SUM - Summerset Group

[Beagle]

Hopefully they take the weekend for a good book-build and sell the lot. I think the company will be better off with new shareholders who have a long term vision for the future of the retirement industry in New Zealand.

[stoploss]

Last placement in mid March was at around 7.5% discount to the market. So if they apply the same discount, it should be priced around $2.79 or $2.80.

I think it still works on that price. They will kick themselves they didn't place to the market at $3.20 the other week!

I'm hearing they want 2.90 .........

[CJ]

EDIT: I was obviously far to slow to post and was clearly wrong. Please ignore:

[Quadrant maybe though I would expect they would wait for the ASX listing first so maybe an announcement/timetable for ASX listing.

An acquisition by them of a small player is another option though no need for market halt unless they need to raise cash for the purchase.]

[chad321]

Is it the market price that may dip after the halt or do current shareholders have access to a potentially discounted rate? Would the general consensus be that SUM are a good long term investment which should only continue its trend?

[CJ]

Is it the market price that may dip after the halt or do current shareholders have access to a potentially discounted rate? Would the general consensus be that SUM are a good long term investment which should only continue its trend?

They will be offered at a discount ($2.90 suggested above) so some buyers in the placement may sell for a quick profit.

It will be a placement to institutions and through customers of the brokerage firm. Existing shareholders will not get the opportunity.

It is a good company but whether it is already fairly prices in the $2.90 - $3 range is the question. I was looking at it when it was $2.60 but sat on it too long and they shot up to $3.20. THis pull back has me interested.

[winner69]

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

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

See ... the NO was really a YES

'Keeping options' open always meany selling on the way

[Beagle]

I'm hearing they want 2.90 .........

More than a little opportunistic in my opinion, one day after the strong result from Ryman propelled this stock a bit higher. Insto's should tell em to get more realistic.

[brevos]

Does anyone know which brokers are placing shares in the Quadrant selldown?

[CJ]

I didn't know it was Summerset's business to talk about Quadrant's share sale! .

Maybe he has been reading Rod Drury's playbook and decided he can comment on whatever the hell he likes, especially if he can put a positive spin on it

Maybe his performance bonus is due soon so he is trying to hit one of his targets.

[Goldstein]

First NZ, and apparently it's all over. Didn't get any, didn't get asked. Did anyone out there get any and if so, at what price?

Well, the turnover is $100m with VWAP at $2.902, means it must have been $2.90 per share.