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Thread: KMD - Kathmandu

  1. #831
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    Still just the preliminaries, winner.

    Love a good takeover tussle. In the old days I made a habit of buying into these. Generally there were good odds on the first offer not being the last!


  2. #832
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    Quote Originally Posted by winner69 View Post
    Go Team Briscoe, stick it to the dreamers at Kathmandu

    Good response but not pointed enough,stronger language next time please. PM me and I'll point you to a real response rubbishing a crappy company defending a takeover

    https://www.nzx.com/companies/BGR/announcements/268091
    Entertaining stuff isn't it mate. For my money I'd back Duke's assessment of the situation any day of the week and twice on a sale day. I think Duke will get his boots filled and will have his hands very full turning around some intransigent management thinking in KMD. I wish him luck...if anything I think he's paying too much for a tired old brand with a cost structure that's simply too high for today's market. I won't buy either company at present prices.

    http://www.sharechat.co.nz/article/e...ptimistic.html
    Last edited by Beagle; 07-08-2015 at 03:51 PM.

  3. #833
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    That guidance from KMD implies a Gross Margin of 67% of sales over the 2nd half of the year

    Highest ever for any period ever by looks of it. First half of year was 55% but we know they stuffed up big time. Half 2 last year was 62.6%,

    Astounding recovery .... if sustainable valuation should be $3 plus .... but then they stuff it all up by forecasting reduced margins next year .... go figure

    hmm
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  4. #834
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    KMD directors are dreaming mate. Look where the currency is. Duke is dead right and KMD would be plumbing new lows if it were not for his offer. Probably lower than the lowest in the last 12 months which is $1.25. Maybe $1.00 without Duke's offer ? You never pay for value you create yourself, Duke knows that. KMD directors out too lunch ?

  5. #835
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    We will have to agree to disagree on this stock Roger, personally I believe it would only take a good year to bring it back to a $3 stock so not happy to sell for peanuts and take a loss.

  6. #836
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    Quote Originally Posted by couta1 View Post
    We will have to agree to disagree on this stock Roger, personally I believe it would only take a good year to bring it back to a $3 stock so not happy to sell for peanuts and take a loss.
    Of course, you could always accept the offer and transfer your current paper loss to something with better prospects of recouping that loss - such as Briscoes/KMD. If you thought that had better prospects of success.


  7. #837
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    Quote Originally Posted by macduffy View Post
    Of course, you could always accept the offer and transfer your current paper loss to something with better prospects of recouping that loss - such as Briscoes/KMD. If you thought that had better prospects of success.

    Food for thought but unless Duke ups his offer I can't see this deal seeing the light of day.

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    Quote Originally Posted by couta1 View Post
    Food for thought but unless Duke ups his offer I can't see this deal seeing the light of day.
    With all due respect, what you paid for the KMD shares is not that relevant to what they are worth today, or might be worth in the future, or how you assess an offer of $1.80

    The real question KMD holders should be asking themselves is, given their personal investment timeframes, which strategy is likely to yield the best return. Effectively that is a question of whether you think that the KMD board can define and execute a strategy better than Rod Duke can.

    Personally, my money would be of Rod at the moment, and you would have to agree with his assertion that without his offer on the table KMD would not be trading anywhere near $1.80 today. I mean you could say that he has already returned KMD holders more that 25% since he made the offer.

    (Discl. Long term BGR holder not 100% convinced I want to inherit KMD ownership)

  9. #839
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    Quote Originally Posted by couta1 View Post
    We will have to agree to disagree on this stock Roger, personally I believe it would only take a good year to bring it back to a $3 stock so not happy to sell for peanuts and take a loss.
    Mate, get on the ANZ securities website and bring up a chart for the last few years of KMD and BGR and ask yourself this honest question.
    Who has the runs on the board and has earned respect in the retail sector...anyone can talk, look who's actually delivered the results for shareholders.
    KMD make good gear but its been a poorly managed company.

    The ask yourself this question. What's going to happen to the KMD SP when Duke's offer has run it's course

    Final question...would you like more losses to go with your existing ones this year ? If not, back the man that delivers results, not the directors that deliver excuses.

    This post can be summed up with the saying "Talk is cheap". Buy proven results, not B.S. promises and talk. The takeover will run its course and Duke will get plenty to add to his current 20% and there will be blood on the floor at head office with massive personnel changes, you mark my words.
    Last edited by Beagle; 07-08-2015 at 05:53 PM.

  10. #840
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    Quote Originally Posted by Roger View Post
    Mate, get on the ANZ securities website and bring up a chart for the last few years of KMD and BGR and ask yourself this honest question.
    Who has the runs on the board and has earned respect in the retail sector...anyone can talk, look who's actually delivered the results for shareholders.
    KMD make good gear but its been a poorly managed company.

    The ask yourself this question. What's going to happen to the KMD SP when Duke's offer has run it's course

    Final question...would you like more losses to go with your existing ones this year ? If not, back the man that delivers results, not the directors that deliver excuses.

    This post can be summed up with the saying "Talk is cheap". Buy proven results, not B.S. promises and talk. The takeover will run its course and Duke will get plenty to add to his current 20% and there will be blood on the floor at head office with massive personnel changes, you mark my words.
    Somewhat blunter than I put it.

    In some ways, it would be fun to see the bid fail, and have Rod as a large KMD shareholder!!

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