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

[Beagle]

Just as well for weighted average number eh - wont be waited next year!

So current PE could be a lot higher than EPS growth?

No it won't be weighted next year and there will be even more shares on issue at the half way point again next year when much of the $25m bonds convert to shares.

[percy]

I much prefer rights issues.
SPPs I loath.

The more I think about this SPP, instead of a rights issue,I keep thinking it has been done in a hurry.
Why then????
I think they must have an aquisition or acquistions lined up.and need the funds straight away.
If this is the case,bring them on.!!

[blackcap]

No it won't be weighted next year and there will be even more shares on issue at the half way point again next year when much of the $25m bonds convert to shares.

One positive if not two is that this stock will be coming close to Top 50 consideration as the free float increases and if the SP could increase a bit more may come into contention. If that is a good think one can debate, but at $3.02 I shall be buying a few more. Agree with others that a rights issue is far more equitable than a SPP.

[percy]

Just had a look through the presentation. I guess you either believe the story and buy into it....or you don't and move out of them. For the time being I am in with stock and bonds.

Hope this is not a silly question...

What is the difference between a placement and a share purchase plan (SPP) ?
Is the placement already made to their mates ( for lack of a better way to describe it)....and the SPP an offering that may be scaled to their existing share holders ? Who might their mates be ? (if I have it right)

A placement is where,in this case, broker UBS says they will place $25mil of shares to their clients.If they can't place them, UBS takes them.
SPP is to existing shareholders.
I rang Craigs this morning and said I would take X amount should UBS offer them any.I doubt they will,but you never know.Always pays to be "well positioned."

[JayRiggs]

For this SPP, assuming everyone participates, do we all get an equal amount of shares? Will it be scaled based on how many TRA shares we already have?

The timing of the Hugh Green selldown at $3.35 a couple of months back a tad suspicious, huh???

[JeremyALD]

The more I think about this SPP, instead of a rights issue,I keep thinking it has been done in a hurry.
Why then????
I think they must have an aquisition or acquistions lined up.and need the funds straight away.
If this is the case,bring them on.!!

They said on the call 75% was going towards helping with lending growth so I can't see that happening.

[JeremyALD]

For this SPP, assuming everyone participates, do we all get an equal amount of shares? Will it be scaled based on how many TRA shares we already have?

The timing of the Hugh Green selldown at $3.35 a couple of months back a tad suspicious, huh???

Everyone gets the same. For example if I apply for 15k and you apply for 15k and we are scaled back 50% due to oversubscriptions we'll both get 7.5k worth of shares. If you applied for 5k you'll get 2.5k

[percy]

They said on the call 75% was going towards helping with lending growth so I can't see that happening.

Therefore 25% acquistions.?

[winner69]

Therefore 25% acquistions.?

........further strategic property and dealership acquisitions they said

[percy]

........further strategic property and dealership acquisitions they said

Yes on page 2 or 3 and more on page 26 of the presentation.Extra dealership acquisitions, will offcourse lead to extra lending etc.
So the extra bank,plus the extra money from current bank,plus extra securitization,means extra fun.
Makes the extra $30mil being raised to very small,but it is capital,and that will support the extra fun.