TRA - Turners Automotive Group [previously TNR - Turners Limited]

[bull....]

http://www.nzherald.co.nz/business/n...ectid=11396066

Demand for vehicles has surged, underpinned by a buoyant local economy, record migration and a higher local currency, which reduces the cost of imports. The used car market is also benefiting as lower prices flow through and the country's ageing fleet comes up for replacement.

[biker]

Two years ago (31-03-2013) there were 358.740m DPC shares on issue. Today there are 631.496m DPC shares on issue. Dorchester has changed so much in that time, with acquisitions and divestments, it is almost a completely different business (edit: to reflect this they are going to change their name).

To suggest that a 37c support level, based on some share price two years ago will have any effect on Dorchester today is ludicrous IMO. Dorchester may indeed get to 37c. But if it does it will have nothing to do with anything that happened two years ago when Dorchester was quite a different thing.

SNOOPY

So time to change the title of this thread to TURNERS.
Will be interesting to see what else is cooking with 'Turners'.
I suggest Grant Baker has a lot more in mind for this company.
Disc. Hold so I'm biased

[Snoopy]

So time to change the title of this thread to TURNERS.
Will be interesting to see what else is cooking with 'Turners'.
I suggest Grant Baker has a lot more in mind for this company.

I hope to see a more stable future for DPC/Turners. There has been a lot of change over the last two years. Time to bed things down and think about a succession plan with the ultimate departure of Paul Byrnes. If DPC can keep doing what they are doing well then I see a bright future.

Disc. Hold so I'm biased

I hope you meant to say that you are an interested party and so have skin in the game going forwards.

If you are really biased, that means you will have altered your opinion of what is the right way to go forwards, solely because you are now an owner of the shares. Being a shareholder does not require you to be a cheerleader for the company at the same time.

SNOOPY

[golden city]

is there another acquistion on the card

[junh]

Does anyone know the approximate share price of DPC in order to be part of NZX50?

[Snoopy]

Does anyone know the approximate share price of DPC in order to be part of NZX50?

At 36c, DPC has a market capitalisation of $227.4m. But it has several substantial shareholders.

1/ Harrigans Trustees on 7.009% (consideration for purchase of EC control business)
2/ Bartel Holdings on around 7% (associated with Turners Auctions takeover)
3/ The Business Bakery, around 13%
4/ Hugh Green Investments, around 22%

I am not sure if all or any of these would be considered as reducing the free float of shares available. Assuming none of them do, then comparing the capitalisation of companies towards the bottom of the NZX50.

STU at $2.84, worth $251.2m
PEB at $0.77, worth $245.3m
SKL at $1.39, worth $268.0m
NZO at $0.64, worth $269.5m

means DPC is not quite there yet.

Based on the current number of shares on issue (631.496m), the DPC share price would need to rise to 40c for the market capitalisation to crack $250m.

SNOOPY

[bunter]

At 36c, DPC has a market capitalisation of $227.4m. But it has several substantial shareholders.

1/ Harrigans Trustees on 7.009% (consideration for purchase of EC control business)
2/ Bartel Holdings on around 7% (associated with Turners Auctions takeover)
3/ The Business Bakery, around 13%
4/ Hugh Green Investments, around 22%

I am not sure if all or any of these would be considered as reducing the free float of shares available. Assuming none of them do, then comparing the capitalisation of companies towards the bottom of the NZX50.

STU at $2.84, worth $251.2m
PEB at $0.77, worth $245.3m
SKL at $1.39, worth $268.0m
NZO at $0.64, worth $269.5m

means DPC is not quite there yet.

Based on the current number of shares on issue (631.496m), the DPC share price would need to rise to 40c for the market capitalisation to crack $250m.

SNOOPY

50c+ I reckon. 270m free float probably needed.
HG definitely not part of the free float. Any now you mention it, those others might not be either.
See PGW thread.

[BFG]

Good times

http://www.stuff.co.nz/business/indu...-for-used-cars

[percy]

here it is

Thank you.
A great story watching Paul Byrnes turn the ailing DPC into a strong business that TNR is.
So few turn arounds work,so the history makes good reading.

[Snow Leopard]

...[from 21-Mar-14]...

Value at 31-Mar-2014: $0.234
Value at 31-Mar-2015: $0.248
...

Nearly a year ago now I came up with that .
Things have changed a little since then.

Best Wishes
Paper Tiger