MET - Metlifecare - one for the fundies?

[bottomfeeder]

Have dipped my toes in the MET water. Only 1500 at $3.69. I can see this as a long term hold till the eventual takeover at $5.50.

[dreamcatcher]

Have dipped my toes in the MET water. Only 1500 at $3.69. I can see this as a long term hold till the eventual takeover at $5.50.

Still may have a 7 until MET management advises otherwise

[Balance]

Have dipped my toes in the MET water. Only 1500 at $3.69. I can see this as a long term hold till the eventual takeover at $5.50.

3 potential bidders with one having done full due diligence - yup, I think we will see a takeover within the next 12 months if the sp remains below $4.50.

[crighton100]

Hi all,I live in a Metlife village { & own shares,only recently] I can tell you its like living in Colditz 13 since the lockdown,they are bending over backwards to look after us old farts,we do not leave the village [have changed all the exit gate locks],they have security on the only gate entrance & absolutely no one gets in [including family] or out unless an emergency.They do all the shopping for the residents & deliver to your door [its like being on a cruise ship only you have to cook for yourself].There is information given to us everyday as to what is happening & what we cannot do [which is basically stay in your unit].Its really not that bad. And if you are really lazy the kitchen will deliver meals at a price off course.Have to say I am really impressed with the way they have handled the situation & think the shares are really underpriced.Just thought an insite into the village life at this time would help you make some sane purchases.Have a great day,into the wine now [thats the luxury of retirement].

[psychic]

Thanks for that Crighton, good to hear.

[Balance]

Thanks for that Crighton, good to hear.

Yes, thanks Crighton - very useful.

[hoyinma]

Thank you Crighton. Your input is appreciated.

[peat]

OK guys, Im about to go through this thread, but can anyone post a quick summary of need to knows about etlife? Of course interested in both your valuations but perhpas more so the recent history of take over talk, and any major events. For what its worth, ~5-10 years back I was in both Somerset and Ryman (dont own either any more), and quite keen to explore have some retirement village exposure again.

• Northern NZ centred.
• has had some leaky issues but are not that big a deal really in the scheme of things
• share price foundered and traded closest to NTA of all the retirement stocks.
• lagged behind the others more and more.
• someone noticed it was cheap as chips and accumulated with intent
• traders noticed the build up even though it was camouflaged by SUM other retirement stocks doing very well, as well.
• became common knowledge a bid was coming. around 6 dollar mark.
• Bid came in at 7 , many disappointed.
• Some stayed around for the full 7 to their regret , others even bought more to get the 5% t/o premium
• BOOM COVID19!!
• Much discussion on this thread as to the escape clause , but , as the magnitude of the pandemic became more wide-sweeping it became clear that probably the escape clause was triggered.
• Took a while for this realisation that the Scheme would probably not go ahead to catch on and price stayed surprisingly buoyant but now reflects the new normal for stocks

[Beagle]

3 potential bidders with one having done full due diligence - yup, I think we will see a takeover within the next 12 months if the sp remains below $4.50.

Agreed. Even if nothing happens there's also the company's own share buy-back scheme that was only a small way through before it was suspended and if all else fails you're buying at around half asset backing for a company on a historical PE based on underlying earnings of just 8.25 that's grown underlying eps by an average of 15% per annum for the last 5 years, (faster growth than RYM over the same period).

Its increasingly looking to me highly likely that N.Z. is going to be a relatively safe haven in a world riddled with Covid 19 concerns. Ideal place to retire, some might say.

In my opinion this has, (you're highly likely to get a bloody good feed), written all over it. Disc: I'm quickly getting myself well positioned.

[dompf]

• Northern NZ centred.
• has had some leaky issues but are not that big a deal really in the scheme of things
• share price foundered and traded closest to NTA of all the retirement stocks.
• lagged behind the others more and more.
• someone noticed it was cheap as chips and accumulated with intent
• traders noticed the build up even though it was camouflaged by SUM other retirement stocks doing very well, as well.
• became common knowledge a bid was coming. around 6 dollar mark.
• Bid came in at 7 , many disappointed.
• Some stayed around for the full 7 to their regret , others even bought more to get the 5% t/o premium
• BOOM COVID19!!
• Much discussion on this thread as to the escape clause , but , as the magnitude of the pandemic became more wide-sweeping it became clear that probably the escape clause was triggered.
• Took a while for this realisation that the Scheme would probably not go ahead to catch on and price stayed surprisingly buoyant but now reflects the new normal for stocks

Thanks Peat for the summary.

& thanks Crighton for his on the ground insights enjoy your wine