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Thread: LPC

  1. #321
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    Quote Originally Posted by percy View Post
    Well not sure what I was doing today??
    My reaction time went from slow,to very slow,then dead slow.By the time I reversed it,and got back up to full power slow speed, I spent the afternoon chasing the LPC shareprice,without success. The train has left the station with me still in the ticket office trying to buy a ticket.!!! With so few good trains,one really has to be more alert.!!
    Once again Percy, do you need to consider an on-line broker? I missed it as well. Too busy watching cricket.

  2. #322
    percy
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    Quote Originally Posted by noodles View Post
    Once again Percy, do you need to consider an on-line broker? I missed it as well. Too busy watching cricket.
    There were shares for sale when I first posted today.But no I did not think it through.Took awhile to decide they were a gift. Then I did not match the seller.Then thought seller would come down to my price.Then those shares were gone. And so on.Only 11,825 traded.I have left a buy order in for 5000 at $2.85.
    Only myself to blame.
    Question;How can you be busy watching cricket?!! lol.

  3. #323
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    Quote Originally Posted by percy View Post
    There were shares for sale when I first posted today.But no I did not think it through.Took awhile to decide they were a gift. Then I did not match the seller.Then thought seller would come down to my price.Then those shares were gone. And so on.Only 11,825 traded.I have left a buy order in for 5000 at $2.85.
    Only myself to blame.
    Question;How can you be busy watching cricket?!! lol.
    Argh, same boat. Knew this was coming at some point - it was always a case of - yes yes I'll get around to buying some.

    Wonder where it will settle...

  4. #324
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    Quote Originally Posted by Snoopy View Post
    Yes, and that means on 28th February 2014, LPC will receive a cash payment of $4.40 per share.
    So at $2.65 on the market you are paying 60c to get one dollar's worth of assets, plus you get the whole of Lyttelton Port thrown in for free! Suddenly looks very cheap at $2.65 doesn't it? But not withstanding the above, this is the bit of the announcement that I like:

    "LPC is looking to put in place contract works insurance cover (including earthquake cover) for the rebuild programme. Work is progressing on the rebuild of Cashin Quay 2 and the Company expects to be able to fully insure this asset (including for earthquake) when the reinstatement is completed. It is anticipated that as the overall programme progresses, all assets will be able to be fully insured."

    SNOOPY
    But Snoopy, aren't LPC going to use that money to repair the port? It's not like you are going to get special dividends?

  5. #325
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    Quote Originally Posted by noodles View Post
    But Snoopy, aren't LPC going to use that money to repair the port? It's not like you are going to get special dividends?
    I know that Lyttelton Port will need all of their insurance payout to build the new port they need. But if you believe even half of the problems the Christchurch City Council are going to have bridging the gap between insurance payouts and fixing up their other infrastructure, I wouldn't totally rule out a raid on the LPC piggy bank. Small shareholders would get their hands on their fair share of any special dividend declared.

    In more general terms Noodles, no I do not expect $4.40 per share in insurance payments to be realizable in cash for shareholders. But NTA is one measure by which companies are valued. With a fully rebuilt port and NTA at $4.40, it would be hard to look from afar at a key infrastructure asset and think it worth less than the cost of rebuilding that key asset.

    SNOOPY
    Last edited by Snoopy; 20-12-2013 at 09:32 PM.
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  6. #326
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    Quote Originally Posted by Snoopy View Post
    I know that Lyttelton Port will need all of their insurance payout to build the new port they need. But if you believe even half of the problems the Christchurch City Council are going to have bridging the gap between insurance payouts and fixing up their other infrastructure, I wouldn't totally rule out a raid on the LPC piggy bank. Small shareholders would get their hands on their fair share of any special dividend declared.

    In more general terms Noodles, no I do not expect $4.40 per share in insurance payments to be realizable in cash for shareholders. But NTA is one measure by which companies are valued. With a fully rebuilt port and NTA at $4.40, it would be hard to look from afar at a key infrastructure asset and think it worth less than the cost of rebuilding that key asset.

    SNOOPY
    Perhaps they can use all that additional NTA to load up on debt and pay higher dividends.

    Normally I buy shares on profit expectations. I don't see anything to get excited about there.

  7. #327
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    Quote Originally Posted by noodles View Post
    Perhaps they can use all that additional NTA to load up on debt and pay higher dividends?
    They could, but they won't. At least I hope they won't, with so much construction work to do.

    Normally I buy shares on profit expectations. I don't see anything to get excited about there.
    You have to look long term Noodles, with what LPC are doing with the growth in log and container freight. Plus think about all those raw materials coming across the docks to assist the ChCh rebuild. I think the operational picture shows real improvement promise, but don't get too excited about the operational performance of the upcoming FY2014, even if those insurance payments cause headline profit to rocket.

    SNOOPY
    Last edited by Snoopy; 20-12-2013 at 10:36 PM.
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  8. #328
    Senior Member Marilyn Munroe's Avatar
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    Default Otago to consider options

    "David Faulkner, chairman of Port of Otago, said the southern port would look at options around the ownership of the LPC shares at a board meeting in early 2014. "

    Source: News item on stuff.co.nz

    Long suffering Otago ratepayers might catch a break. If they offered the shares at a price which allowed buy-in to the port sector cheaper than Port of Tauranga they would be eagerly taken up.

    Boop boop de do
    Marilyn

    PS. Snoopy's comments about the log trade. Log trade is fickle, It would only take a change of policy by the mandarin in charge of log imports into China to bring the trade to its knees. The log yard is chocka with product. Go to the LPC web site and follow the, web cam --> log yard, link.

  9. #329
    percy
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    Quote Originally Posted by noodles View Post
    Perhaps they can use all that additional NTA to load up on debt and pay higher dividends.

    Normally I buy shares on profit expectations. I don't see anything to get excited about there.
    I brought my bid back to $2.75.A lot of people ahead of me.
    The insurance payout will mean LPC can resume dividend payments, and rebuild the port.They will also have the capacity to carry debt,with a very strong balance sheet.
    However POT have proved themselves to be lot better operators,and with POT running Timaru LPC face strong competition.The recent bottle neck at LPC means LPC are not offering good service.Today, and in future they will need to offer excellent plus service.Maybe the best way forward is for ChCh City Holdings to sell out,?

  10. #330
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    Quote Originally Posted by Marilyn Munroe View Post
    "David Faulkner, chairman of Port of Otago, said the southern port would look at options around the ownership of the LPC shares at a board meeting in early 2014. "

    Source: News item on stuff.co.nz
    Another reference in the ODT

    http://www.odt.co.nz/news/business/2...s-hit-new-high

    -------

    Port Otago, which does not have a director on LPC's board, has maintained it wanted to hold the stake long-term.

    However, Mr Faulkner said given a gain of almost 40% on the shares, the Otago board would consider the holding when it met in early February for its annual strategy meeting.

    ''We'll have to look at our options then ... to hold or sell,'' Mr Faulkner said.

    <snip>

    The Christchurch City Council is the majority shareholder of LPC, with 75%, and would appear to be the logical buyer. Mr Faulkner said Port Otago would, in February, consider whether to initiate negotiations with the council.

    ''At around $3 per share, that's what'll be under discussion.''

    ------

    This is a disaster for minority LPC shareholders. If the Dunedin City Council sell out to the CCC it is game over as we will all be compulsorily acquired! And the starting point for negotiation is to offer the shares at $3, when the cash in the bank adds up to $4.40? Come on!

    SNOOPY
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