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What really saddens me is how many people continue to entertain this dog poo entity.
Its gone burger ...I lost a lot through the 80s !
RJI cost me 30k.
I can understand why people avoid the SM...
Last edited by troyvdh; 12-02-2024 at 04:06 PM.
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Originally Posted by nztx
When preparing for listing - keeping the cupboard clean & the china sparkling & tidy is prerequisite
With some outfits - it doesn't take too much digging to unearth reports of recent & past reports
How far is news of an earlier financial calamities, unpaid tradies screaming, investors getting screwed into a
corner .. while the bigwigs ponce around in a gleaming Rolls on pie in the sky aspirations as if nothing has
happened looking for dough to lever out of a spot .. heading into troubled times going to take things ?
Money in da bank at north of 6% looks a pretty inviting option .. in current times looking ahead
You've seen the Reddit comments too?..........
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Actually....Who is ultimately responsible here...Why on earth do the regulatory authorities allow this to occur.....again.
I reckon Brian Gaynor ..bless him...would be greatly saddened that the SM again is well being ...sullied.
Last edited by troyvdh; 12-02-2024 at 07:36 PM.
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Originally Posted by Grimy
You've seen the Reddit comments too?..........
Comments on there too ? Must have a looksie..
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nztx....With respect you are a legend....How old are you...good luck with the "looksie" cheers troy.
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How is NZX Listing going down with the bundle of investors under ? -
https://www.nzherald.co.nz/business/...INAYFOBUILEHE/
The offer is structured to try to force investors, who have had interest payments frozen since October 2022, to swap their outstanding loans to the company to shares, effectively moving debt into equity.
The Auckland property developer and non-deposit taker is offering 200 million $2 shares to convert lenders’ debt from investors in its mortgage and build-to-rent (BTR) funds to equity in a restructured Du Val Property Group.
The 83 investors in the mortgage fund had each put in at least $250,000, with several having invested much of their savings into the funds as a supposed safe haven, yielding a quarterly cash distribution at an annual interest rate of 10 per cent.
These poor suckers have been frozen out of their 10% Interest Income since Oct 2022, if the Article is correct
Trying to force them to convert into Shares instead ?
Sounds pretty bl**dy rough for those who might be reliant on Interest for Income, while the Top Brass float around in a luxury vehicle unaffected as if nothing has happened, painting up grandiose Pie in Sky portrayals of the future .. to try to drag in further Capital
Why not organise the Float so they are FULLY paid out instead out of the proceeds ? or too difficult ?
Fancy trying to talk potential NZX Float, but leaving this sort of nonsense on the table and thinking this bundle of investors might still like the ride and risk after being skrewed on how much Interest - which is then further locked in in additional % percentage ?
Must be pretty desperate to want to Float things and to have to want to try force those Investors onboard as well ? What could possibly go wrong ?
Why not just pay them out ? .. Offshore lenders not keen on the idea or not enough readies in Kitty to do that and pay out their frozen interest due .. and deal with the alleged unpaid tradies as well ?
Or maybe it fair bu%%ers up the grandiose 'Build a Development Empire Plan' too badly ?
Of course if the 'investors in "its mortgage and build-to-rent (BTR) funds" have had to suffer a freeze of their interest payments since Oct 2022 - then WTF is going on ?
Where's the dough going ? Are the satellite Funds solvent ? Is there a Shortfall to these Investors ?
The property markets have had their best runs through to 2022 & likely further leaps ahead & this outfit should have reaped the fruits as well .. What all of a sudden happened to trigger the interest freeze to investors from Oct 2022 ?
Somewhere within the Empire - a fair stash of filthy lucre must have been made & it still must be looking at making a fair filthy pile more -- otherwise there wouldn't be grandiose future plans being thrown around, word of all the untold new developments, an NZX listing etc .. let's face it if it were the reverse scenario instead, then it would likely be curtains period and no-one would be flying around doing fancy photo shots, glitzy wheels .. Look at us shots - etc - a fair & reasonable stance isn't it
How much is owed to the Investors satellite funds by the Company / Group ?
If there is bad news instore for the investors in the satellite funds, then why haven't Administrators / Receivers been put in place to protect the interests of those Investors ?
Last edited by nztx; 12-02-2024 at 09:04 PM.
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Maybe the name should be Devour?
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