STR - Stride Property [ex DNZ Property]

[Snapper]

You're right, there's probably a lot who would like to sell, whether they do or not is a different matter. When they see the difference between NTA and the trading price they might have second thoughts. I'm happy with what DNZ are doing now and as long as commercial property prices hold up they should be fine. The worry is if valuations continue to fall coupled with 42% debt...there goes the equity.

[fungus pudding]

My mother also has about 2000 shares (left by her brother's will) but she has just sent off the signed letter to Carrington with her share number. At 86 she's happy to get the money on offer. Inquired with DNZ if it was possible to cancel the letter but apparently not, unless Carrington decides to out of their good will, so guess it's not worth the bother.

e cheque.

Cancel the cheque then tell Carrington . Goodwill will be non-existent. That's the fellow Whimp who has made the odd appearance on Fair go from memory and well known for stunts like this. Absolute minimum price will almost certainly be 90 cents + when they float in a week or so.

[fungus pudding]

My mother also has about 2000 shares (left by her brother's will) but she has just sent off the signed letter to Carrington with her share number. At 86 she's happy to get the money on offer. Inquired with DNZ if it was possible to cancel the letter but apparently not, unless Carrington decides to out of their good will, so guess it's not worth the bother.

I have just recieved another unsolicited offer from NZ investment securities whoever he/she/it/they are! (Probably Carrington in disguise, or maybe his mother) This time for 75 cents. Pro-rata share price has been set at 97 cents, so I'm unlikely to be selling those I have just bought for 75 cents. These are due to hit the market on 16th August, so that might be interesting - or not! I could be running around looking for that man with all the 75cent pieces this time next week.

[Snapper]

I thought that 97 cents was quite encouraging. Towards the upper end of the indicated range and considering that the take up by existing holders was only $8.5 million, good support from institutions. Surprised that there was so little support from existing holders, time to get over it and move on, folks!

[CJ]

I thought that 97 cents was quite encouraging. Towards the upper end of the indicated range and considering that the take up by existing holders was only $8.5 million, good support from institutions. Surprised that there was so little support from existing holders, time to get over it and move on, folks!

I think the Insto's needed to buy in for indexing purposes (property index and NZX40 - once updated). Will be interesting to see where they go once listed. With such a big insto take up, they wont need to do it on market.

[fungus pudding]

I thought that 97 cents was quite encouraging. Towards the upper end of the indicated range and considering that the take up by existing holders was only $8.5 million, good support from institutions. Surprised that there was so little support from existing holders, time to get over it and move on, folks!

Most of the investors in DNZ, I'd say the vast majority are elderly retired people whose life savings have been wiped out by this and other Money Managers ****y schemes. I spoke to many of them at last shareholder meeting. Most couldn't afford to buy, and those who could just have no belief left in this outfit. Can't say I blame them. No use telling them to get over it. They never will. They were fitted by the honey-tongued Somers Edgar.

[Billy Boy]

Fungus.... you had better dust off the suit and get on the board !!!
things will be interesting when they list. Am wondering what the NTA
will come in at, when the dust settles ?
We had Money Managers man from Invercargill here trying talk us into
voting for liquadation, some time back. I did'nt like what he was saying.
Edgar-Sommers still has a finger in some "Pies" I am told.
Getting rid of the present management structure will be a big plus for
this company and I am very happy with that. I dont hold a lot of shares
and did not take up the new offer. It's a company with some very good
buildings and could do well. Next task, reduce the debt. Then it will fly
Here's watching.
BB

[fungus pudding]

Fungus.... you had better dust off the suit and get on the board !!!
things will be interesting when they list. Am wondering what the NTA
will come in at, when the dust settles ?
We had Money Managers man from Invercargill here trying talk us into
voting for liquadation, some time back. I did'nt like what he was saying.
Edgar-Sommers still has a finger in some "Pies" I am told.
Getting rid of the present management structure will be a big plus for
this company and I am very happy with that. I dont hold a lot of shares
and did not take up the new offer. It's a company with some very good
buildings and could do well. Next task, reduce the debt. Then it will fly
Here's watching.
BB

I agree that the future looks good. I don't agree with dusting off my suit though - these days it's reseved for funerals, (although if the ones hanging in my wardrobe shrink anymore - I'll have to go to them in a track-suit) I picked up my entitlement and a couple of thousand of the additional allowance, but I doubt that there's much advantage. They will list at the 97 cents but could quickly fall a bit I suspect. I reckon there's heaps of pent up selling pressure. Might take a couple of months to settle. If they do drop a reasonable chunk I'll buy more. But who knows - it's the toss of a coin at hte moment. Not sure of your point about NTA. It should be $1.59 according to the offer statement - or does that not take into account the extra 10 million? Hadn't really considered that.

[CJ]

They will list at the 97 cents but could quickly fall a bit I suspect. I reckon there's heaps of pent up selling pressure.

They seem to be doing quite well - up to 1.18, have broker support (quoted today as the best listed prop company), still at a significant discount to NTA and have just entered the index.

Not sure if it is worthwhile entering at this price but definitely would have been at IPO price.

[fungus pudding]

They seem to be doing quite well - up to 1.18, have broker support (quoted today as the best listed prop company), still at a significant discount to NTA and have just entered the index.

Not sure if it is worthwhile entering at this price but definitely would have been at IPO price.

They have risen quicker than I thought they would, possibly because of Whimp buying up a couple of million (at about 67 cents or so) from the original syndicate holders who obviously didn't understand what was going on. I believe he's dribbling these out at the moment. Also DNZ have offered a brokerage-free service to holders of fewer than 25,000 to get rid of small share-holders. So there's a bit of mopping up to do before share price tightens. NTA is fine, but div. is low. At time of restructure it was estimated at 6.7 (PIE) per share for foreseeable future, although I think there's room to increase that. That would give it a thump up.