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28-03-2011, 12:14 PM
#311
I agree Mini, people are not lining up to purchase at 0.03, there are however plenty of sellers, in fact 1.2M of sellers and only 150,000 of buyers, hard to see this share holding at 0.03 for much longer. ALF at an all time low of 0.011, Geneva has just traded at 0.02 which is also an all time low and NZF is at an all time low. Anyone seen that Finance Company bull of a few years ago??? Interesting reading the comments at the start of the SCF thread from a few years back when words like "Quality" & "Conservative" etc were in abundance, how the mighty have fallen.......
Last edited by Tony Two Gloves; 29-03-2011 at 03:34 PM.
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31-03-2011, 12:50 PM
#312
It looks like NZF have sold their shareholding in Finance Direct, I think this is a good move as they don't have the expertise in the consumer finance area. The bad news is they would have taken a bath on the price, but it least it will put some badly needed cash back in the bank and they would have learnt a lesson - stick to your knitting !!
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31-03-2011, 01:17 PM
#313
Member
TTG, where did you get that information from
Originally Posted by Tony Two Gloves
It looks like NZF have sold their shareholding in Finance Direct, I think this is a good move as they don't have the expertise in the consumer finance area. The bad news is they would have taken a bath on the price, but it least it will put some badly needed cash back in the bank and they would have learnt a lesson - stick to your knitting !!
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31-03-2011, 01:35 PM
#314
Look on the Companies Office site for Finance Direct Ltd.
Removed Share Allocation
552410 Shares
NZF GROUP LIMITED
88 Broadway, Newmarket, Auckland
Amended Share Allocation
Previous:
236746 Shares
Tania Kim CROAD
Wayne Darrin CROAD
Updated:
789156 Shares
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
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31-03-2011, 01:52 PM
#315
Member
Yes, good move as there is not much scope for small finance companies with all the compliance requirements and costs, I understand FDL are primarily broking these days!
Originally Posted by Enumerate
Look on the Companies Office site for Finance Direct Ltd.
Removed Share Allocation
552410 Shares
NZF GROUP LIMITED
88 Broadway, Newmarket, Auckland
Amended Share Allocation
Previous:
236746 Shares
Tania Kim CROAD
Wayne Darrin CROAD
Updated:
789156 Shares
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31-03-2011, 02:25 PM
#316
I agree, small Finance Companies using a debenture funding model will find it near impossible to attract retail deposits. That on top of the compliance costs would make it near impossible to be profitable unless you had a significant book or large amount of equity. Finance Direct has neither of these.... I have had Debenture stock with them in the past but would not do so again espically now as they do not have a much larger parent supporting them. Not sure what the plan will be for them in light of funding issues I suspect they will continue to broker loans and wind the book down to the point they can cancel their Prospectus.
As to where I get my info.......Enumerate is on to it !! and of course a couple of well placed sources
Last edited by Tony Two Gloves; 31-03-2011 at 02:45 PM.
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31-03-2011, 02:52 PM
#317
Member
Then you are probably aware that what I have elluded to in the past is coming to fruition1
Originally Posted by Tony Two Gloves
I agree, small Finance Companies using a debenture funding model will find it near impossible to attract retail deposits. That on top of the compliance costs would make it near impossible to be profitable unless you had a significant book or large amount of equity. Finance Direct has neither of these.... I have had Debenture stock with them in the past but would not do so again espically now as they do not have a much larger parent supporting them. Not sure what the plan will be for them in light of funding issues I suspect they will continue to broker loans and wind the book down to the point they can cancel their Prospectus.
As to where I get my info.......Enumerate is on to it !! and of course a couple of well placed sources
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31-03-2011, 02:58 PM
#318
http://www.nzx.com/news/4832824/Fish...jich-Kiwisaver
Huljich exits Kiwisaver ... he could probably buy all of NZF for a fraction of what he is likley to get from this sale.
Very interesting development.
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
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31-03-2011, 03:00 PM
#319
Member
2.9 ¢
(nzd) 0.1 3.3%
31/03 13:28 nzt
2.9 2 2.9 2.9 2.9 2.9 100,000 $2,900
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31-03-2011, 03:17 PM
#320
I get the feeling that the Huljich move and the Finance Direct resolution signals some significant changes for NZF.
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
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