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Now that's incredible.
Farm property sold for 20% more than June 2014 valuation.
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Really ?Have you seen the way beef prices have lifted ?
S & B properties have been static for 7 + yrs
Due for a lift now ?
But was quite a lift !
http://www.sella.co.nz/property/rura...rming/169ql9q/
Sheep & Beef finisher so brought for converting to dairy,dairy support or subdivision ?
If take off value of stock $100/SU then $6.5 m & $13000/ha may have been reasonable buying?
I,ve had an order in for REL shares for 6 months but very illiquid & tightly held.Price has lifted considerably & way off the mark on my bid now !
Originally Posted by percy
Now that's incredible.
Farm property sold for 20% more than June 2014 valuation.
Last edited by kiora; 30-11-2014 at 08:21 AM.
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Junior Member
Looks like REL has made some good gains with their Tandou shareholding. A scrip takeover has pushed Tandou's share price up from around 44c to be now close to 60c. I think REL own just over 6% of Tandou??
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Originally Posted by Options
Looks like REL has made some good gains with their Tandou shareholding. A scrip takeover has pushed Tandou's share price up from around 44c to be now close to 60c. I think REL own just over 6% of Tandou??
Yes certainly a great investment.
I see the buyers are still lined up ,after taking all the sellers out yesterday.
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Yesterday's announcement that REL will be buying back [and cancelling] 1,515,677 [4.23%] shares at $4.20 from The Rotorua Energy Charitable Trust on the 20th January is positive for shareholders, as it will improve NTA, and give us a bit bigger slice of the cake,or in this case, of the farms.
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Member
It is in fact depressing the realty that REL shares cannot be disposed of by shareholders except at an enormous discount to asset backing- 24.5% discount to $5.57 according to last annual report of 30 June. And the buy back will continue the creep of the Cushing interests ever closer to extinguishing small shareholders . I see it was in March 2013 that I pointed out that Cushings could advance to 2/3 ownership in 3 years if buy backs continued. Yet again I see little prospect for shareholders other than that Cushings will ultimately take out the whole company at a gross discount to value. It a pity Unlisted has been allowed to survive. This company as a listed public company would be a totally different story and future.
QUOTE=percy;595652]Yesterday's announcement that REL will be buying back [and cancelling] 1,515,677 [4.23%] shares at $4.20 from The Rotorua Energy Charitable Trust on the 20th January is positive for shareholders, as it will improve NTA, and give us a bit bigger slice of the cake,or in this case, of the farms.[/QUOTE]
Last edited by 1leon; 02-11-2015 at 02:15 PM.
Reason: added "listed"
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Member
Last edited by 1leon; 02-11-2015 at 10:04 AM.
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Member
I have just received REL letter to shareholders calculating the asset backing of $5.57 is a premium of 33% to the purchase at $4.20 rather than the discount I had mentioned. Curiously it makes no mention of the fact that the purchase will advance the per centage of the company held by Cushing interests and is disproportionately in their interests.
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Another reason to dislike buybacks. Give me the money anytime.
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