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

[winner69]

Sure has increased liquidity on the ASX ....but may have 'introduced' some new Aussie invoestors

Hope not a waste of money ....but good for the ego though


"The listing on the ASX will provide the company with access to a larger
capital market to support its growth strategy."

[percy]

Sure has increased liquidity on the ASX ....but may have 'introduced' some new Aussie invoestors

Hope not a waste of money ....but good for the ego though


"The listing on the ASX will provide the company with access to a larger
capital market to support its growth strategy."

Gladly ego is a word that does not fit with TRA's directors or management.

[RTM]

Will be interesting to see if SP jumps today after a lot of people recieved less than they wanted

Well....the folk who missed out on what they wanted clearly don't want to pay the current price. Which at 3.18 is only about 5% plus brokerage above the SPP.
I'm hoping that the share price will increase to around $3.40 again. At that price I will unload the extra's that I got. Which are about 1/2 of Percy's. (Happy with my allocation)
Don't really want a lot more of them in my portfolio. For my liking they are a bit like Apple in that they are to reliant on one product. Used cars.
Hmmmm....now, thinking about Apple...have I got it right ?

[sb9]

Will be interesting to see if SP jumps today after a lot of people recieved less than they wanted

I think it'll move up once the refunds are processed and people got their money back, which can be used to fund more purchases.

[McGinty]

Right I've shared my thoughts with the company via email (stuck to the facts around the discrepancy of scaling reference dates), will be interested to see if what I receive back.

I would love to call Todd Hunter and vent, but as I still hold shares in this company (although not as many) I would prefer that he focusses on running the business.

Beagle, yes I picked up on the reduction in EPS growth as well and coupled with the recent DPC style (Dorchester) capital raise, my sentiment in this company has changed from my Aug post #1491. This sentiment also seems to be backed by the market at the moment.

Just another lesson for me in sticking to my TA rules, no matter how good the FA seems to be

Anyway it's time to move on with a smile

[Beagle]

Quality of new cars is another factor. Bought the Mrs the all new 10th generation Honda Civic last month, a 2017 demo for $26,500. Really after ten generations this has morphed into a medium sized car now and has almost exactly the same proportions as the previous model Honda Accord. Its been a real eye-opener experiencing the quality of that car compared to much more expensive cars we've bought in the past and to say Mrs Beagle is extremely pleased with it would be quite an understatement. In my opinion the technology, features and quality of some of the latest models make a compelling case for themselves. That said the truth is there is a VAST mass market still in the used car field for people who can only afford a circa $12-15K car and that's where Turners comes in with their one stop shop business model. I think the shares are good value but my preference continues to be to invest in the convertible bonds with this one.

Mcginty - My view has also changed since this post of a similar timeframe to the one you referenced above. I have been reducing my stake in the convertible bonds lately, let another $15,000 go this morning. I remain of the view that with the plethora of interest and deposit free deals on new cars with their new technology and greater fuel efficiency and the way that manufactures are making it dead easy to own a new one, (and there are some truly outstandingly good cars out there for very modest money such as Mrs Beagle's new one), that there's more growth in the new vehicle market and I note that Colonial motors with its outstanding 99 year history continues to trade at a meaningful PE discount to Turners. Further, Colonial Motors are now trading in their 100th year and I expect a nice juicy special dividend to commemorate their 100 year history over the coming 12 months. Disc: Reduced Turners bonds, allocated that capital to increasing my stake in Colonial motors shares. I like to see genuine professionalism in the way shareholders are treated.

[Jaa]

I have expressed my displeasure via the Turners investor enquiry form below:
http://www.turnersautogroup.co.nz/In...Enquiries.html

Below is what I sent, will let the forum know if they reply.

I am contacting the company to register my disgust with how Turners recent capital raising was run. There seems to have been no rush to raise the money.

Offering discounted shares to the big end of town while shafting your small shareholder base with a token SPP that does nothing other that tie up our money to the company's advantage is no way to build a sustainable company with a loyal shareholding base.

Can you now assure me as a shareholder and owner of this business that any future capital risings will be via renounceable rights issues which NZ Shareholders Association and many others recommend as best practice? If not, why not?

Here's some free advice:
https://www.nzshareholders.co.nz/sha...tpracticeid=23

[forest]

I have expressed my displeasure via the Turners investor enquiry form below:
http://www.turnersautogroup.co.nz/In...Enquiries.html

Below is what I sent, will let the forum know if they reply.

I fully agree with you on this point, capital raising should be carried out fairly.

[winner69]

I fully agree with you on this point, capital raising should be carried out fairly.

Seems fair when the big end of town and real committed shareholders like Percy and his wife get plenty more than smaller share holders

There's a pecking order you know.





Don forget Percy got his mitts on heaps when the big end of town were sharing out the first $25m

[sb9]

I have expressed my displeasure via the Turners investor enquiry form below:
http://www.turnersautogroup.co.nz/In...Enquiries.html

Below is what I sent, will let the forum know if they reply.

Good on ya Jaa, well done