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  1. #321
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    I would impressed if anyone actually knows what this release means precisely. Good old NZX wondering why the retail investors stay away from the market yet they insist on allowing messages to the market to be in cryptic mumbo jumbo language. I cannot think why other than nobody can be bothered in redesigning the forms to make them useful!



    MHI
    21/02/2011 08:30
    RELINT

    REL: 0830 HRS Michael Hill International Limited

    RELINT: MHI: Ongoing Disclosure Notice (Leslie Wayne Peters)

    DISCLOSURE NOTICE

    Disclosure of Directors and Officers Relevant Interests
    (Section 19T, Securities Markets Act 1988)

    A. Disclosure obligation (tick box to note which disclosure
    obligation applies)
    Initial disclosure (complete Parts A, B, C, D, F, and G of this notice)
    Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) X

    B. Preliminary
    1. Name Leslie Wayne Peters
    2. NZX company code of issuer MHI
    Name of issuer Michael Hill International
    3. Name of related body corporate (if applicable) N/A
    4. Position you hold in the issuer Director
    5. Date of this disclosure notice 18/02/2011

    C. Nature of relevant interest
    6. Name of registered holder(s) of security (as required by regulation
    6A(b) or regulation 7(b)) Funds under management
    7. Class and type of security (as required by regulation 6B or regulation 8)

    Ordinary Shares
    8. Nature of relevant interest in security (as required by regulation 6A (a)

    or regulation 7(a)) Non-Beneficial

    D. Date (for initial disclosure)
    9. Date of disclosure obligation (as required by regulation 6C) N/A

    E. Transaction (for ongoing disclosure)
    10. Date of last disclosure (as required by regulation 13) 24/02/2010
    11. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9)
    18/02/2011
    12. Number of transactions (as required by regulation 12(2), if applicable)
    1
    13. Nature or type of transaction (as required by regulation 11(1)(a))
    Termination of management
    of client account.
    Control and voting rights over
    shares relinquished.
    14. Consideration (as required by regulation 10) N/A
    15. Number of securities held prior, set out by class and type (as required
    by regulation 8) 46,618,500
    16. Number of securities subject to acquisition or disposal (as required by
    regulation 11(1)(b)) 644,000

    F. Extent of relevant interest
    17. Number of securities held now, set out by class and type (as required
    by regulation 6B or regulation 8) 45,974,500
    End CA:00205814 For:MHI Type:RELINT Time:2011-02-21 08:30:13

  2. #322
    Senior Member kizame's Avatar
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    Tauranga, , New Zealand.
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    Agreed! they are absolute crap,why can't they just simply state someone bought or sold such and such amount of shares and be done with it,simple small memo would do.
    Not a fan of Mark Weldon at all,he's a puppy,licking heals.

  3. #323
    Adventurer Silverlight's Avatar
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    Quote Originally Posted by _Michael View Post
    Good old NZX wondering why the retail investors stay away from the market yet they insist on allowing messages to the market to be in cryptic mumbo jumbo language.
    To be fair on NZX, the MED are the ones who design the forms, NZX is just the medium for them to be released.

    Agreed they are not as clear as they could be.
    ~ * ~ De Peones a Reinas ~ * ~

  4. #324
    Senior Member
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    Auckland, , New Zealand.
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    From Sharechat news:

    Partial takeover of Michael Hill unconditional


    Monday 28th February 2011
    Text too small?
    The Hill family's partial takeover offer for jeweller Michael Hill International (MHI) has become unconditional, with acceptances exceeding the number of shares sought.
    Late last year it was announced that Durante Holdings, an Australian company set up to consolidate the holdings of shares in MHI held by the Hill family through family trusts, wanted a controlling stake in the company.
    Durante, a wholly-owned subsidiary of one of the Hill family trusts, owned 47.6% of shares in MHI when the offer was made. It sought to buy 5% of the shares it did not already own to take its holding to 50.2%.
    Today, Durante said that as at 10.30am it had received acceptances for 12.14 million shares, more than the 10.03 million it wanted.
    All the requirements of the offer, which closes today, had been met and was now unconditional, Durante said.
    As a result of acceptances exceeding the number of shares sought, scaling would be undertaken.
    ------------------------------------------------------------------------
    Maybe the shareprice may recover a bit now or maybe not!

    Disc: Did not sell any of mine - Long term Portfolio
    Last edited by Jay; 01-03-2011 at 09:56 AM. Reason: seplling

  5. #325
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    dunedin, , New Zealand.
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    I reckon 92 was the breakthrough. Loving 93.
    Can it be sustained or, more to the point, be built upon?
    The RSI aint much, but macd all positive. Can anyone find an OBV please?
    Fingers crossed. Cheers

  6. #326
    Junior Member
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    OBV looks good. This indicator is available free on FinData.co.nz website, select products then charting, it is not the easiest to read but its free!

  7. #327
    Advanced Member
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    Default Chart Update.

    Quote Originally Posted by scamper View Post
    I reckon 92 was the breakthrough.
    Sure was. Seven times MHI tried and failed to break the resistance at 91 cents, with the breakout finally coming over a week ago. Since then, this broken resistance has now become support (light green arrow) just as the book says it should.

    Quote Originally Posted by scamper View Post
    The RSI aint much...
    It looks pretty good to me - had you noticed the recent Bullish Divergence?

    Quote Originally Posted by scamper View Post
    ... but macd all positive.
    I wouldn't place too much reliance on that, Scamper. As a longterm "Buy and Hold" MHI has appreciated at an average of 33% pa. Trading it using MACD signals would have returned just 5.8% pa. Only 1 in 3 MACD signals lead to profitable trades - now that ain't much!

    MHI has been in a narrow 86 - 91 cent trading range for months. We should not be too surprised that this eventually broke to the Upside for the following reasons :-
    (1) Trading ranges formed after an uptrend are usually a consolidation pattern in that 70% of them break to the upside.
    (2) The OBV continued to rise even though the price did not. MHI was being accumulated.
    (3) The RSI(14) (default value) had triggered a Buy signal and had made a Bullish Divergence.


  8. #328
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    As usual, many thanks, phaedrus.
    I not at all sure of the parameters and significance of divergences in the rsi. would love an explanation when you've time.
    The obv sure is marvellous. thank you for the web site link, evander.
    cheers, scamper.

  9. #329
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    Quote Originally Posted by Phaedrus View Post
    (1) Trading ranges formed after an uptrend are usually a consolidation pattern in that 70% of them break to the upside.
    Where do you get your % figures from? Is it based on past testing you have done yourself or from books or elsewhere?

    Thanks

  10. #330
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    That particular one came from Bulkowski's Encyclopedia of Chart Patterns. (A really good book!)

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