PGC - Licenced to Bank

[percy]

Balance.
Good boy, go to the top of the class.About time some one other than SCOTTY posted some sense. A lot better than some figure off the top of some broker's head.
thank you.

[Xerof]

Good, thanks Balance. Like getting blood out of a stone but finally got something concrete from someone with what seems a very good insight on this group of companies. You certainly either love em or hate em...lol

SCOTTY, you erred to the high side with the P Note when quoting a residual NTA for PGC. Does that also mean you have erred to the low side with the 88 cents NTA figure for BSH, or was that in fact already included?

Has the Vance statement/misquote been corrected yet?

[percy]

Good, thanks Balance. Like getting blood out of a stone but finally got something concrete from someone with what seems a very good insight on this group of companies. You certainly either love em or hate em...lol

SCOTTY, you erred to the high side with the P Note when quoting a residual NTA for PGC. Does that also mean you have erred to the low side with the 88 cents NTA figure for BSH, or was that in fact already included?

Has the Vance statement/misquote been corrected yet?

Xerof,
SCOTTY,Percy and Balances figures,conculsions are all very close .We have been following this unwind for months.I know I have found it interesting and have brought more PGC shares for both mywife and myself.If you follow our posts for a couple of months you will understand we have given it a lot of thought.
Should you have questions about Mr.Vance's statement,ring him,(03)3798420 or toll free 0800 10 40 50 or cannot understand movements of assets phone Bruce Irvine (03)3771956. The only insight we have is published statements,and accounts.If there is more than is published, please share.However broker comments carry very little weight with me.What Irvine has to say would be correct.

[Xerof]

I'll wait for the results announcement due on the 25th and do some DD then. Torchlight etc is all a bit on the darkside for me at the moment. The December update predicted losses all over the place, so will see how it all panned out.

You're right it is interesting, and intriguing. I found some public information yesterday which rang some bells, but am still researching........

disc: don't own, never have, but might.....

[Balance]

Exactly what's going one with PGW explains a large part of the discount. If Agria's bid fails, then PGC haven't as much cash and things change quite a bit.

Agria will get to 50% easily.

The main issue now is whether or not Agrium launches a full bid.

[mouse]

Agria will get to 50% easily.

The main issue now is whether or not Agrium launches a full bid.

I suspect Agrium have to. At 70cents if they are very keen to get the lot. Which then leaves Agria to either bid 80 cents or fail. The present valuation of PGGWrightson is not of major importance since we are in a trough. Hopefully at the bottom of it. So a bit over valuation is on the cards. Or in the stars.

[Jaa]

Ye gods TV3 is showing footage from the PGC building which has completely collapsed. Many still stuck inside. Best wishes to everyone connected with the company.

[climbtree]

I felt horrible thinking about my money as soon as I saw that. I sold all my shares at a loss of $7500 from the original price, but I'm alive so I really can't complain. I hope they rescue a lot. How do you think the market will react? Both PGC and PGW were down 3 cents as soon as I checked.

[Jaa]

NZX should stop trading in the share. Period.

[ETC]

PGC have released a statement: http://www.nzx.com/markets/NZSX/PGC/...stchurch-Staff

It looks like the business has escaped relativily unscathed but there are grave fears for staff.

The PGC building looks like rubble.