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27-09-2018, 10:29 AM
#3081
Originally Posted by percy
AGM.held 2015..16th September.
……………….2016..14th September
……………...2017..20th September.
2018 it was held a week later on 26th September.
Trend suggest an AGM in the week 17 - 21 was on the cards.
So for a start TRA delayed AGM by a week.
Given the 6 day variability (14 - 20th) you'd think you wouldn't go booking a non refundable trip 6 days either side of usual parameters.
And if he had booked a non-refundable holiday a year ago, thats plenty of time to organise an AGM around it.
I dont think there is any conspiracy theory - just poor form.
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27-09-2018, 10:40 AM
#3082
Originally Posted by winner69
Yes Beagle a warning sign....a red flag
I get the impression that Baker not as keen on Turners as he was and looking at how he can exit.
Maybe ASX was that path but ....
Maybe you won’t be able to be sarcastic at the next AGM beagle
Bad enough being muzzled once...
Last edited by Beagle; 27-09-2018 at 10:45 AM.
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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27-09-2018, 10:41 AM
#3083
Originally Posted by minimoke
There was some mention (like the Directors visits and a bit about how a few ozzies are holders) but I might have missed the detail on why the ASX listing has failed to fire..
Listen to the webcast.
Australian intos can only invest in ASX listed stocks.
As TRA are listed on ASX, Aussie intos can buy them.They have brought TRA in NZ.
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27-09-2018, 10:43 AM
#3084
Originally Posted by winner69
Aussie just don’t see Turners as a good investment .....simple
Some Australian intos are on the register.
Same as EBO,though few, if any shares trade in Aussie.
The intos buy/sell in NZ,however if either were not listed in Aussie the Aussie intos would not be allowed to buy them.
Last edited by percy; 27-09-2018 at 10:45 AM.
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27-09-2018, 10:45 AM
#3085
Originally Posted by Beagle
That's a scary thought...bad enough being muzzled once...
......was referring to the intended sarcastic remark to Baker ...he won’t be there
And I doubt whether you’ll be a shareholder this time next year ....even though you getting heaps of exceptionally cheap ones next week
”When investors are euphoric, they are incapable of recognising euphoria itself “
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27-09-2018, 10:50 AM
#3086
Originally Posted by winner69
......was referring to the intended sarcastic remark to Baker ...he won’t be there
And I doubt whether you’ll be a shareholder this time next year ....even though you getting heaps of exceptionally cheap ones next week
W69.
Is Turners new Wellington yard open yet.?
Will you check it out and let us know what it is like please.?
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27-09-2018, 10:50 AM
#3087
Originally Posted by winner69
......was referring to the intended sarcastic remark to Baker ...he won’t be there
And I doubt whether you’ll be a shareholder this time next year ....even though you getting heaps of exceptionally cheap ones next week
Yes mate, that's what I was getting at. Him not being there had the effect of muzzling me a bit. Could have worked myself up a bit more about the whole thing if I could see the target...possibly a good thing I didn't...wouldn't have made any difference anyway...
I don't think the shares issued in exchange for bonds are going to be cheap at all. Not sure where the 5% discount to 90 day VWAP price will be but it will be a little lower than when I ran some analysis on it earlier this month and arrived at $2.94. My best guess is ~ $2.91.
Interesting that such a very high percentage of people investing in their new 3 year bond offer are new investors to Turners, announcement this morning. This comes on the back of only 50% of bondholders electing to convert to shares compared to 75% the previous time. This suggests that quite a significant proportion of bondholders asked for their money back in cash. (Keep in mind existing bondholders had preferential rights to new bonds) A fairly reasonable number of bondholders, (much higher than last time) appear to have decided the grass is greener in some other investment opportunity. Frustrated with returns anyone ?
Turners really a yield story with only quite moderate eps growth and long term headwinds as we move very slowly towards self driving ride share vehicles. Each to their own but this is not going to be a high conviction holding for me or a large one. Leave Percy to enjoy the sunshine up at the big end of the tent
Last edited by Beagle; 27-09-2018 at 11:17 AM.
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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27-09-2018, 12:07 PM
#3088
I'm also enjoying that sunshine at the big end of the tent Beagle, having a few relaxing ciders waiting for the next juicy divvy, makes up a healthy but not greedy 9% of my portfolio.
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27-09-2018, 12:16 PM
#3089
Well yesterday's barking has left me a little "horse" and tired. It takes a lot of energy to try and morph into a wolf you know
It is what it is..a reasonable hold with some modest eps growth in the foreseeable future trading of a cheap PE of less than 10 and a gross yield of ~8% but long term headwinds. I think there are better and a lot worse opportunities out there. I doubt anyone is going to get really rich out of this one and note Colonial Motors considerably better long term track record of creating shareholder wealth, also trading on very undemanding metrics.
Someone commented to me after the meeting that used cars is a tough game. I think that SUM's it up pretty well.
Last edited by Beagle; 27-09-2018 at 12:18 PM.
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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27-09-2018, 12:22 PM
#3090
Well done Beagle for speaking up, I'm sure if Mr Baker had have been there you would have left a few teeth marks.
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