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  1. #3211
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    Quote Originally Posted by winner69 View Post
    Seems $2.90 odd is a fair market price which Baker comfortable with.
    “on a share price of around $2.90, this represents an annualised yield of 5.9%
    fully imputed." “
    That’s one interpretation Winner. Personally I think that share price will increase to make the dividend lower...say 330 or 340. As long as the business continues to do well.

  2. #3212
    percy
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    Quote Originally Posted by RTM View Post
    “on a share price of around $2.90, this represents an annualised yield of 5.9%
    fully imputed." “
    That’s one interpretation Winner. Personally I think that share price will increase to make the dividend lower...say 330 or 340. As long as the business continues to do well.
    A lot of changes have been made strengthening Turners business model over the past few years.
    These changes are now starting to show the board's strategy is on track.
    May take a year or two yet to reach top gear,but it will.
    In the meantime, the increasing dividend is the board's way of showing their confidence in the future.
    I share their confidence.

  3. #3213
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    Quote Originally Posted by Beagle View Post
    Makes you wonder who was smashing shares out at $2.80 in big volume to get the VWAP conversion down doesn't it. Interestingly almost as soon as I mentioned something very strange was going on in this regard on this forum and that I was considering referring the matter to the NZX and FMA the seller smashing the price down stopped selling apart from one big 600K share crossing.
    I think there are reasonable grounds to suspect something untoward was going on late in late September, late in the 90 day VWAP period.

    Someone engineering a better conversion price for their massive bondholding ?...I think it's clear where that trail of breadcrumbs leads.
    At annual report date 31-03-2018, Bartel Holdings held 6,745,624 shares.

    The number of shares held after bond conversion was 9,552,642.

    The number of new shares acquired as a result of bond conversion was 2,807,018

    6,745,624 + 2,807,018 = 9,552,642

    Where is the evidence of a great sell down to manipulate the bond conversion price?

    SNOOPY
    To be free or not to be free. That is the cash-flow question....

  4. #3214
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    Ruthless selling in late September culminating in about 600,000 shares crossed at $2.80. You think it might have been worth dumping about one million shares to manipulate the conversion price of the shares down to get 2.8 million cheap ones ?

    Of course I don't know for certain who was ruthlessly and systematically driving the price down in Sept but its possibly worth noting that selling stopped a day or so after I suggested this might be referred to the NZX or FMA for inquiry. Trail of breadcrumbs is pretty clear in my opinion.

  5. #3215
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    Quote Originally Posted by Beagle View Post
    Ruthless selling in late September culminating in about 600,000 shares crossed at $2.80. You think it might have been worth dumping about one million shares to manipulate the conversion price of the shares down to get 2.8 million cheap ones ?

    Of course I don't know for certain who was ruthlessly and systematically driving the price down in Sept but its possibly worth noting that selling stopped a day or so after I suggested this might be referred to the NZX or FMA for inquiry. Trail of breadcrumbs is pretty clear in my opinion.
    Interesting synopsis. For an illiquidish (I think that is a made up word because I am getting the red squiggly line) stock like TRA it would be easy to push the price down initially, and get momentum sellers on board so that you do not have to use too many of your own shares. Having about 89m shares on issue means you could theoretically use 890,000 before triggering the 1% threshold for holders over 5%. (although that would have meant good management of holding to have it in the .9% area, ie 5.9% 6.95% 7.93% etc)
    Hmmm it could also have been a group acting in consort.....

  6. #3216
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    Quote Originally Posted by blackcap View Post
    Interesting synopsis. For an illiquidish (I think that is a made up word because I am getting the red squiggly line) stock like TRA it would be easy to push the price down initially, and get momentum sellers on board so that you do not have to use too many of your own shares. Having about 89m shares on issue means you could theoretically use 890,000 before triggering the 1% threshold for holders over 5%. (although that would have meant good management of holding to have it in the .9% area, ie 5.9% 6.95% 7.93% etc)
    Hmmm it could also have been a group acting in consort.....
    No that's not possible, used car dealers never get their mates to give a hand selling someone a pup

  7. #3217
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    Quote Originally Posted by blackcap View Post
    Interesting synopsis. For an illiquidish (I think that is a made up word because I am getting the red squiggly line) stock like TRA it would be easy to push the price down initially, and get momentum sellers on board so that you do not have to use too many of your own shares. Having about 89m shares on issue means you could theoretically use 890,000 before triggering the 1% threshold for holders over 5%. (although that would have meant good management of holding to have it in the .9% area, ie 5.9% 6.95% 7.93% etc)
    Hmmm it could also have been a group acting in consort.....
    Ive often wondered if there is a boiler room pump dump group on here.

  8. #3218
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    Quote Originally Posted by Joshuatree View Post
    Ive often wondered if there is a boiler room pump dump group on here.
    collusion..is within most markets and groups of people..quote of the day
    Last edited by Raz; 11-10-2018 at 09:56 PM.

  9. #3219
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    Quote Originally Posted by Raz View Post
    collusion..is within most markets and groups of people..quote of the day
    In here it is " Different ". Aye ?.

  10. #3220
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    Quote Originally Posted by Joshuatree View Post
    Ive often wondered if there is a boiler room pump dump group on here.
    I doubt if this boiler room existed they would be operating on a public forum.

  11. #3221
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    Quote Originally Posted by Snoopy View Post
    At annual report date 31-03-2018, Bartel Holdings held 6,745,624 shares.

    The number of shares held after bond conversion was 9,552,642.

    The number of new shares acquired as a result of bond conversion was 2,807,018

    6,745,624 + 2,807,018 = 9,552,642

    Where is the evidence of a great sell down to manipulate the bond conversion price?
    Quote Originally Posted by Beagle View Post
    Ruthless selling in late September culminating in about 600,000 shares crossed at $2.80. You think it might have been worth dumping about one million shares to manipulate the conversion price of the shares down to get 2.8 million cheap ones ?

    Of course I don't know for certain who was ruthlessly and systematically driving the price down in Sept but its possibly worth noting that selling stopped a day or so after I suggested this might be referred to the NZX or FMA for inquiry. Trail of breadcrumbs is pretty clear in my opinion.
    I will preface my comments here by saying there is no clear paper trail I can find of 'market manipulation', so it would be improper to suggest that the likes of Bartel Holdings are in any way involved with such a scheme.

    When a substantial security holder makes a change in their holdings we are used to prompt notification by the NZX of any such changes. I imagine that in the normal course of business, such notices are sent out promptly by the substantial shareholder concerned.

    The question I have is, what would happen if a substantial shareholder wanted to conceal their moves? What is the maximum time they are legally allowed to take to inform the NZX of such shareholding changes?
    If 600,000 shares were dumped late in September, as Beagle alleges, could these same sellers buy back those shares over the subsequent two weeks (for example) and avoid making any shareholding change declaration?

    SNOOPY
    To be free or not to be free. That is the cash-flow question....

  12. #3222
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    If wanting something to read here’s a good management treatise on how car dealers win in the future (in the US anyway)


    Turners might be better bet over time than Colonial ......best ecosystem wins

    https://www.bcg.com/publications/201...203&redir=true
    Last edited by winner69; 14-10-2018 at 02:51 PM.
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  13. #3223
    percy
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    .
    Turners are already "well positioned",with two trusted brands,Turners and BuyRight Cars,offering online cars, finance, together with insurance,autosure ,and service..
    Last edited by percy; 14-10-2018 at 03:13 PM.

  14. #3224
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    Quote Originally Posted by percy View Post
    .
    Turners are already "well positioned",with two trusted brands,Turners and BuyRight Cars,offering online cars, finance, together with insurance,autosure ,and service..
    ....yes indeed, a winning ecosystem
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  15. #3225
    Ignorant. Just ignorant.
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    How long before Turners look at picking up the franchise for one of the Chinese car brands?

    5 years?

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