Ebos Limited EBO

[winner69]

Was not me.!!! lol.
Interesting noting it was companies controlled by directors Peter Kraus and Barry Wallace,who sold the 5mil shares.
Kraus was the original controlling director, having brought EBO off Brierley Investments.
Kraus stood for re-election,and was successful on Tuesday.Never says much, but has had a huge influence on Ebos's success.
Maybe this will be their last terms as directors.

Hmm - interesting Barry Wallace and Peter Kraus reduced their stake as the share price trades near record highs.

You been shareholder for as long as them Percy

Not thinking of selling as well are you?

[percy]

Hmm - interesting Barry Wallace and Peter Kraus reduced their stake as the share price trades near record highs.

You been shareholder for as long as them Percy

Not thinking of selling as well are you?

All a long time ago.
Peter Kraus took control in about 1991,and has supported the company since them.He took the bold step of rewarding Mark Waller on results.
I think I brought in about 1992/93, when the market cap was under $3mil.The first agm I attend was held in their boardroom, had the board and either 10 or 12 shareholders present.At the end of the meeting I remember a serving hatch opened up, and the then chairman Jamie Maddren, poked his head through it, and asked "who would like a cup of tea".?
I think Barry Wallace was a neighbour of Peter Kraus's and he joined the board in 2001.
I had a "fair" holding in EBO, and over the years sold down.A couple of years I decided I wanted a "fair" holding again, and used profits from successful Aussie specs to do so.At present time I have no intention of selling any EBO shares.
As well as Kraus and Wallace,the rest of the board is very impressive,with Sarah Ottrey,Elizabeth Coutts,Stuart Mcgregor and live wire Peter Williams ,all now being led by new chairman Mark Waller.
I did spend time talking to Peter Williams and Patrick Davies after the meeting.Both are very interesting people,and their enthusiasm is infectious.!

[h2so4]

Great story percy. Like

[percy]

Great story percy. Like

Don't encourage me.!!
Background,Former Canterbury Cricket captain Maurice Ryan was a director/manager with Ebos.He was friends with ChCh's one and only hard case investor Ian Urquhart.Ian was very furgal,possibly extremely frugal.Rode a bike and took his own sandwiches to work.Always wore Jandals.Director Jamie Maddren drove a nice Jag while CEO Mark Waller drove a Porsche.
Well one of the resolutions was for an increase in directors' fees.When Ian stood up to talk we knew we were in for fun.First of all Ian spoke that he had shares in a number of other companies [first laugh as Ian had shares in a great number of companies],said all the directors it those companies earnt a lot less than the Ebos directors,and noting the directors did not drive Cortinas [second laugh]he thought what they were paid a present was good enough.
After the meeting there was a lively discussion between Maurice Ryan and Ian [great friendsMaurice actually got Ian to invest in EBO]as to whether Ian had brought the shoes he was wearing from the Salvation Army,or had he dived into one of those clothing bins and helped himself.I seem to remember every one had an opinion and joined in the discussion.
Ian was a wonderful investor.I rang him one time,because I was unsure of something about EBO,and he spent a lot of time explaining and helping me.He certainly added a wealth of colour to any agm.

[Snow Leopard]

There was the all-time closing high of $14 on 21-Oct and then we hit a low of $13.55 on 29-Oct and since then the price has been creeping back up and, importantly, the volume is strong.

Now I was expecting all this to be a bit of a one, then two, month wonder and was hoping to add a few more thousand shares to the portfolio, but it ain't coming down.

I think it is a good company - but at this price?
What am I missing?

Best Wishes
Paper Tiger

PS: You will understand that my feelings with regard to the high share price are somewhat mixed.

[percy]

I love it.
My $20 target price just needs another two years of 20% SP growth.
And I am holding myself [and all my EBO shares] at the ready.
You could say "I am very well positioned."

[winner69]

Acquiring Red Seal for $80m and the good old EPS accretive trick as well (if funding from debt you would hope so eh)

At this rate you never know Blackmores might be the next big target

Then Ebos a $1,000 share

[percy]

Although it is only a small acquisition at $80mil it is a splendid fit for Ebos,giving them ownership of an excellent brand in Red Seal.
Ebos's logistics, distribution and marketing expertise will see Ebos develope Red Seal, so it reaches its full potential.Being in the health supplement field the margins should be good.

[kiwidollabill]

Interesting..... the Hilkes (previous owners of red seal) have done well out of this.

One of Red Seals largest SKUs is jars of molasses - exported to China...

[Snow Leopard]

Little piece from stuff.co.nz.

Maybe they should buy Comvita next ?

Best Wishes
Paper Tiger