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03-03-2019, 10:22 PM
#4441
Originally Posted by Beagle
You are talking about someone getting a margin call on a $7m value shareholding and selling $69,000 worth...that someone who is collecting more than $500k per annum in dividends. Have another think about those numbers mate and ask yourself if anything you have suggested sound realistically plausible...
I didn't say $69,000 was the whole margin call. Maybe the margin call was $569,000? I admit I could be way off track here. But why would Byrnes sell $69,000 worth of shares if he didn't have to? I mean building a deck in Auckland with the current shortage of builders? Byrnes would have had to book a couple of years ahead to get builders to come. Plenty of time to save with that time lag.
Maybe after being 'rattled' at the AGM, and seeing the latest Mainzeal /Shipley fallout in the news, Byrnes decided he needed some of his own director liability insurance cover in a hurry?
SNOOPY
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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04-03-2019, 08:00 AM
#4442
Originally Posted by Beagle
You are talking about someone getting a margin call on a $7m value shareholding and selling $69,000 worth...that someone who is collecting more than $500k per annum in dividends. Have another think about those numbers mate and ask yourself if anything you have suggested sound realistically plausible...
Yes...given all that the sale really doesn’t make sense. Maybe he is just trying to wind us all up ?
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04-03-2019, 08:15 AM
#4443
Originally Posted by RTM
Yes...given all that the sale really doesn’t make sense. Maybe he is just trying to wind us all up ?
Think you are right.
I have been trying to decide whether it is funny ha ha or funny peculiar?............................lol.
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04-03-2019, 08:22 AM
#4444
The possibilities are endless I guess ranging from gambling debts or hookers or a P habit to buying his aging mum a Summerset retirement unit.
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04-03-2019, 08:33 AM
#4445
Probably nothing to see here re Byrnes share sale or as Percy says ‘funny peculiar’
If both yahoo and the native is correct it must have been an off market sale ....volume that day was a lot less than 30,000 and the high of the day was less than the $2.33 he got.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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04-03-2019, 08:36 AM
#4446
i see vehicle imports this yr were pretty similar too last jan/feb last yr but be very interesting next few mths as last yr they were very high in mar, apr , may. be telling if we get a marked decline next few mths
one step ahead of the herd
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04-03-2019, 08:37 AM
#4447
Maybe... Just maybe ..
He wants to spend a little of his money.
Might have decided that he wants more than bread and water..
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04-03-2019, 08:41 AM
#4448
The end game for cars ....things come to NZ quite quickly these days so are Turners threatened?
http://www.businessinsider.com/carpo...-europe-2019-3
Not Marilyn’s ‘Disintermediation‘ but a form of industry disruption
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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04-03-2019, 09:07 AM
#4449
Originally Posted by Snoopy
I didn't say $69,000 was the whole margin call. Maybe the margin call was $569,000? I admit I could be way off track here. But why would Byrnes sell $69,000 worth of shares if he didn't have to? I mean building a deck in Auckland with the current shortage of builders? Byrnes would have had to book a couple of years ahead to get builders to come. Plenty of time to save with that time lag.
Maybe after being 'rattled' at the AGM, and seeing the latest Mainzeal /Shipley fallout in the news, Byrnes decided he needed some of his own director liability insurance cover in a hurry?
SNOOPY
Doubt very much myself that any bank will lend against a non-NZX50 listed company like TRA on a margin call basis.
A finance company may but there are few of those left!
As to why he would sell 30,000 shares - it's not the number which matters so much as the obvious implication of a director selling into a falling share price and into a share buyback!
He cannot be that naive that he cannot understand the implication and market perception of a director holding 3.4m shares selling shares into a share buyback and 'undervalued' situation (as stated by directors)!!!!!
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04-03-2019, 09:23 AM
#4450
72k shares out of 160k odd traded on Friday were bought back, more buying interest from others developing as there is more depth on the buy side.
Last edited by couta1; 04-03-2019 at 09:25 AM.
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