THL - Tourism Holdings

[winner69]

Shareprice drifting down to near pre-merger price

Enthusiasm for merger on the wane or is something to do with rampaging covid in Australia

State Premiers imploring punters to go on holiday so can't be too bad

[Benny1]

I'm out driving around from Auckland to Martinborough in my Campervan.
Have seen very few rental vans out and about on the roads, seems only the privately owned vans are venturing around at the moment.

[Sideshow Bob]

Market update - thl/Apollo merger - NZX, New Zealand’s Exchange

Following thl’s announcement on 10 December 2021 that it had entered into a conditional Scheme Implementation Deed with Apollo Tourism & Leisure Limited (Apollo) to merge through an Australian Scheme of Arrangement, whereby thl acquires all shares in Apollo (the Scheme), thl wishes to provide an update in respect of the Scheme.

thl understands that, based on information received to date, the preliminary view of the Apollo Board is that they intend to unanimously recommend that Apollo shareholders approve the Scheme, and that the Independent Expert intends to, based on the information it has received to date, conclude that the Scheme is in the best interests of the Apollo shareholders who will be voting in respect of the Scheme, in the absence of a superior proposal.

thl understands that these preliminary views are publicly available. thl notes that the above views are not final and could be subject to change.

A court hearing is scheduled for Friday 18th February with the Supreme Court of Queensland where it is intended that court approval of the final Scheme Booklet is obtained. Following the Supreme Court of Queensland’s approval and subject to the final approvals of the respective Board’s of thl and Apollo, the documentation will be lodged with the Australian Securities and Investment Commission.

thl will provide an update, including a copy of the final Scheme Booklet and an update on the preliminary result for H1 FY22, once that process is complete.

ENDS

[LaserEyeKiwi]

Big news just mentioned in the live health briefing: possibility that self isolation requirements for people entering New Zealand may disappear altogether within the month (minister: “expecting to receive advice on that within the next week or two”)

This would be a significant event for the restart of international tourism into NZ.

[LaserEyeKiwi]

https://www.stuff.co.nz/national/pol...as-cases-mount

Tourism Industry Aotearoa (TIA) spokeswoman Ann-Marie Johnson said it was reassuring to hear the Government was reviewing self-isolation requirements for international arrivals.Having isolation requirements in place meant New Zealand was off the radar for international tourists, she said.

“With the move to phase three of the Omicron response, the rationale for keeping self-isolation rules in place no longer exists,” Johnson said.

TIA was working on an evidence-based case for removing self-isolation requirements and would provide it to the Government as soon as possible, she said.

[Sideshow Bob]

Probably not bad, all in all

thl FY22 Interim Results - NZX, New Zealand’s Exchange

Summary:
•Statutory net loss after tax of $4.4M and ordinary net loss after tax of $2.3M.
•Net debt at $18.7M, providing approximately $232M of headroom.
•Total revenue of $174.9M, down $30.9M on the prior corresponding period (pcp).
•Vehicle sales margins continue to be higher than historical norms. We expect that margins will normalise over time.
•Supply chain and inflation related issues are increasing in intensity with varying impacts by region. These issues influence decisions on the quantum of vehicles we allow for sale.
•Non-tourism business diversity strengthened with Action Manufacturing’s proposed acquisition of MaxiTRANS New Zealand.(1)
•New Zealand and Australian EBIT improved on the pcp with good cost management and ongoing vehicle sales performance, despite the ongoing challenges in the rental demand environment due to border restrictions.
•As previously indicated, USA EBIT declined on the pcp due to the domestic environment in Q1. The rental demand environment is improving into the next high season. Vehicle sale demand and margins continue to perform strongly.
•No dividend declared for the half and it is expected that this will remain the same for the full year.
•On a standalone basis, thl’s result for H2 FY22 (excluding transaction costs of NZ$4.0m that are expected to be incurred in that half) is still expected to be a net loss after tax, however improved on the pcp.(2)

[Lescy]

If you think the apollo-thl merger is a positive, and are happy with the financial metrics of both companies, and are confident the regulatory authorities sign off on the merger .... would you not currently be better to buy shares in apollo rather than thl? Or is this making too many assumptions?

*Apollo currently trading at AU$0.55 , THL currently trading at NZ$2.62 (AU$2.44)
*merger document saying these will translate as: 3.68 ATL -> 1 THL share
*at today's price that means your ATL shares effectively allow you to acquire THL at AU$2.024
I've used AUD as THL intends listing on the asx

[winner69]

ComCom needing more time re Apollo merger ...hmmm

Maybe been too busy touching up the supermarkets report .... but we must see things are all fair in the travel industry

If the merger doesn'y proceed it'll be just be business as usual for thl .... and maybe a blessing in disguise for them

[LaserEyeKiwi]

FYI…international tourists returning to New Zealand in the very near future, official earlier date to be announced this week:

D991681E-2155-4C39-A2C4-8E0923ECE0AB.jpg

[Sideshow Bob]

thl sells Roadpass Digital shareholding for NZ$23.9M - NZX, New Zealand’s Exchange

THL SELLS ROADPASS DIGITAL SHAREHOLDING FOR NZ$23.9M
thl advises that it has today sold its minority shareholding interest in TH2connect, LLC (trading as Roadpass Digital) to its joint venture partner, THOR Industries, for approximately NZ$23.9 million. The sale represents a one-off gain on sale of approximately NZ$1.6 million against the carrying value of the shareholding.