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Member
Over the years I have occasionally looked at REL and passed it up as a closed shop, too tightly held and thoroughly controlled by the Cushing's.
But still I am occasionally tempted by the share price generally having a significant buffer against underlying assets.
Imagine my surprise when wading though the 200 page Sanford annual report I see that Rural Equities Limited is in the Top 20 shareholders of Sanford. They have 1,257,575 shares at a current face value of $4.89, that's over $6 million dollars worth of Sanford but nothing in the REL 2021 annual report.
Is REL now just a closed investment vehicle for the Cushing's? If so they should just be done with the sham and take it entirely private.
Or should I just sell my currently growing stake in Sanford and buy a whack of REL if they are investing in the same stuff as me?
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Originally Posted by Waikaka
Over the years I have occasionally looked at REL and passed it up as a closed shop, too tightly held and thoroughly controlled by the Cushing's.
But still I am occasionally tempted by the share price generally having a significant buffer against underlying assets.
Imagine my surprise when wading though the 200 page Sanford annual report I see that Rural Equities Limited is in the Top 20 shareholders of Sanford. They have 1,257,575 shares at a current face value of $4.89, that's over $6 million dollars worth of Sanford but nothing in the REL 2021 annual report.
Is REL now just a closed investment vehicle for the Cushing's? If so they should just be done with the sham and take it entirely private.
Or should I just sell my currently growing stake in Sanford and buy a whack of REL if they are investing in the same stuff as me?
Buying a wack of REL makes a lot of sense. The Cushings 76% gives them good incentive to look after the Co. Farm prices have increased a lot lately so good tail winds & NO debt
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Over the years you would have noticed REL have been very successful with their share market investments.
Can't remember the name of the Aussie rural company they bought into, however it was taken over by Websters,and REL had a good holding in Websters,which was in turn taken over.REL did very well.Cushings and REL also did well with their PGW holdings,although they would have done better by holding..
However I have my doubts about SAN and Cushings holding in SVR.
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Yes REL did very well from Tandou Limited (“Tandou”).
https://www.ruralequities.co.nz/imag...Investment.pdf
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Looks like not much came out of the AGM yesterday.....
Marketplaces (usx.co.nz)
REL’s Annual Meeting of Shareholders was held in Christchurch yesterday, 18 November 2021. The three resolutions considered by Shareholders were passed as follows:The resolution to reappoint Rodger Finlay as a REL Director was approved with a 97% majority.The resolution to increase the Directors’ fee pool from $275,000 to $445,000 was approved with a 97% majority.The resolution to authorise the Directors to approve the remuneration of the Auditor was approved with a 100% majority.
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Member
Originally Posted by kiora
Buying a wack of REL makes a lot of sense. The Cushings 76% gives them good incentive to look after the Co. Farm prices have increased a lot lately so good tail winds & NO debt
The Cushings through their various companies and trusts actual own at least 82.4%. Has also been bumped with share by backs and cancelations.
Shame as I would like to invest but just too tightly held for me.
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Based on the shareholder listings available through the NZX subscription service, I see Rural Equities Ltd held the following shareholdings as at 10 December 2021:
2,250,000 shares in Tower Limited
1,346,726 shares in Sanford Limited
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Originally Posted by Southern Lad
Based on the shareholder listings available through the NZX subscription service, I see Rural Equities Ltd held the following shareholdings as at 10 December 2021:
2,250,000 shares in Tower Limited
1,346,726 shares in Sanford Limited
I note H&G Ltd 80.06% holder of Rural Equities hold 14.6% of SVR Savor .
The Cushings are very successful investors.
Yet TWR,SAN and SAV seem odd choices to me.
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Cushings trying to get more.....
https://www.usx.co.nz/uploads/paperc...pdf?1662669416
Although last trade and any on offer are higher than $6.35, albeit very small volumes.
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Originally Posted by Sideshow Bob
Out of idle curiosity, why haven't the Cushings taken it private?
I used to be a shareholder years ago, but gave it away when it became apparent that it was turning into a family business.
Last edited by GTM 3442; 15-09-2022 at 08:15 AM.
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