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

[Dr_Who]

Well I read DPC response to NZX enquiry.....hate to admit it.. but.. I didn't understand one word that was written ...could anyone with a higher IQ than me please tell me the state of DPC with facts from this piece of gobbledygook nonsense.

Oh dear!!! as an investor I going off DPC and the rest of these financial companies in a big way!!!!

NZX..I consider this disclosure as unacceptable.

End CA:00163570 ForPC Type:GENERAL Time:2008-04-22:16:48:30

I have the exact response as you. What the fack are they on about?

[Reihana]

At the same time, whether you can decipher the detail of the statement or not, it pleases me to see DPC and others telling the NZX to stick it up their kilt. The school prefectly tone of their communications alone puts my nose out of joint. Then there's their utter lack of commercialism. What a bunch of cardy-wearing hacks!

[QOH]

At the same time, whether you can decipher the detail of the statement or not, it pleases me to see DPC and others telling the NZX to stick it up their kilt. The school prefectly tone of their communications alone puts my nose out of joint. Then there's their utter lack of commercialism. What a bunch of cardy-wearing hacks!

Yes I thought NZ Finance sounded PO in their response too.

[Toddy]

Yes I thought NZ Finance sounded PO in their response too.

DPC management have not got time for continuous financial disclosure but have time to get into a legal dispute with the 'system' by taking on the very establishment that is trying to give them a platform to show how secure they actually are. Hence, making it easier for them to raise capital.

This is an opportunity for the financial companies, not a threat.

But then again, it all depends on how 'bent' you are. i.e what you have to hide.

[Nitaa]

Full Disclosure?

What about DPC's investments in Queenstown? Why is it that I know about it yet the market doesnt? How about some shareholder ask DPC these investments. Or ask about how much tyhey arte making/losing on the reverse moortgages. Getting sour by the day but then again, what would i know?

If any of you people are holders, give them a ring and ask how these investments are going. Then see what happens in the next few months.

[mskv]

At that time, that it was a defensive move...a textbook example of merging with the big guys so they can protect ones backside from a hostile takeover as well as protection against an increasingly hostile financial environment. At the time DPC was exposed (high NTA value) with funds drying up, a shortage of experienced skilled personnel, and Hugh Green at that time may not had been seen as a reliable white knight stockholder.

In hindsight... a good move for DPC as a ongoing company.....bad news/no win situation for the shareholders.

In hindsight we can call this purchase of St Laurence anything we like. It may have been all sorts of strategies.
The issue is that amongst all the turmoil of the finance sector DPC purchased 25% of ST Laurence for $30m. now that makes by my arithmetic a valuation of $120m when STL net assets were $50m.

As a DPC shareholder my only hope is that there is some value in the StL holding?? How did there capital raise go?

[mskv]

Full Disclosure?

What about DPC's investments in Queenstown? Why is it that I know about it yet the market doesnt? How about some shareholder ask DPC these investments. Or ask about how much tyhey arte making/losing on the reverse moortgages. Getting sour by the day but then again, what would i know?

If any of you people are holders, give them a ring and ask how these investments are going. Then see what happens in the next few months.

What queenstown investment? Whats the gos on that?

Hope it isn't one of those big loans thay made in the last half year?

[Nitaa]

What queenstown investment? Whats the gos on that?

Hope it isn't one of those big loans thay made in the last half year?

This is a question you (if you are a shareholder) need to ask DPC.

disc: I am not a qualified advisor so please do your own research

[Hoop]

Full Disclosure?

What about DPC's investments in Queenstown? Why is it that I know about it yet the market doesnt? How about some shareholder ask DPC these investments. Or ask about how much tyhey arte making/losing on the reverse moortgages. Getting sour by the day but then again, what would i know?

If any of you people are holders, give them a ring and ask how these investments are going. Then see what happens in the next few months.

Last year when the shares started down turning at an accelerated pace, I emailed DPC as an concerned shareholder, gave them all my personal information so they would know I was genuine... eg shareholder number phone number to ring etc etc...After no response to my email I rang twice and got mucked around (busy,sorry unavailable). They never did reply to my phone-calls neither...so I took the view this was a bad sign.

Also well done Pyne Gould Corporation Limited (PGC) Marac!!!
Just goes to show who the switched on finance companies are in NZ.
They were happy to comply, no grizzles....Saw an opportunity to promote their company and did so..Got great free advertising for their efforts from the media. They come across as investor friendly, nothing to hide, no bullsh1t, we are doing alright attitude showing facts to prove it.

The rest...sad to say more of the same old BS, unfriendly tardy companies with I don't give a sh1t altitude..gave an impression to media that they have issues and lots to hide...

Apart from Marac who took this as a good marketing opportunity the rest I'm afraid dropped the ball.

This guys( Reihana & Co).... is commercialism at work...... Companies who see opportunity within a poor situation and milk it for what it's worth....Marac is miles ahead in this department and this probably why they are successful within this tough financial environment.

[dsurf]

[QUOTE=Hoop;196127]Well I read DPC response to NZX enquiry.....hate to admit it.. but.. I didn't understand one word that was written ...could anyone with a higher IQ than me please tell me the state of DPC with facts from this piece of gobbledygook nonsense.

Oh dear!!! as an investor I going off DPC and the rest of these financial companies in a big way!!!!

NZX..I consider this disclosure as unacceptable.

Hoop let me translate:







Dorchester Pacific Limited ("DPC") has received the letter from NZX Regulation referred to in their press release dated 18 April 2008 entitled "Finance Company Disclosure".

= It is only a letter under the "Finance company disclosure rules" therefore we only need to obey the legal & technical guidelines of these rules (shareholders, debentureholders etc don't need info, this is for the insiders only)

DPC undertakes regular reviews of a broad suite of financial metrics relevant to assessing its financial and trading position, and its solvency.

= We will not tell you which metrics or whart thier values are because it is not anyones business

Whilst the matters listed by NZX Regulation in its 18 April 2008 letter are important considerations, they are a subset of the broader suite and focussing on these factors without regard to the other metrics provides an incomplete and potentially misleading picture.

= We disagree that these metrics are important since they only tell part of the story and we are not keen to tell any of the story since the publice etc are too dum

These financial metrics are reviewed by DPC against the background of its continuous disclosure obligations under Rule 10.1.1 of the NZSX Listing Rules and the disclosure requirements placed upon Dorchester by its various trust deeds.

= We are obeying the rules but refuse to prove it

Should any such factor, when considered in the context of other relevant information, be "material information" under the NZSX Listing Rules, then DPC is required to disclose such information to the market.

= as per the rules

The Directors confirm that as at the date of this letter DPC is in full compliance with its obligations under Rule 10.1.1. In providing this confirmation, the Directors have specifically considered the matters listed by NZX Regulation.

= as per the rules


All up another collossal communications failure by the board.

Best they go - they are hopeless

p.s. does anyone know what they are focusing on - RAM? property loans? car loans? anything profitable? shareholder relations? capital raising?

Seems all they do is cover there own backsides while protecting their jobs