be allowed to sell when it goes over WVAP $1.86 for 10 consecutive trading days after the half year result. And if this sell off will affect the Tegel share price.
James Odgen clarifies the shares escrow period. Afinity own 48% and are happy with the company. They won't neccessarily sell their shares when it goes over $1.86.

Another shareholder questioned why Kang Tok Yew and Brett Sutton, why do they not personally hold shares in Tegel?
Kang Tok Yew explains because himself and Brett are fund managers in Affinity and there is a rule in place that doesn't allow them to personally hold shares in Tegel to prevent conflict of interest with shareholders. Otherwise, they would own Tegel shares.

After question/answer time, the tech guys got the video going. Phil Hand comments that the AV guys are doing a great job. A hint of sarcasm? Good that the tech guys sorted it in the end anyway, saved a bit of embarassment of their earlier blunder.
It was a nice video. Gave a good overview of the Tegel story with pretty pictures of their products. 95% brand awareness in NZ and 35% of shoppers will go for Tegel products before their competitor's. All their birds are not caged, free to roam about in the shed or free range outside in the paddock. No birds are injected with hormones too.

Thank you for your splendid report.

[Balance]

Thank you for your splendid report.

Thanks indeed too, JayRiggs.

[JeremyALD]

Who are ghe??

*The* meeting lol

[Joshuatree]

Aha! Perpetual have been selling down suppressing the s/p; sub 5% now.This will appear on the NZX first thing tomorrow.

[percy]

*The* meeting lol

Nice to know someone else is a keyboard master .!!!
That rotter "Hectorplains" has had me Googling "Gaseous Helium.it's a metaphor"?
Off course I was to scared to show my ignorance, by telling everyone on ST I had no idea what helium had to do with chicken. !!

[Hectorplains]

Nice to know someone else is a keyboard master .!!!
That rotter "Hectorplains" has had me Googling "Gaseous Helium.it's a metaphor"?
Off course I was to scared to show my ignorance, by telling everyone on ST I had no idea what helium had to do with chicken. !!

Rotter - guilty as charged. It's 'hot air' Percy, all you generally get at an AGM. Guidance was good though. They're tracking fine and still a good chunk of my portfolio.

[huxley]

My observations from the Tegel AGM.

They were about to play a video about Tegel's story in the middle of CEO Phil Hand's presentation, but the tech guys couldn't get the video going - there was no sound. After about a 1 minute silence, someone in the back got impatient, muttered he was deaf and told Phil Hand to move on.
Phil Hand was shaking his head at the tech guys in disappointment and moved on with the meeting.

Questions asked by shareholders.
A question about Ighams IPO and how this is affecting the Tegel share price, it's been heading down. And what are you going to do about Ighams and other competition?
James Odgen: Tegel has been dealing with competition for many years and will continue to do so. We aren't in a position to comment on Ighams IPO, Ighams are just doing their own thing. The NZX has gone down by about 7.9% since early September, so it isn't just Tegel share price going down.

The guy replies, but Tegel shares have fallen by about 20%, more than the NZX!
James Odgen: No, Tegel hasn't gone down by that much.
James then tells the shareholder to see one of the Tegel guys for a broker report to assure him of Tegel's worth.
Then they moved on.

A lady asked about chicken feet.
Before her question, she said she paid $1.68 for her shares and was happy with paying a higher price (presumably because she's happy with the company).

What happened to the Tegel chicken feet?
Phil Hand: We are still selling chicken feet. It is a valuable revenue stream.

Will you be exporting chicken feet to Hong Kong?
Phil Hand: Yes that is on the plan.

The lady then goes on to say, don't add condiments to the chicken feet, because chinese people prefer plainer chicken feet.
And if you want the right chicken feet to sell to chinese, check the chicken feet in Hong Kong yumchar, make sure they aren't too big or too small.
James Odgen: I'll get you to meet with a products exec after morning tea to discuss this.
Drew a few laughs in the room.

A shareholder expressed concern about the Affinity excrow of shares, how Affinity will be allowed to sell when it goes over WVAP $1.86 for 10 consecutive trading days after the half year result. And if this sell off will affect the Tegel share price.
James Odgen clarifies the shares escrow period. Afinity own 45.8% and are happy with the company. They won't neccessarily sell their shares when it goes over $1.86.

Another shareholder questioned why Kang Tok Yew and Brett Sutton, why do they not personally hold shares in Tegel?
Kang Tok Yew explains because himself and Brett are fund managers in Affinity and there is a rule in place that doesn't allow them to personally hold shares in Tegel to prevent conflict of interest with shareholders. Otherwise, they would own Tegel shares.

After question/answer time, the tech guys got the video going. Phil Hand comments that the AV guys are doing a great job. A hint of sarcasm? Good that the tech guys sorted it in the end anyway, saved a bit of embarassment of their earlier blunder.
It was a nice video. Gave a good overview of the Tegel story with pretty pictures of their products. 95% brand awareness in NZ and 35% of shoppers will go for Tegel products before their competitor's. All their birds are not caged, free to roam about in the shed or free range outside in the paddock. No birds are injected with hormones too.

This is brilliant