TUR - Turners & Growers

[k1w1]

Okay, so stock relists steadily, Gibbs has no plans for a short term share issue, hinting capital notes issue to retire debt, stock seen as pricey on fundamentals but with potential by brokers.

What happens next ?

According to the Dom's Karen Chan:

"But managing director Michael Dosser said an initial public offering of shares was still "on the cards".

"We will be looking at some sort of an IPO or something during the course of next year, for the purposes of reducing debt and financing a couple of specific projects that we've got in mind," he said, though he would not offer details on expansion plans.

Chairman Tony Gibbs, who is also executive director of Turners & Growers' major shareholder, Guinness Peat Group, said the company could raise up to $100 million if it tapped the market. GPG had no plans to sell down any of its 78 per cent stake at the moment, but would not rule it out."

[k1w1]

10% gain in SP in the week since publicly listing.

Round one to Tony Gibbs

[Felonius]

Currently trading about $3.40, which is 10% up on the $3.10 at which they listed recently.
The stock seems expensive on fundamentals.

I am a shareholder and cannot decide whether to hang in or move on .. Any ideas ?

[Snow Leopard]

quote:
TUR
15/03/2005
HALTRECQ

REL: 1827 HRS Turners & Growers Limited

HALTRECQ: TUR: Trading Halt of Ordinary Shares

NZX Regulation Announcement
Turners & Growers Limited ("TUR")
Trading Halt of Ordinary Shares

At the request of Turners & Growers Limited (TUR), NZX Regulation has granted
a trading halt in TUR ordinary shares to facilitate the sell down by Guinness
Peat Group Plc (GPG) of part of its shareholding in TUR. GPG intends to sell
up to 20,250,000 shares by way of an accelerated book build offering. Should
all these shares be placed, GPG will hold approximately 50.1% of all TUR
shares.

The trading halt will remain in place until 10am Friday 18 March 2005 unless
advised earlier by TUR.

ENDS
End CA:00112840 For:TUR Type:HALTRECQ Time:2005-03-15:18:27:13

[Greyhound]

GPG not the only ones"baling out".In the last couple of weeks a few orchardists have withdrawn their crops from them as well.

[truedragon]

I though GPG selling their stack down because they have to by regulation.

Any of you buying into this?

DISC: not a holder but looks interesting.

[truedragon]

Price dropping to below GPG sale price?

[Gryffyn]

A certain amount of liquidity is required.

[truedragon]

2.30 from the hight 2 level.... could this be testing 2? I saw some "Gala" and "NZ beauty" pretty sure they are both TUR in Taiwan supermarket yesterday, bought some and taste fine. I think if sub 2, this TUR worth a serious look, given people like N.Z product for it's green image, eventual come down of NZD good for export and the GPG factor.... oh and the 12 cent divy in May.

I am definitely keeping an eye out, although fruit biz is hardly sexy.

DISC: Hold none.

[Gryffyn]

Why not just buy GPG?

Disc: GPG