TWR - Tower Insurance.

**Lizard** · 13-09-2012, 09:14 AM

Damp squib announcement out today... seems like a "well we've got to say something now, I guess" announcement, after last weeks promise of a glimpse into the future was added by the PR department in an attempt to avoid holders dwelling on the past (extra earthquake provisions).

Using a large magnifying glass to try and spot something new written between the lines, I could only guess that there were probably no really good proposals and now they are going to have to work through the options (two?) that they have in front of them to see which one will disappoint shareholders the least. Chairman steps down, as no glory to be had and will be more hard work than he needs...

Anyone got a microscope (or a bugging device under the Board table would do)?

**pierre** · 13-09-2012, 09:24 AM

Agree - pretty tame comments.

Seems the Board think the shares are worth more than the current price but they now need till next Feb to work out how to get the market to agree with them.

So the message is ...hurry up - and wait!

**Hoop** · 13-09-2012, 10:50 AM

Originally Posted by Lizard

Damp squib announcement out today... seems like a "well we've got to say something now, I guess" announcement, after last weeks promise of a glimpse into the future was added by the PR department in an attempt to avoid holders dwelling on the past (extra earthquake provisions).

Using a large magnifying glass to try and spot something new written between the lines, I could only guess that there were probably no really good proposals and now they are going to have to work through the options (two?) that they have in front of them to see which one will disappoint shareholders the least. Chairman steps down, as no glory to be had and will be more hard work than he needs...

Anyone got a microscope (or a bugging device under the Board table would do)?

Yep.. I need a bugging device because my IQ is not high enough to understand what that announcement was all about.

**_Michael** · 13-09-2012, 09:51 PM

Originally Posted by Hoop

Yep.. I need a bugging device because my IQ is not high enough to understand what that announcement was all about.

Glad I am not the only one who thought it was a total non-announcement:

"We have been thinking about some stuff, which we may or may not do"

"We may do nothing"

"Anything we would do would need to make business sense"

Wow guys - thanks for the update!!!

**winner69** · 14-09-2012, 06:12 AM

Originally Posted by _Michael

Glad I am not the only one who thought it was a total non-announcement:

"We have been thinking about some stuff, which we may or may not do"

"We may do nothing"

"Anything we would do would need to make business sense"

Wow guys - thanks for the update!!!

but we are going to make you super rich from creating MORE shareholder value

Heck guys Rob says TWR has outperformed the market since separating from Aust .... you should be pleased .....don't be so greedy ha ha

**Hoop** · 14-09-2012, 07:27 AM

Originally Posted by winner69

but we are going to make you super rich from creating MORE shareholder value

Heck guys Rob says TWR has outperformed the market since separating from Aust .... you should be pleased .....don't be so greedy ha ha

“Please, sir, I want some more.”
― Charles Dickens, Oliver Twist

**winner69** · 14-09-2012, 08:28 AM

Is that chart saying Rob may have been a bit loose with hsi words - red line is NZX50 isn't it

Probably includes the huge divies in his TSR calculations or something

**macduffy** · 14-09-2012, 08:56 AM

"The market" is a bit more than the NZX50, although that's the one most of us would focus on. Perhaps he meant the NZXAllIndex?

**Hoop** · 14-09-2012, 09:16 AM

Originally Posted by winner69

Is that chart saying Rob may have been a bit loose with hsi words - red line is NZX50 isn't it

Probably includes the huge divies in his TSR calculations or something

Hmmm...yeah red line is the NZX50. You can fiddle around with Statistics to prove any point..so somewhere our mate Rob will be proved right...

Yahoo chart data has been proved as dodgy at the best of times. It supposes to be adjusted but I have seen from other examples that this area is suspect so I wouldn't bet my life on it... but the chart does show up a good point or two including TWR up trend.

Using the "add divvies to the share price" argument falls flat if the above chart is accurate as I used the adjustment with NZ50 index (they have divy companies too)