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30-05-2020, 01:22 PM
#1691
Member
Originally Posted by Beagle
ANYTHING this company says about the future needs to be read with deep scepticism and being fully cognisant of their multiple wildly missed forecasts in the past.
i haven't been following their reported value of assets held since a few years ago, however, two points should be checked by anyone looking at buying:
- The market value for beehives spiked from a couple of hundred dollars up to a thousand dollars over a short period a few years ago when there were loads of people trying to start honey/beekeeping businesses. There are now large numbers of hives available for under $200. What do comvita value their hives at?
- A year or so back the rules around what could be exported as "manuka honey" changed, resulting in a massive devaluation of many held honey inventories. There are literally thousands of tonnes of honey in drums in NZ at the moment, with producers unable to find a wholesale buyer at a price above the cost of production. How is comvita valuing their honey inventory?
Their reported NTA is $2.20, it would be interesting to see whether considering the above two points would bring their NTA nearer $1
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30-05-2020, 06:24 PM
#1692
Thanks, timing is everything and how long in for.
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03-06-2020, 10:34 AM
#1693
Junior Member
Has anyone applied for the retail rights offer today ? The link at Comvitashareoffer.co.nz will not open for me
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04-06-2020, 07:12 AM
#1694
plenty of volume going thru at the moment , must be plenty of people cashing in there quick gains
one step ahead of the herd
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04-06-2020, 08:36 AM
#1695
Originally Posted by Deeks
Has anyone applied for the retail rights offer today ? The link at Comvitashareoffer.co.nz will not open for me
Worked for me. Give Link a call
Telephone: +64 9 375 5998
www.linkmarketservices.co.nz
applications@linkmarketservices.co.nz
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04-06-2020, 01:16 PM
#1696
Junior Member
Last edited by Deeks; 04-06-2020 at 01:30 PM.
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17-06-2020, 02:26 PM
#1697
Junior Member
Can anyone shed any light on this;
A couple of big players (Craigs and someone else) are "backing" the current issuing, which i understand means that any shares not taken up by the current shareholders will be purchased by the backers, so this ensures that all the shares that CVT issued (8 million?) would be "sold", and CVT get their money to invest in the company, pay down debt etc.
Lets say Craigs has to purchase a bunch of shares - would they sell those shares to their customers, put them straight on the market? Is there any motivation for Craigs to *not* dump a bunch on the market?
Also, what do Craigs (or any other backer) get in return for "backing" the offer? They already could purchase shares (they would be entitled to some ratio of currently held shares by the fact that their clients no doubt hold quite a few CVT already), so why take the risk that between the offer announcement and the deadline, something disastrous happens and you have to buy almost all the offer, but the market price is already below the share offer price?
Do they get paid for the "insurance" they provide the company?
Thanks in advance for your thoughts!
M
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19-06-2020, 12:40 PM
#1698
Hi glitch , annoucement below means no worries. New shares can trade today.So far there has been minimal volume, profit taking, looking good but see how it goes.
"Comvita Limited (Comvita) is pleased to announce that it has successfully completed the retail entitlement offer component (Retail Entitlement Offer) of its 1 for 4.15 pro-rata non-renounceable accelerated entitlement offer (Entitlement Offer) as announced on Thursday, 28 May 2020. A total of NZ$50 million was raised under the Entitlement Offer and the institutional placement (Placement).
The Retail Entitlement Offer closed at 5pm (NZST) on Friday, 12 June 2020 and raised gross proceeds of NZ$15.8 million. The Retail Entitlement Offer received very strong support from Comvita’s Eligible Retail Shareholders.
Comvita successfully completes Retail Entitlement Offer
"As a result of the effective take-up rate of approximately 105%, shareholders who applied for allocations via the oversubscription facility will be scaled on a pro-rata basis. This means that shareholders will receive 100% of their own entitlements for which they applied and approximately 87% of their applications for New Shares above their own entitlements.
There will be no Shares allotted to the underwriters and sub-underwriters of the Retail Entitlement Offer."
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19-06-2020, 12:58 PM
#1699
Member
I got an approval of my shares but they're not showing through Link Market Services today. Anyone else have theirs today or still waiting like me?
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19-06-2020, 02:30 PM
#1700
Sorry cant help i bought my $2.50 shares from my broker some weeks ago.Maybe Monday will be the test re profit taking.
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