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

[winner69]

Snoopy — I don’t quite follow your logic, esp the bit about holding the Bonds was a hedge against the share price going down -


It was clear from the day that the bonds were issued that if the TRA share price went up, then bonds would be a second class citizen way of investing in TRA. if the share price went down then the bonds potentially gave shareholders access to much cheaper shares at bond maturity time. Holding bonds was a hedge against the share price going down.

[percy]

The bonds were/are a win win situation.
TRA sp increased, bond price increased.
TRA sp goes down,bond holders capital will buy more shares.
And in the meantime bond holders enjoyed a great yield..



ps.Daily Share chat pointed out car and parts sales are up 2.1% for the quarter.After an improvement in trading margin in October and November,after TRA's first half ended,Turners, with their extra new sites should be going gangbusters.Sales,finance and insurance,not to mention sites property development margin.

[winner69]

The bonds were/are a win win situation.
TRA sp increased, bond price increased.
TRA sp goes down,bond holders capital will buy more shares.
And in the meantime bond holders enjoyed a great yield..

I think I sort of get what Snoopy (and you) are getting re this hedging stuff

So for Snoopy's sake we really need to wish like hell that the TRA share price collapses even more ... $2 seems a nice round number and that will give him heaps of shares when he converts.

[winner69]

I see when the latest bonds were issued in October 2016 the TRA share price was $3.02

No idea what this means but seems interesting

Just curious .... need to be curious because Brian Gaynor says its a good thing to be ...and he says all the people who work for Milford are curious (radio ads)

[percy]

I think I sort of get what Snoopy (and you) are getting re this hedging stuff

So for Snoopy's sake we really need to wish like hell that the TRA share price collapses even more ... $2 seems a nice round number and that will give him heaps of shares when he converts.

Yes at $2 Snoopy would be over the moon.He would be barking louder than Beagle [if that was possible]..lol.
Also remember bond holders get first preference to any new bond offer.
The last time the bonds matured, there were some fun and games, as bond holders took advantage of arbitrage opportunities, that presented themselves.A lot of bond holders were also shareholders.
Craigs did not have any of these bonds,so I missed out on them,however The Trust I help out on received a good parcel via Macquaries.
It was always our intention to convert to shares,however I am looking forward to maturity,and the challenge of doing the right course of action.
NB.When TRA share price was over $3.90 a poster posted a brilliant graph of what the bonds [TRAHB] were worth at different TRA share prices.I think the thread was on NZDX somewhere.

[blackcap]

All hunky dory...

https://www.nzx.com/announcements/314789

[percy]

All hunky dory...

https://www.nzx.com/announcements/314789

Thank you for the link.
As always TRA remain "well positioned."

[Beagle]

Good they've stopped the stink bugs this time...something you can see... but in a quite moment once or twice over the last few years I sometimes wonder about second hand imported cars coming from certain parts of Japan and things you can't see. Probably just being over cautious but then again I've never noticed anyone offering to loan me a Geiger counter at a second hand car yard so I can check for myself. You never really know 100% do you ? https://en.wikipedia.org/wiki/Fukush...clear_disaster
Turners being such a reputable company would run a Geiger counter over every second hand Japanese import so customers are 100% safe, surely they wouldn't take the slightest chance with customers wellbeing, or would they even think to do this ?
You can really rely on every second hand auction site in Japan to make sure their cars are 100% radiation free, or can you ? Export documents never get forged and corners never get cut, or does the ugly side of human nature and greed come into it sometimes ? Just a thought. Probably a very, very low chance you'll get radiated but it might be worth checking first ?
Disc: I have never bought a Japanese used import and probably never will.
Would you buy one from the Chernobyl district ?

[percy]

Good they've stopped the stink bugs this time...something you can see... but in a quite moment once or twice over the last few years I sometimes wonder about second hand imported cars coming from certain parts of Japan and things you can't see. Probably just being over cautious but then again I've never noticed anyone offering to loan me a Geiger counter at a second hand car yard so I can check for myself. You never really know 100% do you ? https://en.wikipedia.org/wiki/Fukush...clear_disaster
Turners being such a reputable company would run a Geiger counter over every second hand Japanese import so customers are 100% safe, surely they wouldn't take the slightest chance with customers wellbeing, or would they even think to do this ?
You can really rely on every second hand auction site in Japan to make sure their cars are 100% radiation free, or can you ? Export documents never get forged and corners never get cut, or does the ugly side of human nature and greed come into it sometimes ? Just a thought. Probably a very, very low chance you'll get radiated but it might be worth checking first ?
Disc: I have never bought a Japanese used import and probably never will.
Would you buy one from the Chernobyl district ?

Classic...lol.
Don't know about Chernobyl !!!!!!!!!!!,but I hope you never leave home without your Geiger counter.Better check your TV.Watch out for any of your clients who drive a Japanese car.Get rid of them.Don't ever park next to a Japanese car.Best to get your groceries delivered.Make sure they are not delivered in a Japanese van. Why take the risk?


All the time hundreds of thousands of New Zealanders are enjoying driving the best value for money cars made, thanks to Japanese imports.They are also very cheap to run.

[Beagle]

You forgot to remind me to always wear my tin foil hat
Good to make a joke of these slight worries...as you say extremely unlikely but you never know for sure do you.