HGH - Heartland Group Holdings

[davflaws]

Using the new Heartland App

Bit disappointed it doesn’t give me a Te Reo option.

Utua is pay and penapena is save



BNZ apparently gives that option

He aha te tikanga maori mo te "stirrer!"??

[minimoke]

Using the new Heartland App

Bit disappointed it doesn’t give me a Te Reo option.

Have HBL given any commitment to Signing or deaf interpretation at their branches?

[forest]

Another interesting presentation from Heartland last night.
When they first brought Seniors Reverse Equity Loan business ,they were very much aware of NZ companies failures in Australia.
They were therefore very cautious.The REL business has been an out standing success, and the growth is set to continue,particularly in Australia.
The average Australian loan is higher than in NZ,usually between au$50,000 and au$60,000,against an average RVL of 12%.They will lend up to 20% to 30% of RVL,.Nearly 70% of RELs are repaid early.Talking with Australian regulators ,any new requirements will not be an issue for Heartland.
The restructure group is to facilitate the growth in their Australian REL business.Australian REL business growth rate is much higher than in NZ,however Heartland see good prospects in NZ as well.
Heartland need 70% shareholders to vote in favour of this resolution,so if you have not already voted,please do.

I am not to sure Percy that I share your enthusiasm to vote in favour of this resolution to have the Australian REL business in a separate entity.
The reason is that I notice the following, a few months ago Richard Lorraway resigned. Richard was HBL Chief Risk Officer, if one person would understand the implications of the changes I would have thought it would be Richard. Ok, maybe coincidental he left right at the time risk management of HBL is up for discussion. But why then did Richard decided since to sell all of his share holding.
Also there are 2 other directors Ellen Comerford and Venessa Stoddart without a share holding in HBL.
Does not feel that everybody in top management believes strongly in great things to come.
To counter that some directors have a serious large shareholding but this was mostly acquired quit some time ago.
Your thoughts?

[winner69]

Have HBL given any commitment to Signing or deaf interpretation at their branches?

Getting prepared to do that at the AGM maybe


But sadly I think all thius diversity stuff is just one big charade to give themselves the warm fuzzies or maybe they think its good 'marketing'


I still remember the horrified look the Chairman had at a AGM a couple of years ago when a shareholder said the Board was a pack of fuddy duddys ...he seriously looked shooked, in other words he just doesn't get this diversity stuff.

[winner69]

I am not to sure Percy that I share your enthusiasm to vote in favour of this resolution to have the Australian REL business in a separate entity.
The reason is that I notice the following, a few months ago Richard Lorraway resigned. Richard was HBL Chief Risk Officer, if one person would understand the implications of the changes I would have thought it would be Richard. Ok, maybe coincidental he left right at the time risk management of HBL is up for discussion. But why then did Richard decided since to sell all of his share holding.
Also there are 2 other directors Ellen Comerford and Venessa Stoddart without a share holding in HBL.
Does not feel that everybody in top management believes strongly in great things to come.
To counter that some directors have a serious large shareholding but this was mostly acquired quit some time ago.
Your thoughts?

That Lorraway guy has probably left the office and that's why he sold his shares.


Has a habit of working for a few years and then taking a break ....travel



I wouldn't read much into him resigning ....but then a lot of risk management **** came out after he left his previous job

[percy]

I am not to sure Percy that I share your enthusiasm to vote in favour of this resolution to have the Australian REL business in a separate entity.
The reason is that I notice the following, a few months ago Richard Lorraway resigned. Richard was HBL Chief Risk Officer, if one person would understand the implications of the changes I would have thought it would be Richard. Ok, maybe coincidental he left right at the time risk management of HBL is up for discussion. But why then did Richard decided since to sell all of his share holding.
Also there are 2 other directors Ellen Comerford and Venessa Stoddart without a share holding in HBL.
Does not feel that everybody in top management believes strongly in great things to come.
To counter that some directors have a serious large shareholding but this was mostly acquired quit some time ago.
Your thoughts?

I spoke with CEO Jeff Greenslade and deputy CEO Chris Flood. before the meeting.In fact I had all my questions answered before the meeting started.
After the meeting I spoke with CFO David Mackrill,and Investor Relations Manager,Julia Belk..
When the restructure was first announced I was a bit disappointed HBL would not have to answer fully to The Reserve Bank of NZ.Thought that gave shareholders extra protection.I then came around to thinking OK I can see we still be able to analyse their full accounts.HBL have earnt my respect as they have always been honest with their objectives,and I have been very pleasantly surprised they do as they say they will do.
HBL have really made their REL business work.They see continuing huge growth in Australia.It is a very profitable low risk secure sector.Repeat "very profitable low risk secure sector."
To take advantage of this growth they have to restructure their structure.
The long and short of it, I went from being luke warm,to hot,and now I am boiling with enthusiasm.
I thought the previous CFO,Craig Stephen was very capable.I found him easy to talk to.His replacement David Mackrill, is also very capable and easy to talk with.Jeff Greenslade attracts capable people,including Investor Relations Manager Julia Belk.
Yes a couple of directors do not hold shares,however the other directors and management have a lot of skin on the line.

[CD_CHCH]

I have voted to support the proposal for pretty much the same reasons Percy has set out. HBL have proven to be reliable when setting targets and meeting them, and to date all moves made have increased the share price and/or dividends therefore they have my support.

[forest]

I spoke with CEO Jeff Greenslade and deputy CEO Chris Flood. before the meeting.In fact I had all my questions answered before the meeting started.
After the meeting I spoke with CFO David Mackrill,and Investor Relations Manager,Julia Belk..
When the restructure was first announced I was a bit disappointed HBL would not have to answer fully to The Reserve Bank of NZ.Thought that gave shareholders extra protection.I then came around to thinking OK I can see we still be able to analyse their full accounts.HBL have earnt my respect as they have always been honest with their objectives,and I have been very pleasantly surprised they do as they say they will do.
HBL have really made their REL business work.They see continuing huge growth in Australia.It is a very profitable low risk secure sector.Repeat "very profitable low risk secure sector."
To take advantage of this growth they have to restructure their structure.
The long and short of it, I went from being luke warm,to hot,and now I am boiling with enthusiasm.
I thought the previous CFO,Craig Stephen was very capable.I found him easy to talk to.His replacement David Mackrill, is also very capable and easy to talk with.Jeff Greenslade attracts capable people,including Investor Relations Manager Julia Belk.
Yes a couple of directors do not hold shares,however the other directors and management have a lot of skin on the line.

Thanks Percy, I will keep a close eye on how this develops.

[percy]

Thanks Percy, I will keep a close eye on how this develops.

Exciting future.
However, for it to happen, HBL need you to vote in favour of the resolution..

[forest]

I have voted to support the proposal for pretty much the same reasons Percy has set out. HBL have proven to be reliable when setting targets and meeting them, and to date all moves made have increased the share price and/or dividends therefore they have my support.

Meeting targets without raising capital is admirable, meeting targets and regurlarly raising capital well.......how hard can that be.