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  1. #3901
    percy
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    Quote Originally Posted by Baa_Baa View Post
    What's the volume on ASX then? Is it significant?
    No.
    Most probably never will be.
    Never expected to be.

  2. #3902
    Membaa
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    Quote Originally Posted by percy View Post
    No.
    Most probably never will be.
    Never expected to be.
    Why list there then?

  3. #3903
    percy
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    1/Some Australian Intos are only allowed to invest in shares that are listed on the ASX.With TRA and HGH those intos buy on NZX because of liquidity.No ASX listing no buying on NZX.
    2/Turners EC Credit deals with Australian Banks and intos.To expand in Aussie they need to have an ASX listed parent.
    3/Both TRA and HGH do securitization with Aussie intos.Tidies that up,,and leads to the possibity of expanding it further in Aussie.
    4/I expect HGH will soon do a reasonanly sized bond issue,in Aussie,which again will be easier to get away with them being listed on ASX.
    5/Turners may want to do a bond issue in Aussie at some stage.
    6/HGH is expanding their REL business very quickly in Aussie,and it may give clients peace of mind they are dealing with a company whose parent is an ASX listed .
    7/Both TRA and HGH have large lines of credit with Australian Banks,so being listed there is helpful.
    There fore you can see why both companies are not concerned if their shares never trade in Aussie.


    ps.Ever noticed in Aussie you see Mainfreight trucks with an Australian flag on their side.Mainfreight Australia.
    I guess a lot of Aussies don't realise Mainfreight is a NZ company.
    Last edited by percy; 13-12-2018 at 08:35 PM.

  4. #3904
    Following the momo
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    Quote Originally Posted by Baa_Baa View Post
    Why list there then?
    Percy has detailed a good list of reasons, most of which relate to Heartland though.

    I can't understand it either (from a small reefie point of view), over $200k to list there with no trading....why bother?

    I haven't seen any Aussie instos come in and take a chunk of equity (although I'm told that they buy through their NZ subsidiaries anyway). Seems to be more of a fade that NZX listed companies are going through at the moment rather than reasons that benefit the shareholders (why enter another market, only for there to not be a market).

    Percy: If EC Credit secure a Aussie bank or insto deal in the next 12 months, I will shout you a drink the next time we meet

  5. #3905
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    Quote Originally Posted by Beagle View Post
    No you've got to get with the program mate. Over the last year this has been a strong outperformer in this sector against Australasia's biggest vehicle retailer listed in Australia AHG. This is down from a similar level to Turners a year ago of about $3.80 to be just $1.48 at the close today so Turners has shown a very strong sector outperformance !
    I think many of the institutions would have more or less shut up shop for the year now so just the minnows left for Turners to mop up in the buy-back until mid-late January.
    (Best we don't compare it to CMO though)
    Really cunning...Aye ?

    Disc. Out at the $3.00's at a lose..

  6. #3906
    Speedy Az winner69's Avatar
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    Quote Originally Posted by McGinty View Post
    Percy has detailed a good list of reasons, most of which relate to Heartland though.

    I can't understand it either (from a small reefie point of view), over $200k to list there with no trading....why bother?

    I haven't seen any Aussie instos come in and take a chunk of equity (although I'm told that they buy through their NZ subsidiaries anyway). Seems to be more of a fade that NZX listed companies are going through at the moment rather than reasons that benefit the shareholders (why enter another market, only for there to not be a market).

    Percy: If EC Credit secure a Aussie bank or insto deal in the next 12 months, I will shout you a drink the next time we meet
    Not a fad in Turners case McGinty ....more of an ego trip by a delusional Board

    Even if the reasons given were of good intent it’s been an abject failure

    Maybe real reason was it was part of Bakers exit strategy .....and that’s not worked either
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  7. #3907
    Speedy Az winner69's Avatar
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    Is the Turners Board congratulating themselves that they have managed to stem the collapse in the share price by having a buyback?

    Wonder if they have any New Years resolutions beside hope hope and more hope that 2019 will be better
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #3908
    Legend minimoke's Avatar
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    Quote Originally Posted by winner69 View Post
    Is the Turners Board congratulating themselves that they have managed to stem the collapse in the share price by having a buyback?

    Wonder if they have any New Years resolutions beside hope hope and more hope that 2019 will be better
    at $2.39 it doesn't seem to have stopped falling yet. At least the brokers are winners.doing well out of the buy back

  9. #3909
    Following the momo
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    Quote Originally Posted by winner69 View Post
    Is the Turners Board congratulating themselves that they have managed to stem the collapse in the share price by having a buyback?

    Wonder if they have any New Years resolutions beside hope hope and more hope that 2019 will be better
    2019 Resolutions:

    - Announce the success of the buyback program
    - Reinstate the 2pm wrap up of future board meetings.
    - Grant to attend next AGM (prefer without a fresh tan)
    - Confirm FY19 downgrade and blame external factors
    - Rejustify why the boards troughing is good even if no future shareholder value is added
    - Announce management/directors takeover at discounted price

    I wonder if the board has worked out yet that the 'buyback' is just providing a market for either Milford or Salt to exit/reduce.

    Looking forward to 2019 as it will be an interesting year
    Last edited by McGinty; 20-12-2018 at 12:52 PM.

  10. #3910
    On the doghouse
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    Quote Originally Posted by minimoke View Post
    at $2.39 it doesn't seem to have stopped falling yet. At least the brokers are winners.doing well out of the buy back
    I joined the queue for the exit the other day. And was there to pick up this ball that others were tossing away.

    My cheeky bid I put in some days ago for a few more shares at $2.38 was hit. Very happy to buy more TRA at these gross yield levels. Particularly with that next divie coming up in just over a month or something!

    Average holding price now down to $2.73.

    SNOOPY
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7

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