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

[Jaa]

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

And then double dipped via the SPP?

Seriously, we have been debating and expressing our frustration about capital raisings for 10 years now, Boards have no excuse. If they refuse to follow best practice and treat all shareholders fairly, we will need a law change.

[blackcap]

And then double dipped via the SPP?

Seriously, we have been debating and expressing our frustration about capital raisings for 10 years now, Boards have no excuse. If they refuse to follow best practice and treat all shareholders fairly, we will need a law change.

I tend to disagree slightly. You have a vote. Use it. If you do not like it, do not invest in shares. That too is "voting". If capital markets then do not work.. the law will change. If capital markets continue to work well enough, there will be no appetite for a law change.

[BlackPeter]

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 idea - and good opportunity to express our frustration without keeping management away from doing their work.

I used the link to register my view as well ... let's see, whether they are listening.

[hoyinma]

Thanks Jaa for the link.
I had also used the link to express my frustration regarding the SPP.
I was totally misled by the offer document and reduced my holding to make the $15000 application.
I was given 71 shares and I guess I need to buy back my shares in a higher price (cos money is not refunded yet).
Well, I learn a lesson now and try not to be greedy next time (should have applied for $1000 instead).

[GTM 3442]

Thanks Jaa for the link.
I had also used the link to express my frustration regarding the SPP.
I was totally misled by the offer document and reduced my holding to make the $15000 application.
I was given 71 shares and I guess I need to buy back my shares in a higher price (cos money is not refunded yet).
Well, I learn a lesson now and try not to be greedy next time (should have applied for $1000 instead).

I suspect that the "reduced my holding" was taken into account in the scaling.

Although who knows? As transparent as the mythical NZ First "Board".

[JeremyALD]

Thanks Jaa for the link.
I had also used the link to express my frustration regarding the SPP.
I was totally misled by the offer document and reduced my holding to make the $15000 application.
I was given 71 shares and I guess I need to buy back my shares in a higher price (cos money is not refunded yet).
Well, I learn a lesson now and try not to be greedy next time (should have applied for $1000 instead).

71 shares?! What a joke!

I always knew I was never going to get 15k but I was hoping for at least 5k. And now I have learnt it wouldn't of made a difference to my final allocation amount if I requested and transferred significantly less than 15k.

Expressed my view as well in the link. Thanks for sharing.

[horus1]

I am making a formal complaint re the different wording on page 3 and 12 and have advised the the company via the above link . They should honour the most advantagous condition for individual shareholders as per page3 or 12. This is plainly very sloppy and they shouldn't get away with it. Where were there lawyers and banks.

[Under Surveillance]

I am making a formal complaint re the different wording on page 3 and 12 and have advised the the company via the above link . They should honour the most advantagous condition for individual shareholders as per page3 or 12. This is plainly very sloppy and they shouldn't get away with it. Where were there lawyers and banks.

Who are you making the formal complaint to? The FMA? The NZX? The SFO? The Securities Commission? The Small Claims Tribunal? Winston?

[Beagle]

https://fma.govt.nz/contact/make-a-complaint/

I agree this was very shoddily cobbled together. It would be good if they got some sort of reprimand for the most ambiguous statements in the offer document about how the methodology of scaling would work. Here is a link to the appropriate place to send your compliant.

[horus1]

Thank you very much