SUM - Summerset Group

[RRR]

Any idea who is going to be underwriting it?

[bohemian]

Ill bet Craigs is one.

[janner]

Ill bet Craigs is one.

Never dealt with them !!.. Never say Never !!..

BUT !!.. Caveat Emptor... They are to smart for their own good in my personal opinion..

[janner]

I'm reliably informed Quadrant are exiting their SUM holding in the next couple of days, and will be offering a placement to the brokers/market, at roughly a 6-7% discount to market price.

Anyone else hear anything? Could be a good opportunity to buy in at around $2.40-$2.45.

It would appear that no one else has heard sparky..

The question has to be . WHY !!..

[winner69]

It would appear that no one else has heard sparky..

The question has to be . WHY !!..

Quadrant shares were in escrow until full year announcment

Then on Mar 6 they indicated to the NZ Herald that they were not about to sell, contary to market speculation

SO what other reason do you need .... sale imminent ..... probably as sparks says

Auadrant not a natural owner of Summerset anyway .... but haven't they done well

[karen1]

By reliably informed I mean three brokers offering me and my wider family members access to SUM shares from Quadrant

MUCH prefer your take on it Sparky! Guess I need to ring that broker tomorrow then. Wish I had known the above before I topped up!

[karen1]

Thanks for the info karen1.. You really know how to make my day.. :-))

Take up MRP !!.. Or concentrate on the shares that are being overlooked ( to put it one way ) whilst all the hype is going on..

As I mentioned to STC.. Funds are not bottomless.. If one is happy with ones holdings at present..

Divie time.. So a few sheckles are coming available.. Plus discretionary spending ..

So much to think about !!.. So little time .. :-))

Sorry Janner, didn't mean to burst your bubble! Article sounded pretty firm on Quandrant staying at this stage, and as I hadn't heard from the broker I assumed it (sell down) wasn't going to happen. Great if it does though.

[janner]

The brokers will be working the phones hard tomorrow morning I'd say!

What would a broker know about hard work ???

[CJ]

Hi Sparky, last I knew was this, on 6 March: http://www.nzherald.co.nz/business/n...ectid=10869436 and in light of that topped up the other day, not expecting to get in much cheaper. Have got a note in with a broker though, just in case.

Not that I really care (not a holder, especially not one who has bought in since the 6th), but have they breached any rules for misleading the market (does that only apply to the listed company, not its shareholders). I don't think it could be classed as manipulation and not quite a pump and dump.

That was a vey clear statement so I think it would be extremely unlikely they changed their mind in the last 10 days.

[percy]

My broker tells me that it is not the full sell down expected - Quandrant having decided to hang on to a significant portion to potentially sell later - guess we will get the details tomorrow.

At the float they sold at $1.40.
$2.40 plus they will find better.
Suppose they will hang on to some to sell at $3.40 in a year's time? !!