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Thread: speirs group

  1. #1
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    Default speirs group

    It would appear to me that it will be a for gone conclusion that Speirs lists on the Unlisted market.
    The Speirs board have come out in favour of delisting from the NZAX so Unlisted here we come.
    I am still trying to think of any benefits for the ordinary shareholder with this move,however I pray that they are substantial.(a lot of prayers needed me thinks).
    .
    I recall many years ago reading an article in the Herald by Brian Gaynor,when Cynotec delisted.If I recall correctly Gaynor labelled it as a disaster for ordinary shareholders.

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    Quote Originally Posted by beetills View Post
    It would appear to me that it will be a for gone conclusion that Speirs lists on the Unlisted market.
    The Speirs board have come out in favour of delisting from the NZAX so Unlisted here we come.
    I am still trying to think of any benefits for the ordinary shareholder with this move,however I pray that they are substantial.(a lot of prayers needed me thinks).
    .
    I recall many years ago reading an article in the Herald by Brian Gaynor,when Cynotec delisted.If I recall correctly Gaynor labelled it as a disaster for ordinary shareholders.
    One benefit might not be having to pay large listing fees and possibly less compliance fees.
    Obviously pros and cons with both , but some may see this as a benefit ......

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    Should shareholders expect aa annual report this year as all their earnings for 30/06/16 occurred when listed on the NZAX.?

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    Annual report out today.Normal blah blah about building shareholder value blah blah.

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    Will there ever be a time when weather or market conditions don't affect SGLs profit?
    Every report is a copy of the previous one.

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    Delay in releasing results as a company that they own 3% of sweet FA is having problems getting their act together due to restructuring.
    How about just a little hint of how your other companies performed.

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    Another disappointing result along with the usual excuses.Methinks it's time they put themselves on the market and let somebody else have a go.

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    Speirs have sold their 40% shareholding in Rosa Foods.
    Now i hope somebody wants to buy them.

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    33% of Speirs operating business has been sold to its General Manager.According to the news release its a win win situation for both parties.
    Lets hope it s a win win for the long suffering shareholders.

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    Another YAWN.

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    Anybody hearing any rumours regarding this co.
    Over the last few weeks i have heard that they intend to expand.
    No mention of it in their latest report out today but i see where 500000 shares were sold in 1 transaction in November.

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    Quote Originally Posted by beetills View Post
    Anybody hearing any rumours regarding this co.
    Over the last few weeks i have heard that they intend to expand.
    No mention of it in their latest report out today but i see where 500000 shares were sold in 1 transaction in November.
    Bought some of these at 7 about a year ago. Had a look at their balance sheet and though at those prices there was little downside. Was intending to go to AGM in 2019 but had another commitment. Might have another go this year. Other than that don't really know much about these.

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    Have recieved an offer from a chch business man for my few shares.He is offering 7c a share as opposed to the last trading price of 4c.
    Not quite sure how to read this.
    Any advice?

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    I don’t know too much about Speirs Group or their prospects, however I note the comment from the 2019 AGM presentation that the asset backing was approximately 32 cents per share and that the trading price on Unlisted is a large discount to this. There are $2.5m of redeemable preference shares due for repayment in September 2021 so this will be a key test on whether they can be repaid or refinanced in 12 months time. If not, the value of the ordinary shares could erode. Speirs has started accumulating some cash to fund the repayment, with the funds held at December 2019 of $450,000. So still some way to go to get to $2.5m.

    If you look at the trade data on Unlisted, there was only 5,222 shares traded at 4 cents (for a total value of $208) whereas the other 7 trades totalling 553,000 odd shares in the last 12 months have all been at 7 cents.

    I would be be very cautious of someone trying to convince you that you should accept 7 cents on the basis the market value is 4 cents (especially given the NTA is stated to be approximately 32 cps). To me he appears to be opportunistic and trying to use an immaterial value market trade to paint a picture on value that is of little relevance. If he is seeking to buy off market, you can assume he sees good value at the price he is offering given the effort he is going to to shake the shares free from your grasp.

    Are you going to name and shame the chch business man?
    Last edited by Southern Lad; 19-09-2020 at 01:51 PM.

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    Somebody showing a bit of interest.
    Last sale 4.4c
    Current offer of 7.5c
    Package of 35k sold for 12c

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    Quote Originally Posted by beetills View Post
    Somebody showing a bit of interest.
    Last sale 4.4c
    Current offer of 7.5c
    Package of 35k sold for 12c
    Are you going to attend the AGM in November in Palmerston North? I intend to go.

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    Long drive for me and expecting a grandchild the day before so staying put.

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    Quote Originally Posted by beetills View Post
    Long drive for me and expecting a grandchild the day before so staying put.
    Ok fair enough. I am happy to provide some updates on this forum if you would like. I bought in (small parcel) about a year ago, so its more a learning experience for me and a fascination with small companies. Will be good to press the flesh and get an insight into their business model.

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    That would be great,thanks.

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    Quote Originally Posted by beetills View Post
    Somebody showing a bit of interest.
    Last sale 4.4c
    Current offer of 7.5c
    Package of 35k sold for 12c

    Interesting movements on Share Register between 2019 & 2020 Holdings reported in Accounts

    The 2019 Active Equities Holdings Ltd holding of approx 500k shares has been sold down
    (possibly the parcel in posting #11 mentioned by beetills)

    Companies Office records Paul Collins as one of two AEHL directors for some time

    Who knows - they may have given up hope waiting & off pursuing other opportunities ?

    In 2020 Company Annual Return, the Cushings appear with a small 10k holding

    Speirs in recent years has never really excited

    Is it still the majority family controlled Produce company busy hiving off meaningful interests in
    it's businesses from time to time, & basically not going anywhere fast ?

    Perhaps everyone is waiting hoping for Spiers Family to do a buy up & privatise the outfit completely
    to get rid of the onerous reporting requirements & get things out of the public spotlight.. ?
    Last edited by nztx; 31-10-2020 at 11:38 PM. Reason: add more
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

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