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05-10-2018, 10:14 PM
#4291
Member
Any updates
Hi,
has Agria already sold their stake in PGW?
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05-10-2018, 10:28 PM
#4292
Originally Posted by Agrarinvestor
Hi,
has Agria already sold their stake in PGW?
https://stocknessmonster.com/news/pgw.nzx/
Nah!
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05-10-2018, 11:48 PM
#4293
Member
Payment
Originally Posted by Snow Leopard
And has the payment be made? Do you received the extra dividend?
"The proceeds of approximately NZ$421 million exceed the book value of PGW Seeds’ net assets (estimatedto be NZ$285 million at 30 June 2018)."
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06-10-2018, 12:12 AM
#4294
The proposed sale of the Seeds business has not happened yet, and if it does the if, how & when of any money being returned to shareholders has not been announced.
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06-10-2018, 02:32 AM
#4295
Member
Originally Posted by Snow Leopard
The proposed sale of the Seeds business has not happened yet, and if it does the if, how & when of any money being returned to shareholders has not been announced.
Many thanks for the answer.
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06-10-2018, 03:21 PM
#4296
Originally Posted by Snow Leopard
The proposed sale of the Seeds business has not happened yet, and if it does the if, how & when of any money being returned to shareholders has not been announced.
PGW share price on 03/08/2018 before seed business sale deal announced: 64c.
PGW share price on 06/08/2018 immediately after seed business sale deal announced: 69c.
PGW share price on Friday 05/10/2018 after the market has had some time to think about the implications of the seed business sale: 61c.
So as the NZX50 reaches new highs, the value of PGW shares fall. Is this an indication that the market sees this deal as 'value destroying'? Perhaps I need to vote AGAINST this deal?
SNOOPY
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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06-10-2018, 03:52 PM
#4297
I will be voting in favour of the sale.
The sale will result in PGW being a company with a very strong balance sheet,a focussed business,and still enjoying a margin on agency seed sales.
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06-10-2018, 04:10 PM
#4298
Originally Posted by percy
I will be voting in favour of the sale.
The sale will result in PGW being a company with a very strong balance sheet,a focussed business,and still enjoying a margin on agency seed sales.
A very strong balance sheet as a result of asset sales in the past has lead to PGW to make some very large gambles (like setting up farms in Uruguay 'the New Zealand way', because we knew better than the locals) and removing the competitive advantage of having an in house finance business (done twice, first selling to Rabobank, then the reinvented finance division sold Heartland years later). PGW are now scrambling to correct the latter with their new 'GoLamb' and 'GoBeef' financing, effectively telling Heartland to 'GoHome' with their financing offers.
The seed business is a jewel which has had several bad years in Australia, largely weather related, that have caused some to see 'seeds' as a dog. I don't see 'seeds' that way. And the results of all previous 'sales of the family silver' have been negative for PGW. "Will it be any better this time?" is the question.
SNOOPY
Last edited by Snoopy; 06-10-2018 at 04:16 PM.
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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06-10-2018, 04:55 PM
#4299
Yes,either go forward or make new mistakes.
As always "we live in interesting times."
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11-10-2018, 05:47 PM
#4300
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