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  1. #3191
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    Quote Originally Posted by winner69 View Post
    Byrnes not a car salesman either ......at least how he tried to sell a few at the end of the AGM

    Not a good effort at all ...but we’ll forgive him, after all he’s an accountant
    I wasn’t impressed by Paul Byrnes an the ASM. I thought he was defensive and dismissive.
    In fact, the directors generally, I found quite unimpressive.
    As for big brother Chairman Baker listening in with full vocal ability but not saying a word by way of introduction or explanation? Just plain creepy.
    Ive done well out of TNR and it’s earlier iteration and have sold down at well above $3 but I’m now very tempted to sell the rest and move on.
    Last edited by biker; 06-10-2018 at 11:37 PM.

  2. #3192
    Speedy Az winner69's Avatar
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    Quote Originally Posted by biker View Post
    I wasn’t impressed by Paul Byrnes an the ASM. I thought he was defensive and dismissive.
    ......
    Dismissive a good description. Even Beagle didn’t even get a satisfactory answer to one of his well thought out questions

    Fluffed his response to diversity big time.

    Here’s a big NZ company CEO talking about diversity of thinking

    https://m.youtube.com/watch?v=UwtjpsACvM0
    Last edited by winner69; 07-10-2018 at 07:32 AM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #3193
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    Quote Originally Posted by Beagle View Post
    The other thing I have been pondering that I am not entirely comfortable with is that they admitted at the annual meeting that it had been a tough Q1. Funny thing is they had this huge national roadshow of rah rah revving things up and nothing was mentioned then about a tough Q1 back then even though Q1 had already happened. Further, when I asked Todd Hunter at the first meeting of that roadshow how Q1 had gone he was very dismissive and shut me down very quickly and wouldn't give any insight whatsoever. I think they knew things hadn't gone that well in Q1 at that time, they just didn't want to tell.
    Turners aren't in the habit of releasing quarterly results. This was a roadshow and, as such, answering a question about first quarter performance without simultaneously releasing that information to the NZX, would probably have breached NZX rules. I agree that Todd would most probably have known the first quarter was below budget, whatever that means. April to July is the 'winter quarter', traditionally not the best for motor vehicle sales. It would be interesting to know by what measure they were below budget, given there is not public record of first quarter results. As a shareholder I am much more interested in the full year result, rather than look for micro-trends that may have no meaning in a full year context.

    Percy, regarding your post directly above, let me be clear, I think there are good grounds to believe the bond conversion price was somewhat "engineered".
    I have to admit arbitraging between the value of head shares and bonds (being an owner of both) over the conversion year was a strategy I contemplated. In the end I didn't do anything. But as both a bond and shareholder, can you 'hand on heart' say that you didn't contemplate the same?

    SNOOPY
    Last edited by Snoopy; 07-10-2018 at 12:08 PM.
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7

  4. #3194
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    Quote Originally Posted by winner69 View Post

    Here’s a big NZ company CEO talking about diversity of thinking

    https://m.youtube.com/watch?v=UwtjpsACvM0
    Pull ya head in!. You posted that on another thread and we end up getting our thoughtful and thought provoking posts pulled by the STMOD. Just because you post it here does not change my view.

  5. #3195
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    There's nothing more diverse than an individual.

  6. #3196
    ShareTrader Legend Beagle's Avatar
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    I have to admit arbitraging between the value of head shares and bonds (being an owner of both) over the conversion year was a strategy I contemplated. In the end I didn't do anything. But as both a bond and shareholder, can you 'hand on heart' say that you didn't contemplate the same?
    Snoopy

    I sold some shares at $ 3.16 knowing I'd get them back later and hoping it would be for less, and indeed it was quite a bit less. It wasn't in big volume and I doubt it affected the market.
    Someone was working the market really hard in September and definitely affected the conversion price especially the big dump of 600K shares at $2.80. Whether they were arbitraging or manipulating the market, or both, I will let people decide for themselves. It happened last time the bonds converted too so I am not surprised. In fact every time the company goers to the market for any form of capital raise the SP comes under serious pressure.
    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

  7. #3197
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    Quote Originally Posted by JohnnyTheHorse View Post
    There's nothing more diverse than an individual.
    Especially if that individual has multiple personality disorder.

  8. #3198
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    Quote Originally Posted by winner69 View Post
    Dismissive a good description. Even Beagle didn’t even get a satisfactory answer to one of his well thought out questions

    Fluffed his response to diversity big time.

    Here’s a big NZ company CEO talking about diversity of thinking

    https://m.youtube.com/watch?v=UwtjpsACvM0
    I lasted 1 minute and 40 seconds into that speach, that is 1 minute and 40 seconds of my life I can never get back

  9. #3199
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    Lots of lovely divvies coming up.Lol.

  10. #3200
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    TRA
    08/10/2018 10:01
    CORPACT
    PRICE SENSITIVE
    REL: 1001 HRS Turners Automotive Group Limited

    CORPACT: TRA: TRA declares higher quarterly dividend/re-affirms guidance

    8 October 2018

    Turners declares higher quarterly dividend and re-affirms guidance

    The Board of Turners Automotive Group Limited (NZX: TRA) has declared the
    first quarterly dividend for the 2019 financial year of 4 cents per share,
    fully imputed, with a record date of 23 October 2018 and a payment date of 30
    October 2018.

    In addition, the Board advises that it expects to declare a further two
    quarterly fully imputed dividends of 4 cents per share in January and April
    2019, followed by a fully imputed final dividend of 5 cents per share in July
    2019.

    Chairman Grant Baker said: "The ongoing positive performance of Turners
    Automotive Group allows for increasing distributions and we are targeting a
    minimum FY19 full year dividend of 17 cents per share (up 10% on FY18). Based
    on a share price of around $2.90, this represents an annualised yield of 5.9%
    fully imputed."

    This dividend payment profile is consistent with the Company's policy of
    paying dividends totalling 50% to 60% of Net Profit after tax to shareholders
    and enables the company to balance the twin objectives of providing
    consistent and reliable dividend returns to shareholders and ensuring
    sufficient profits are re-invested in the business to underpin future profit
    and dividend growth".

    At the recent Annual Meeting, the Board reaffirmed its previous profit
    guidance for FY19 of a Net Profit before Tax of between $34 million and $36
    million, the mid-point representing a 13% increase over FY18.

    Turners CEO, Todd Hunter, said: "Turners has never been in better financial
    shape, with a conservative equity ratio and an improved diversified funding
    platform to support growth. The investments we are making into people,
    property and our businesses will deliver further benefits in the second half
    and we are seeing positive momentum in the company. Our confidence in our
    strategy and long term prospects remains at high levels."

    ENDS

    About Turners
    Turners Automotive Group Limited is an integrated financial services group,
    primarily operating in the automotive sector www.turnersautogroup.co.nz

    For further information, please contact;
    Todd Hunter, Chief Executive Officer, Turners Automotive Group Limited Mob:
    021 722 818
    Media Liaison and Assistance: Jackie Ellis, Mob: 027 246 2505
    End CA:00325001 For:TRA Type:CORPACT Time:2018-10-08 10:01:04
    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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