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  1. #1611
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    This stinks . Small shareholders miss out again

  2. #1612
    Guru
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    Apr 2003
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    Wellington, New Zealand
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    4,876

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    Quote Originally Posted by horus1 View Post
    This stinks . Small shareholders miss out again
    How so? You get a chance to pick some up at $3.02.

  3. #1613
    Advanced Member
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    Apr 2008
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    Kerikeri
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    2,468

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    Quote Originally Posted by percy View Post
    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."
    Thanks Percy. That's clear.
    Well.....I won't be that well positioned then ! As I don't think UBS will call me, that's for sure. Not really wanting anymore so will probably sell any extra I manage to get.

  4. #1614
    Member
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    Dec 2010
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    330

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    Quote Originally Posted by JeremyALD View Post
    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
    cool thanks for the explanation.

  5. #1615
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    Aug 2015
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    103

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    Quote Originally Posted by JayRiggs View Post
    cool thanks for the explanation.
    Don't think the explanation is correct
    The presentation says
    Subject to demand, scaling to be pro rata based on shareholding as at the Record Date
    If 1 shareholder owns 10,000 and another owns 1,000 then the 1st shareholder will get 10 times as many if pro rata applies

  6. #1616
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    Dec 2010
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    330

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    Quote Originally Posted by Not too Flash View Post
    Don't think the explanation is correct
    The presentation says
    Subject to demand, scaling to be pro rata based on shareholding as at the Record Date
    If 1 shareholder owns 10,000 and another owns 1,000 then the 1st shareholder will get 10 times as many if pro rata applies
    Thank you, that is nice to know, because I've been buying the past few weeks around 3.40, so I'll be allowed to have a little bit more!

  7. #1617
    On the doghouse
    Join Date
    Jun 2004
    Location
    , , New Zealand.
    Posts
    9,223

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    Quote Originally Posted by percy View Post
    The more I think about this SPP, instead of a rights issue,I keep thinking it has been done in a hurry.
    Why then????
    Bond debt covenants at the point of being breached? TRA have to move fast to satisfy those greedy backing bankers!

    Quote Originally Posted by horus1 View Post
    This stinks . Small shareholders miss out again
    But there is a possibility here that large shareholders miss out as well. (I say possibility because I don't know if the existing large shareholders are either:

    1/ taking part in the share placement OR
    2/ underwriting the share placement

    )

    One reason for not doing a straight rights issue could be that one or more of the existing large shareholders does not support such an issue!

    SNOOPY
    Last edited by Snoopy; 13-09-2017 at 07:57 PM.
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7

  8. #1618
    Senior Member
    Join Date
    Sep 2016
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    923

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    Quote Originally Posted by JayRiggs View Post
    Thank you, that is nice to know, because I've been buying the past few weeks around 3.40, so I'll be allowed to have a little bit more!
    Ahh sorry I thought it was the same as the heartland bank SPP a little while back

  9. #1619
    percy
    Join Date
    Oct 2009
    Location
    christchurch
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    17,222

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    Quote Originally Posted by Snoopy View Post

    )

    One reason for not doing a straight rights issue could be that one or more of the existing large shareholders does not support such an issue!

    SNOOPY
    Thanks for your post.
    I think this could be the reason,along with the fact a rights issue would not achieve their stated object of improving the "free float".
    Last edited by percy; 14-09-2017 at 06:56 AM.

  10. #1620
    percy
    Join Date
    Oct 2009
    Location
    christchurch
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    Quote Originally Posted by Paper Tiger View Post
    Yeah, done that, send komodo crypto-coins and I will send result .

    And for everybody else I get an EPS increase range of 2.9% to 10.0%.
    Obviously there is a bit of a 'margin of error' on those figures.

    Best Wishes
    Paper Tiger
    The "margin of error" will be greatly affected by the quality and quantity of further either car yard acquisitions,or roll out of Buy Right cars.
    Both the Turners and Buy Right brands make further roll outs easier.
    TRA have the capital to develop their own sites,and with finance and insurance systems already in place, any new outlets should be profitable from their first day of trading.

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