JWI - Just Living Group (Just Water International)

[Joshuatree]

I didn't say that they should be "special " those are your words. Falkensteins lack of disclosure as gaynor points out is putting himself AHEAD of shareholders . Snouts in the trough.

[Chaowee88]

I didn't say that they should be "special " those are your words. Falkensteins lack of disclosure as gaynor points out is putting himself AHEAD of shareholders . Snouts in the trough.

You take the good with the bad, such is the way of public companies when you have one person as the majority holder, especially small cap stocks. It the risk you take when you invest into micro-caps.

[Joshuatree]

Risk you take with all size companies. Excessive free options, shares, int free loans, Imordinate salary increases, oversize golden parachutes eso when resigning after poor management i.e. rewarded for stuffing up., low thresholds for bonuses etc; withheld info; it still happens but not as bad as before with tightening up of regs. Great management who look after their shareholders are a minority; fact.

[Chaowee88]

Risk you take with all size companies. Excessive free options, shares, int free loans, Imordinate salary increases, oversize golden parachutes eso when resigning after poor management i.e. rewarded for stuffing up., low thresholds for bonuses etc; withheld info; it still happens but not as bad as before with tightening up of regs. Great management who look after their shareholders are a minority; fact.

Not so much so with larger cap firms as there is a greater spread of shareholders, retail/institutions, this generally keeps management on their toes.

[Joshuatree]

Good point chaowee88.

Its well known that many water companies just use tap water with or without a filter. iIdon't have a prob with that.Most tap water (in NZ) thati drink i have total confidence in. But i think sterilising ,purifying it with a good malt whisky is great idea

[GTM 3442]

I have learnt from experience that turnarounds usually take longer than 2 years - more like 3 to 5 years, if at all.

The last half of 2012 looked promising - as if the drought had broken.

But then a steady trickle-down; when I was waiting for the dam to burst.

[Beagle]

Hello, everyone my first post. This company lacks coverage but has cut costs, improved profitability, surprised to see the share price still languishing. P/E of 4.1 currently with the share price at 10C. New CEO now with Tony now director, Ian at the helm and fair bit of restructuring, sounds like a fresh new start with a fairly new balance sheet, debt down to 12.9 million. Next year could be defining with potentially a dividend comin for the first time in 5 years (Management stated equity ratio of 40 - 60 before restarting dividenda and they a close to that).

I think you may have been partially instrumental in flushing out this take-over offer. Any way you slice and dice this thing, while you've made good money its been a miserable sad and lonely road for the vast majority of minority shareholders. I wonder how for example those who paid up for the rights issue in 2008 at 40 cents are feeling ? Hardly a generous offer from Falkenstein. I would have thought a minimum of 20 cents would have been appropriate and well supported by the improving fundamentals.

[Balance]

I think you may have been partially instrumental in flushing out this take-over offer. Any way you slice and dice this thing, while you've made good money its been a miserable sad and lonely road for the vast majority of minority shareholders. I wonder how for example those who paid up for the rights issue in 2008 at 40 cents are feeling ? Hardly a generous offer from Falkenstein. I would have thought a minimum of 20 cents would have been appropriate and well supported by the improving fundamentals.

A measure of what kind of person Tony Falkenstein is and how JWI is run was glaringly illustrated when a director was appointed a few years ago and quit within 2 weeks.

The guy is no good as a creator of wealth for minority shareholders - been like that since his days of Zee Watch.

[Chaowee88]

I think you may have been partially instrumental in flushing out this take-over offer. Any way you slice and dice this thing, while you've made good money its been a miserable sad and lonely road for the vast majority of minority shareholders. I wonder how for example those who paid up for the rights issue in 2008 at 40 cents are feeling ? Hardly a generous offer from Falkenstein. I would have thought a minimum of 20 cents would have been appropriate and well supported by the improving fundamentals.

Yep, before I brought, when I valued this I thought it worth around 18 - 20 per share, offer is slightly lower than what I hoped but I'm happy having made the right call on this one.

Agree with you

[Chaowee88]

Yep, before I brought, when I valued this I thought it worth around 18 - 20 per share, offer is slightly lower than what I hoped but I'm happy having made the right call on this one.

Agree with you

Not sure who but someone is buying up JWI at 15 today, how does he expect to make a return?

Expect Tony to increase his offer?