MHJ - Michael Hill International.

[Jay]

I thought he had shelved the idea of increasing his stake a few weeks back

[h2so4]

MHI jumped up from around 71c on 7th october to 82c today, a climb of about 17% in 3 weeks. I'd love to blame my valuation affecting the markets, but the only time I affect the markets is either when I buy (and prices drop like a stone) or when I sell (and prices climb like the space shuttle). Anybody got any thoughts as to the timing of the climb?

cheers
Greg

People getting excited about increased sales figures as announced.

SP seems to have settled back down again.

[Hoop]

Jewellery magnate Michael Hill challenged "wimp shareholders" yesterday to sell their stock if they were only in the company for short-term gain...

"Hoop the Wimp"

MH should be proud I took his advice and sold out.. ........................ for a nice profit

but

If it breaks up over 84c..... "I'll be back" quote The Terminator (1984)

[CJ]

Nope. It went to the AGM .... http://www.directbroking.co.nz/direc...spx?id=2647212 ... relevant bit:

5. " That shareholders approve for the purposes of the Takeovers Code,
the consolidation of the Hill Family shareholdings in the Company into a
single entity through the transfer of the holdings of the Quinten Trust,
Michael Hill International Share Trust and the Boxer Hill Trust to Durante
Holdings Pty Limited ('Durante') being an entity wholly owned by the Boxer
Hill Trust, in the manner set out in the Explanatory Notes"

That is just consolidating their holdings, not increasing the %.

With the company tax rate being lower than the trust tax rate, this could be as simple as a tax efficient holding structure. I am sure the Hill family dont need the dividend income stream for day to day living so retaining in a company makes sense.

[Hoop]

You'll be back. Only the broker (and maybe a long term holder that bought) made any money out of your trade ...

I wonder what the NZX regulatory committee made of MH's comments ... Are AGM comments considered to be NZX approved "market announcements"?

Must admit Belg...MHI wasn't not one of my better portfolio holdings and it wasn't that big a portfolio holding about 4% which really is an useless holding if you are after cap gain. ..tentatively bought in during a mental implosion just after New Year 2010 thinking the good news at 68c + a possible dividend increase + the thought that the overall NZX market was going to keep rising up (a rising tide raises all boats)...however the plan went awry the NZX fell..nearly pushed the bail out button on many occassions but the tight trading pattern kept me in...not much else around + I had cash at hand then...

Didn't buy anymore on the recent 72c symmetrical triangle breakout because I'm so over MHI shares... it briefly paused at 80c giving me an "out"...reason:.. I'm now 99.5% in the market and I really need cash in a hurry to buy another share I'm interested in.....yeah made 12c/share + a couple of Dividends 1.5 + 2.5 = 4c/share and my brokerage didn't eat much cap gain ..so no disaster Belg made 16c/s (maybe 15c/s) on an outlay of 68c/s
But if MHI goes over 84c may be tempted to cull something else in my portfolio and re-enter if there is not much else around at that time..who knows

[ratkin]

Partial takeover at 90c.

How much of the recent price rises can be attributed to people in the know?

90 cents not enough to have me running for the exits , but a vote of confidence for the stock that
Mr Hill wants more shares in his own comaany

[Silverlight]

How much of the recent price rises can be attributed to people in the know?

Not really in the know, the market has been expectating something since the Hill family made their intention known in August.

[blackcap]

But the price was 70 cents then... its moved a lot lately on little or no news while the markets in general have been moving sideways. I bought some more at 70 a while back and am now wondering if I should ditch some of them....

[CJ]

Why give him 50% control for only 90c.

[moimoi]

Exactly CJ...and even more so when in august the CEO was quoted in the NZHerald that their movement then had nothing at all to do with wanting majority control.(or words to that effect).