Rangatira

[winner69]

Roy basically built the Mary Potter Hospice in Lower Hutt.

The Mckenzie family were very down to earth people and never made much of all the good work they did

Anybody remember the old McKenzies department stores?

[Armillary Private Capital]

First half report and related media release.

[Armillary Private Capital]

Media release relating to second half performance.

[Armillary Private Capital]

Rangatira acquires majority stake in Bio-Strategy.

[Armillary Private Capital]

Chair and management addresses at annual shareholders' meeting.

[Southern Lad]

The half year profit announcement and dividend announced yesterday was a good step forward. Rangatira_Investments_Half_Year_Result_to_30_Sept_ 2020.pdf (usx.co.nz)

RNG is missing a trading business producing high profit levels (as they had previously with Hellers). The change in the investment portfolio has lead to a lack of tax payments which has impacted on their ability to fully impute dividends, however as a big chunk of the company is owned by McKenzie charities I guess thus is less of a concern to them.

The listed investments disclosed at 31 March 2020 included sizeable holdings in IFT, MCY, MEL, FPH, CEN, MFT, EBO, GNE and TPW. In addition to the gain reported on public investments in the six months to 30 September, RNG will have continued their good run on these holdings in the 10 weeks since (assuming they still hold them).

[Southern Lad]

Partners Life (5% owned by Rangatira) has agreed to purchase BNZ’s Life business for $290m:

http://nzx-prod-s7fsd7f98s.s3-websit...171/337583.pdf

Presumably this materially expands Partners Life business and helps build the scale to justify a NZX listing.

[Joshuatree]

How have they performed for you Southern Lad.Very illiquid but with a 7% yield thats sustainable?

[Southern Lad]

Share price has been flat the couple of years I have been in. As you point out dividend yield is better than average. Large charitable sector shareholding’s presumably encourages a steady dividend payout. Rangatira provides access to a range of smaller NZ trading businesses that not otherwise easily accessible via a listed vehicle. Good track record of capital uplift through their trading business investments.

Liquidity is an issue, but there is volume available from time to time. A case of moving quickly if you see them.

[percy]

Business Description
RANGATIRA is a diversified investment company with assets over $200m. Established in 1937, Rangatira's portfolio is focused on middle-market private equity investments, complemented by investments in a range of publicly listed companies. Rangatira's private equity investments target established middle-market companies with good long-term growth potential. Rangatira has two types of shares, an A and a B, with B class voting rights restricted to matters directly affecting B share rights. Rangatira is 51% owned by the J R McKenzie Trust with other community and charitable organisations owning around another 15%. These holdings by charitable organisations consist mainly of B shares. Rangatira aims to add value to its private equity investments by actively contributing at management and board level, recognising the need to combine high standards of governance with sound management, effective capital allocation and a clear focus on growth and profitability. Rangatira's mission is to increase both the capital value of its shares and the dividends paid to shareholders.