HGH - Heartland Group Holdings

[Fred_Rubble]

Resolution 1: That the Restructure (details of which are set out in the Scheme Booklet) is approved
For: 333,558,468 (99.57%)
Against: 1,450,852 (0.43%)
Abstain: 9,484,391

Landslide Result

[percy]

[FONT="]Resolution 1: That the Restructure (details of which are set out in the Scheme Booklet) is approved[/FONT]
For: 333,558,468 (99.57%)
Against: 1,450,852 (0.43%)
Abstain: 9,484,391

Landslide Result

Incredible result.

[Beagle]

My Conclusion. The current SP of HBL is being affected by factors mentioned at the beginning of this post and is not fairly representative of the future earnings potential and earnings growth of the company.
I think its underpriced by about 20 cps at present and I expect relative outperformance in the year ahead from the current level of $1.66.

I correctly called this a SELL at $2.14 in December 2017 when it got well ahead of itself. I now rank it as a BUY and have been doing exactly that. Presently my #1 investment position even ahead of SUM !

From late last week.
Yes a VERY solid endorsement indeed from shareholders with the voting. SP was too cheap at $1.66. Onward and upward now eh...SP might be back to mid-late $1.70's by as early as the end of this week !
Disc: Bought more OCA today and that's now #1.

[bull....]

yes big vote in confidence , now they just need to improve the dismal share price performance

http://www.scoop.co.nz/stories/BU180...le-funding.htm

[winner69]

Honest, it wasn’t me that asked the question about getting more younger digitally aware people on the Board ....the person even mentioned the current Board looks a bit old and needs refreshing.

Glad to hear Chairman say they are on the case ...ha ha

[winner69]

Whoever asked that question as to why 2 directors don’t own shares probably didn’t get an answer they wanted ...but the questioner was probably only trying to make a point

At least those two directors remain truly independent ...no vested interest and all that.

[SCOTTY]

And a very popular site, clicking over 2m hits today .

[iceman]

After reading the Chairman’s and CEO’s reports to the AGM, I am pleased with where we are heading with this Company. I think it was great that the restructuring found such a resounding favour with shareholders.
This will now allow the company to go ahead full steam into the Australian REL business by seeking the necessary wholesale funding and possibly some capital raising, to grow this business very fast. Responsibly, they also held the dividends at the same level as last year to give them more cash for growth. I wouldn’t mind them holding the dividend there for the next few years or even reduce it, but realise that wouldn’t go down well with all SH.
It is great that the focus with RELs will be in Australia where we already have a market leading position in a country where the over 65 yo are increasing by around 20,000 per month. Next year that population is expected to grow as much in numbers as the same NZ cohort will do in the next 10 years !

Good to read tat the debacle with the Oracle core banking system seems to be behind us but totally expect further issues, as is the norm with such systems that start giving headaches.

I like what they call the “best or only” policy where they want to be best in the market for a particular product or have the only product in the market, as they pretty much do with the RELs on both sides of the Tasman.
In line with that policy they have reduced their risk to big business loans where they have more competition from the big banks towards smaller and shorter loans to businesses, such as livestock to farmers and the “open for business” digital platform.
I am less enthused by the increasing use of words such as “community”, “culture” and “diversity of thought” but realise this seems to be the way things are heading today. HBL represents 21 ethnic groups for their staff. Wow ! Hope they are all capable, not just the right race or colour. My favourite comment from Jeff about this great community commitment was that HBL is striving to put “New Zealander’s into better cars and helping seniors live a more comfortable retirement”. Makes me feel really good being part of this business doing such wonderful things.

One thing I am unclear on is who will be the CEO of the new Heartland Group Holdings. I assume Jeff. Will he also be CEO of Heartland Bank ? I do note (and disagree with) that he is also to be a Director of both these companies. I question how wise that is.

Now we just need to see all of this turn very quickly into good growth in EPS

Discl: accumulating

[Vaygor1]

Honest, it wasn’t me that asked the question about getting more younger digitally aware people on the Board ....the person even mentioned the current Board looks a bit old and needs refreshing.

Glad to hear Chairman say they are on the case ...ha ha

I think HBL are a good company to have ownership in and have been thinking seriously about investing in them quite recently.

The one big disturbing factor that is stopping me in my tracks is Oracle.
I have worked for extensive periods in two companies that used it, and in my most humble of opinion it is a complete and utter sack of sh!t.

Systems like these can make or break companies. Jade nearly broke The Warehouse.

I have personally seen millions and millions being poured into Oracle year after year by the two companies I used to work for that used it. One of them finally cut their massive losses and threw the whole lot in the bin (as The Warehouse did with Jade) and started again. The other one, I don't know if they still use it or not.

Disadvantages:
Slooooooooow
Unreliable
Super user-unfriendly
Super duper expensive to implement
Super duper duper expensive to maintain.

Advantages:
None I can think of.

Maybe Oracle has improved from those times, but I can't bring myself to buy into HBL while they're using it.
I heard about the trouble & cost of this new system of HBL's long before I found out it was Oracle.... and when I found out, it all fell into place.

[Beagle]

Finally a big day for the banks on the American markets overnight. They've been real laggards in recent months but a 2% index pop overnight.
Expecting a very good day for HBL shares today, (given the positive vote endorsement announcement was after the market closed yesterday).