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- TRA - Turners Automotive Group [previously TNR - Turners Limited]
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19-08-2018, 06:16 PM
#2681
Originally Posted by macduffy
My impression over the 40+ years that I've been interested in such things has been that Colonial Motors has almost always been cheap on fundamentals. Something to do with perceived as being a boring old income stock with limited growth prospects?
Did you check the half year report out in February 18...16% eps growth for the first half from memory. This weeks results will be very interesting. Special divvy to commemorate their 100 year anniversary perhaps ?
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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19-08-2018, 07:28 PM
#2682
Originally Posted by percy
Nothing to do with:
Chair..... J Gibbons
Director...G.Gibbons.
Director.. S.Gibbons.
CEO...…….G.Gibbons
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.?.
CMO owned Hutchinson Motors Christchurch.
CEOs.O Hutchinson,...…………………......Grandfather
………...O.A.Hutchinson………………………..Son.
………….J.Hutchinson, current CEO...…...Grandson.
To be fair Percy, I know Jim Gibbons (the chair) and he said to me that it was a family business (thus the board) but the rationale for listing was to enhance governance and thus enhance the performance of Colonial. They seem to have done that. I am very happy with my investment in this boring but very EPS growing company.
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20-08-2018, 09:13 AM
#2683
Originally Posted by Beagle
Conversion notice must be received by the registry by 5.00 p.m. 30 August 2018.
Conversion is based on 5% discount to 90 day VWAP in the 90 days leading up to conversion, i.e. 1 July to 30 September trading.
I brought up the chart since 1 July and looked at volume and prices traded since 1 July.
1 July to 31 July.
Stock traded down commencing the month at $3.20 and ending at $3.10. Low volume most of the month but big volume days (for TRA) were noted during the month as 430K at $3.20 and 200K at $3.15.
August has seen the SP open at $3.10 and trade down to $2.94 with big volume days for this lightly traded share noted as 400K at $3.05 and $800K at $3.03.
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The cynic in me says that the Bakery Business changed their affairs so they could "cross" some large volume at high prices during the 90 day period such as to "help" the conversion of bonds into shares..... (but what would I know)
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20-08-2018, 09:24 AM
#2684
This new director seems to be the bee’s knees or is it’s the cat’s whiskers
https://www.nzx.com/announcements/322431
Bit of a worry if he’s well connected and has has access to networks as well as success in selling businesses (just putting some of the words in a different order)
Last edited by winner69; 20-08-2018 at 09:26 AM.
”When investors are euphoric, they are incapable of recognising euphoria itself “
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20-08-2018, 09:31 AM
#2685
Originally Posted by blackcap
The cynic in me says that the Bakery Business changed their affairs so they could "cross" some large volume at high prices during the 90 day period such as to "help" the conversion of bonds into shares..... (but what would I know)
Dunno about that. I could make an argument that depressing the price helps bond holders with a more favourable strike price. And that putting more stock into the market during the 90 day period would do exactly that.
Can anyone point me to where I could source the volume and daily weighted average price ? Or is this not easily available to Joe Av. Punter. Should have started to collect the data a couple of months ago, knowing this was coming up.
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20-08-2018, 09:42 AM
#2686
Originally Posted by RTM
Dunno about that. I could make an argument that depressing the price helps bond holders with a more favourable strike price. And that putting more stock into the market during the 90 day period would do exactly that.
Can anyone point me to where I could source the volume and daily weighted average price ? Or is this not easily available to Joe Av. Punter. Should have started to collect the data a couple of months ago, knowing this was coming up.
Sorry you understand me wrong. What I meant was that they want the exercise price to be high so that less shares are diluted. But I see what you mean, by having a higher price more shares may not be converted which would lead to more cash leaving the business, something that may not be seen as optimum either. Moot point either way I guess. They cynic has been exercised
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20-08-2018, 09:58 AM
#2687
Turners already had a board with a great deal of skin in the game,so I welcome Martin Berry's appointment.
He certainly has a wealth of experience.
Turners is far from being a family business, which I think is positive.
With a great business model, strong balance sheet,capable directors and management, shareholders can look to the future with a sense of wellbeing,and excitement..
I remain,as expected "well positioned."
ps The Trust I help out on with be converting its bonds to shares.
Worked out very well for it.Will get more bang for its buck.
pps.No brokerage to pay...
Last edited by percy; 20-08-2018 at 10:19 AM.
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20-08-2018, 10:08 AM
#2688
Originally Posted by winner69
You need to have a record of every transaction to calculate the WVAP properly for any particular period. As such you need access to stuff mere plebs don’t usually have.
Even averaging daily WVAP numbers won’t get you the right answer but probably wouldn’t be too far off ...unless there are few million share days
ANZ Securities provides WVAP for each share on their depth screen. If I had recorded that at end of each day....I could have used it and not been to far astray. Or do I have this wrong ?
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20-08-2018, 10:26 AM
#2689
Originally Posted by winner69
This new director seems to be the bee’s knees or is it’s the cat’s whiskers
https://www.nzx.com/announcements/322431
Bit of a worry if he’s well connected and has has access to networks as well as success in selling businesses (just putting some of the words in a different order)
Interesting - I guess somebody with "a successful track record of having built, acquired and sold several companies with values in excess of USD 100m" might come handy in a venture with the involvement of the Bakers. Wouldn't be the fist time they play this game.
On the other hand - his banking experience might be useful as well, so lets see how things go.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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20-08-2018, 10:38 AM
#2690
Originally Posted by RTM
Can anyone point me to where I could source the volume and daily weighted average price ? Or is this not easily available to Joe Av. Punter. Should have started to collect the data a couple of months ago, knowing this was coming up.
Try TradingView. NZ equities data is slightly delayed, 10-15 minutes but should be good enough for what you are looking for?
Volume bars at bottom. VWAP Blue line running through the candles. Note VWAP only computes for intraday periods
Attachment 9861
Last edited by causecelebre; 20-08-2018 at 10:40 AM.
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