PGW - PGG Wrightson

**Xerof** · 24-12-2010, 10:05 AM

For a company thats been in virtual terminal decline, and very poorly managed, this is a 'get out of jail free' opportunity for a lot of frazzled and dazed long termers.

I suspect they'll be swamped........especially with the PGC fella's, bottling on their investment, leading the charge for the exit

**Balance** · 24-12-2010, 10:08 AM

Originally Posted by Xerof

For a company thats been in virtual terminal decline, and very poorly managed, this is a 'get out of jail free' opportunity for a lot of frazzled and dazed long termers.

I suspect they'll be swamped........especially with the PGC fella's, bottling on their investment, leading the charge for the exit

Virtual terminal decline?

Last time I heard that, it was RBD!

**JayRiggs** · 24-12-2010, 10:14 AM

Wow that was quick. I was expecting PGW to take at least a year to recover due to the tough economic and farming conditions.

**iceman** · 24-12-2010, 10:15 AM

I agree Balance, it is sad to see this company be lost into overseas ownership, being in such a fundamental (for NZ) industry. A difficult choice whether to sell or not as I just re-entered the share registry last week at 44 cents after 18 months absence from it. Does one take a quick profit or stay in for the long haul with a fairly unknown majority shareholder ?! Something to ponder over the holidays !

**iceman** · 24-12-2010, 10:46 AM

Originally Posted by belgarion

LOL ... With the big boys on holiday the action has been slow indeed with plenty of time for small players to pick up a few at open. And now just 54 cents with trading being light indeed. If it wasn't Christmas Eve I'd conclude that Mr Market just doesn't believe the offer.

Yes absolutely irresistable

**Balance** · 24-12-2010, 10:55 AM

Originally Posted by iceman

Yes absolutely irresistable

Mr Market probably wondered why he sold out at 44c last week after the lesson of NZS.

**Balance** · 24-12-2010, 11:12 AM

Originally Posted by belgarion

Someone(s) creating a big overhang with 1.2 mill @ 55 cents ... I guess they don't believe the TO offer story.

On a side note ... Mr Gould's roll in all this seems a bit confused. Too many foots in too many camps? Surely there's some conflict of interest?

Look at George's track record - it's all about grooming something for sale.

**Beagle** · 24-12-2010, 11:19 AM

Originally Posted by iceman

Yes absolutely irresistable

Agreed. I also agree with the Chineese assessment in their statement that this company needs restructuring.

From what I hear there are far to many middle managers creaming off bloated salary packages.
The Chineese generally know how to keep an eye on the bottom line, something us accountants are rather fond of too.

54 cents looks like a good point to get on for the ride to me. I'm in.

**root** · 24-12-2010, 11:31 AM

Originally Posted by belgarion

Someone(s) creating a big overhang with 1.2 mill @ 55 cents ... I guess they don't believe the TO offer story.

On a side note ... Mr Gould's roll in all this seems a bit confused. Too many foots in too many camps? Surely there's some conflict of interest?

2 big sellers of about 400k in that 1.2 mil, will definitely be the hump to get over. Bit of an arm wrestle developing.