NZF Group (NZF and NZF010)

[invessi]

OK, whatever, I guess you must have got burnt but FDL is a very small part of the group so lets keep things in proportion! New financial partner, more RMBS placements and Mike Pero Real Estate is where we appear to be heading!

[blackcap]

Somewhat puzzling to me is managements choice to have Note holders get shares... This will seriously dilute their existing investment and at this point in time the directors are also large shareholders? Theories anyone?

[getontoit99]

MEMORANDUM
To : Market Participants
From : NZX Client and Market Services
Date : January 28, 2011
Subject : Rollover of NZF March 2011 Capital Notes
......

So the memo was sent only to market participants (brokers), and not posted as a general announcement. This explains why investors only found out about the trading halt if they attempted to by or sell the notes.
Trading halts are usually communicated to all and sundry through adding an announcement to the NZX.COM pages covering the halted securities.

[Xerof]

Theories anyone?

It's called Hobson's Choice.....they have no cash to repay holders who would inevitably elect to cash out if given that option.......

[invessi]

Quite simple Blackcap, preserve cash and regretably dilute share value as a means to an end, the company survives and continues to grow through working capital, new partners and drive, they have a very dedicated team who have been together for some time now, thats their culture and thats the difference between them and comparitive companies that have bit the dust!

The major shareholders are in for the long term, so should you be if you want to preserve your investment, the market fallout of the last 2 years and greed do not equate in the current climate!

[Xerof]

So the memo was sent only to market participants (brokers), and not posted as a general announcement. This explains why investors only found out about the trading halt if they attempted to by or sell the notes.
Trading halts are usually communicated to all and sundry though adding an announcement to the NZX.COM pages covering the halted securities.

That is an absolute disgrace - management and the board can't even face up to letting bondholders and current shareholders know the facts.........WTF is wrong with NZX

I trust NZX will be keeping a close eye on share price activity from Monday onwards until March 15th..........plenty of time for price manipulation to advantage current shareholders here........

[Tony Two Gloves]

Invessi you seem to have a very positive perspective on this for a group of business's which clearly have broken business models? I didn't get burnt but there was no way I would roll over and continue to be a debenture investor in FDL or NZF I took my cash, just wish I could do the same with these notes......
How do you link Mike Pero Real Estate to NZF, according to the companies office he is the only shareholder / director, it would appear to having nothing to do with NZF? Mike Pero Mortgages is a totally seperate venture. I think the Real Estate venture will go the same way as the flight simulator business......crash landing !!

[minimoke]

So the memo was sent only to market participants (brokers), and not posted as a general announcement. This explains why investors only found out about the trading halt if they attempted to by or sell the notes.
Trading halts are usually communicated to all and sundry though adding an announcement to the NZX.COM pages covering the halted securities.

This also explains why there is another thread around here somewhere titled "NZX is a Joke". Jeez, people make a fuss about Bernard Whimps low ball offers. How low ball can you get when you kill off trading and not let anyone other than Special People know. Clearly holders are just dross who will get tossed the periodic crumb of cake when they can't release their own bread.

[minimoke]

Mike Pero Mortgages is a totally seperate venture.

Mike Pero spruiked Huljich Kiwisaver which in turn invested heavily in DIl. Don Brash has since resigned from Huljich and Mike Pero have stopped spruiking HWM. HWM were also being spuriked be Matt McCartens Unite Union which represent minimum wagers in Starbucks and call centres.

Mike Pero Mortagages is owned wholly by MPHM Limited which in turn is half owned by NZF and Secure Funding Ltd. SFL is owned by Liberty Financial Pty.

Join the dots

[blackcap]

That is an absolute disgrace - management and the board can't even face up to letting bondholders and current shareholders know the facts.........WTF is wrong with NZX

I trust NZX will be keeping a close eye on share price activity from Monday onwards until March 15th..........plenty of time for price manipulation to advantage current shareholders here........

Plenty of time for that... but which way is it going to go? Down to 1-2 cents.... Issue of 1000 million shares and then pick them up for nothing on market at discounted prices? Or drive price up to 30 cents and preserve stake in the company?

Could be an interesting few trading months ahead...