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

[blackcap]

There is always a lot of sensitivity around Directors Fees, hence the advice...but you are probably right, should have just made the correction. But if you can find me a lawyer that charges $250 per hour please let me know!

.

I take your point around sensitivities. Oh no, I assumed it was a 15 minute job, hence the comment of $250+.

[bull....]

good result .... cyclone helped ?
i dont agree with there prediction on pg 43 of OCR down cycle commencing 2nd half this yr therefore have to question there chances of achieving 50m target by 25 if there forecasts are based on lower rate cycle. Also rbnz forecasting after this wed may show much higher for longer forecast throwing into doubt even more there senario's

i brought tra as disclosed on black monday thread around 330 mark

ocr out and as xpected by me anyway ocr tracking by rbnz for when cuts in rates will occur has pushed out further in future. so stick by my view tra forecasts of 50m look over optimistic

[ronaldson]

Just a reminder to everyone that the ASM is on Wednesday at 10.30am at PWC Tower, Commercial Bay, in Auckland. Parking building very handy and a good time to avoid heavy morning traffic, so I will be in attendance.

The extent of the vote against the proposed Director Fee increase will be interesting. This is a Company where the current Board control quite a significant proportion of the voting shareholding. Does anyone know if they are able to vote those shares towards (a) their own re-election if they are standing, and (b) the intended increase in Director Fees?

Or, if it is legal to do so, if the Institute of Directors/NZSA consider it ethical to do so?

[winner69]

Just a reminder to everyone that the ASM is on Wednesday at 10.30am at PWC Tower, Commercial Bay, in Auckland. Parking building very handy and a good time to avoid heavy morning traffic, so I will be in attendance.

The extent of the vote against the proposed Director Fee increase will be interesting. This is a Company where the current Board control quite a significant proportion of the voting shareholding. Does anyone know if they are able to vote those shares towards (a) their own re-election if they are standing, and (b) the intended increase in Director Fees?

Or, if it is legal to do so, if the Institute of Directors/NZSA consider it ethical to do so?

Seems they can’t vote re the fees …from Notice of Meeting

In accordance with NZX Listing Rule 6.3.1, the Company will disregard any votes cast in favour of Resolution 5 by any Director and any of their respective Associated Persons (as that term is defined in the NZX Listing Rules), other than where the vote is cast by a Director or any of their respective Associated Persons as proxy for a person who is entitled to vote on Resolution 5 and in accordance with their express directions on the Proxy Voting Form to vote on Resolution 5



I don’t think they can vote for themselves to be re(elected) …stand to be corrected though

[ronaldson]

Thanks, winner69. I should have looked more closely at the Notice of Meeting.

I guess my post above marks me (correctly) as a retiree. As a frequent attendee at ASM's if they are in Auckland and I am a holder I do wonder at the prevailing situation where most/all are clearly in my age bracket. I know that most meetings are now hybrid in nature (which is good) but mid-morning/early afternoon timing still is very limiting on attendance. If you are employed hybrid is still not a realistic means of attending during working hours.

Would any listed entity be willing to trial an evening meeting? Say 7.30pm with supper/bar open after? Still hybrid, but designed to be fairer with regard to the opportunity to attend?

I expect some derision here, but wouldn't it be more appropriate?

I know you can vote via a proxy appointment but really the whole process seems designed to exclude an entire class of potential participants, being those gainfully employed.

[BlackPeter]

Thanks, winner69. I should have looked more closely at the Notice of Meeting.

I guess my post above marks me (correctly) as a retiree. As a frequent attendee at ASM's if they are in Auckland and I am a holder I do wonder at the prevailing situation where most/all are clearly in my age bracket. I know that most meetings are now hybrid in nature (which is good) but mid-morning/early afternoon timing still is very limiting on attendance. If you are employed hybrid is still not a realistic means of attending during working hours.

Would any listed entity be willing to trial an evening meeting? Say 7.30pm with supper/bar open after? Still hybrid, but designed to be fairer with regard to the opportunity to attend?

I expect some derision here, but wouldn't it be more appropriate?

I know you can vote via a proxy appointment but really the whole process seems designed to exclude an entire class of potential participants, being those gainfully employed.

I think this is a fair comment and a proposal worthwhile to investigate. Having been involved however for some years in setting meetings for shareholders and typical AGM attendents (when I used to sit in one of the regional NZSA committees) I know that it is not straight forward to find a meeting time which pleases everybody (or even to predict a favorite), and no - the preferred time is normally not in the evening. On top of that - many of the AGM attendents do this as part of their job or main occupation. Not sure, I would want to add another 20 or so evening sessions per year into my schedule - would you? Means as well that everytime you go to an AGM which is not local, you need to book not just a flight but as well a hotel room.

What I however think companies could do is just ask their share holders ... and this is something TRA could start. Why not have a poll asking shareholders what time of the day (morning, afternoon or evening) they would prefer for the next AGM?

[winner69]

Quick …..change you NO votes yo YES re payrise for Directors

They working hard delivering record results …even this financial year

http://nzx-prod-s7fsd7f98s.s3-websit...864/401061.pdf

[Muse]

Quick …..change you NO votes yo YES re payrise for Directors

They working hard delivering record results …even this financial year

http://nzx-prod-s7fsd7f98s.s3-websit...864/401061.pdf

lol I didn't proxy maybe should have a change of heart?

fy24 dividends "expected to be at least 24cps". so call it what 24.5?

DPS consensus for the 3 analysts covering TRA (Jard, CIP, Forbar) was 23.2.

nice upside surprise in a tough environment.

[Rawz]

What a great business

[Rawz]

I have that feeling there’s going to be a bit of profit downgrade cum ASM time

Curious what your feeling was re potential downgrade? Not being a dick