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

[zigzag]

Down, down, down she goes, where she stops nobody knows! Still think DPC will be a good buy and hold strategy once she bottoms out. Anyone willing to take a guess here? Looks like someone is egging on for 20 cents right now and the options are experiencing more trading than the heads as usual! More frenetic pace going to take shape as the 31st gets closer me thinks...

The last day of trading DPCOA is the 28th, not the 31st.

[bermuda]

At 20c, if they get that low, the heads are trading on a current year P/E of around 12 and forward P/E of around 7 based on projected profit of 10m for 2014/15 – also value in the 20m in tax losses they can utilise going forward - hard to tell how cheap they may get and may depend on the price of the 30m placement.

Options exercisement is always a testing time as people scramble for money. The best time to buy would be May 29th. I WOULD EXPECT dpc TO GET BACK TO 34 PLUS QUITE QUICKLY.

[POSSUM THE CAT]

Bermuda It would be very tight to get them through the share registry and Exercised by 5PM on the 31st of May IMHO the 27th would be last practical day

[bermuda]

Bermuda It would be very tight to get them through the share registry and Exercised by 5PM on the 31st of May IMHO the 27th would be last practical day

Possum,
Sorry I meant the Head Share. The price of the Head Share always seems to fall during the month leading up to expiry.In this case DPC has gone from 34 to 24 cents. Good time to buy the Head share now.

[biker]

Bermuda I agree with your last two posts. IMO the selling of options, and or heads to fund them should be petering out about now and can't see them getting much cheaper. Wouldn't be surprised to see the heads pick up nicely next week once the uncertainty is out of the way - options, and notes sorted, and we have a simple share-only structure.

[biker]

how about this week?...... Today??

[biker]

At 20c, if they get that low, the heads are trading on a current year P/E of around 12 and forward P/E of around 7 based on projected profit of 10m for 2014/15 – also value in the 20m in tax losses they can utilise going forward - hard to tell how cheap they may get and may depend on the price of the 30m placement.

I don't think the placement will be anything like 30 million. There are only 67.5 million to be taken up other than the major shareholders so with say only a 66% take up of those, leaves 23 million to place.

To have to place 30 million would mean almost $4 million written off by ill informed or unaware investors.

i think they may get a 10% no reply from smaller investors, meaning a placement of only about 7 million.

Will be surprised if it's much more and if it is this small, that should help underpin the share price and make good press.

Paul Brynes would seem to have his head screwed on.

Disc. I am adding to my holding at around these levels. They may fluctuate a little lower, but don't think by much.

IMHO. DYOR.


I

[biker]

Also, note these comments on M&A from the full year results, which was also mentioned in the capital restructure announcement. Unless it is just wishful thinking on their part it would seem to me to indicate they probably have M and/or A already lined up, if not in the can.

....
Overall, the Dorchester group is now very well positioned. We remain quite
comfortable with our earlier guidance of a profit after tax of $6 million
from existing operations for the current financial year, with this increasing
to $10 million over the subsequent two years.

We are also confident that M&A opportunities will add to these profit
forecasts.

[kerryo]

Last day today to sell Options DPCOA.

[kerryo]

EXERCISE: DPC: Dorchester Pacific - 134 million options excercise

5 June 2013

Company Announcement

134 MILLION DORCHESTER OPTIONS EXERCISED

Dorchester Pacific Limited (DPC) today announced that approximately 134
million options of the 150 million options on issue have been exercised and
will convert into ordinary shares. The shares will be issued on the 17th
June 2013.

CEO and Executive Director Paul Byrnes said the number exercised was higher
than the 120 million to 125 million expected.

"This is a surprisingly good outcome. We are now working with major
shareholders to see if some of their holdings can be made available as a
small secondary pool to go towards meeting placement demand. As previously
advised the total of new shares issued through the exercise of options and
the share placement will be limited to 150 million shares."

ENDS

A good outcome for Dorchester ......