TLL - TIL Logisitics Group [was BIL - Bethunes Investments]

[beetills]

Not a non believer,but why does a successful company like TIL want to list at this time.

[Jerry]

BIL has moved up again on Friday's move to get involved with 'The country's largest private transport and logistics business, Transport Investments, going public with a backdoor listing on the NZX'. What's the haps now?

http://www.radionz.co.nz/audio/player?audio_id=2018619470

[youngatheart]

BIL has moved up again on Friday's move to get involved with 'The country's largest private transport and logistics business, Transport Investments, going public with a backdoor listing on the NZX'. What's the haps now?

http://www.radionz.co.nz/audio/player?audio_id=2018619470

I listened to the interview and TIL guy seems remarkably upbeat. Current Mcap for BIL is only $2 mil. Yet the deal when done will be $200 mil. Does that mean that BILs share price is massively undervalued? Thoughts please...

[garfy]

Is the probable future listing of TLL, through a BIL listing, a good way to access an investment in, what looks to me, a very successful combination of commercial transport companies? Bethunes seems to be 'drifting', and TIL is looking to list - a good marriage? ...heaven? Interested in comments too.

[garfy]

I m interested in this reverse-takeover?/backdoor listing? TIL Transport Investments Ltd is a big and successful company, $300+ turnover, a company made up of 8 groups - Hooker Pacific, TNL, Pacific Fuel Haulage, TIL freight, Roadstar, McAuleys Transport, MOVE logistics, and NZL. It transports - 65% of NZ's crude oil; 60% NZ's petrol; 47% NZ's LPG; 55% NZ's mussels, 20% NZ's Bitumen; 50% NZ's wine crop. Has storage and warehousing. If the proposed 'merger' goes ahead, BIL will ultimately become TLL, and a new directorate will be appointed, consisting of essentially TIL appointees.

How best to invest in this proposed company? Buy BIL shares now, accepting that there will be a large scaling back in these shares - 1:245..... Or just wait until the new TLL is listed on the NZX? My lack of business acumen is exposed.....

[hardt]

I m interested in this reverse-takeover?/backdoor listing? TIL Transport Investments Ltd is a big and successful company, $300+ turnover, a company made up of 8 groups - Hooker Pacific, TNL, Pacific Fuel Haulage, TIL freight, Roadstar, McAuleys Transport, MOVE logistics, and NZL. It transports - 65% of NZ's crude oil; 60% NZ's petrol; 47% NZ's LPG; 55% NZ's mussels, 20% NZ's Bitumen; 50% NZ's wine crop. Has storage and warehousing. If the proposed 'merger' goes ahead, BIL will ultimately become TLL, and a new directorate will be appointed, consisting of essentially TIL appointees.

How best to invest in this proposed company? Buy BIL shares now, accepting that there will be a large scaling back in these shares - 1:245..... Or just wait until the new TLL is listed on the NZX? My lack of business acumen is exposed.....

115,060,279 Shares in BIL outstanding
$0.019 a share
254.19 to 1 consolidation translates to $4.83 per share
452,654 shares after consolidation for current BIL shareholders
73,000,000 shares will then be issued at around $1.50
Rest will be made up through banking facilities and wholesale investors.

Current BIL holders will end up owning 0.614% of Transport Investments which is valued at $200m.
=$2.186m current BIL price
=$200m*0.00614
=$1.228m equity in TIL
=43.82% "premium"

I will most certainly not be a buyer of BIL... possibly Transport Investments though.

[whatsup]

I m interested in this reverse-takeover?/backdoor listing? TIL Transport Investments Ltd is a big and successful company, $300+ turnover, a company made up of 8 groups - Hooker Pacific, TNL, Pacific Fuel Haulage, TIL freight, Roadstar, McAuleys Transport, MOVE logistics, and NZL. It transports - 65% of NZ's crude oil; 60% NZ's petrol; 47% NZ's LPG; 55% NZ's mussels, 20% NZ's Bitumen; 50% NZ's wine crop. Has storage and warehousing. If the proposed 'merger' goes ahead, BIL will ultimately become TLL, and a new directorate will be appointed, consisting of essentially TIL appointees.

How best to invest in this proposed company? Buy BIL shares now, accepting that there will be a large scaling back in these shares - 1:245..... Or just wait until the new TLL is listed on the NZX? My lack of business acumen is exposed.....

garf, BIL in not a one trick pony , if you research the info that was released re the last back door listing and understand what as proposed then you will see , there was/is still is 3 proposals to this back door listing as well.

[garfy]

Thank you both, hardt & whatsup, for taking the trouble to wise me up to a few 'alternative facts' (not in a Trump sense as used here!). I was more impressed at the TIL side and not looking hard enough at 'the vehicle, BIL. But the proposed TLL company still impresses me. Patience is required, and in fact there is some time before the arrangement(s) are finalised. Thanks agin.

[Snow Leopard]

Following the money what I actually see here is the existing owners of TLL leveraging up the company debt to take out $90m of cash and retain about 90% ownership of the listed company.

Anybody got access to the TLL annual financial results for the last few years to make a reasonable guess of value?

Best Wishes
Paper Tiger

[blackcap]

Following the money what I actually see here is the existing owners of TLL leveraging up the company debt to take out $90m of cash and retain about 90% ownership of the listed company.

Anybody got access to the TLL annual financial results for the last few years to make a reasonable guess of value?

Best Wishes
Paper Tiger

Hi PT, that does seem interesting. Is this the rationale for the backdoor listing do you think? I see they are borrowing $100m and then using 90 odd mill to pay out TIL shareholders.
Where do you get the bit that TIL shareholders retain 90% of the shareholding? I cannot find that there myself.
Cheers,