HGH - Heartland Group Holdings

**newtrader** · 23-08-2022, 10:21 AM

There is a lot of information to process. Considering whether it is beneficial to participate in the placement over the SPP. The SPP has the upside of potentially getting a price lower than the placement price of 1.80 but the allocation might be smaller. 130m in placement and 70m in SPP.

What does this mean?

From page 12 and 13 of the annoucement

Heartland is also utilising its placement
capacity to increase the ability of shareholders to participate in the SPP the maximum amount possible
under the NZX Listing Rules for a SPP without utilising placement capacity, being 5% of shares on issue and
$15,000 per applicant. The SPP provides to participants the benefit of a downside pricing mechanism which
is not available in pro rata structures.

**BlackPeter** · 23-08-2022, 10:31 AM

Cool picture of a stingray in their company presentation (page 35). Given that it is the introduction to the outlook section - Do stingrays really bring luck

?

**beetills** · 23-08-2022, 10:49 AM

AVENUE Bank appears to be a miniture Heartland.
IMO becoming a Bank in Aus is a good move.

**winner69** · 23-08-2022, 10:50 AM

Heading towards being an Aussie company with some small NZ subsidiaries

Wonder if Jeff likes living in Melbourne or Sydney

**winner69** · 23-08-2022, 10:51 AM

Originally Posted by beetills

AVENUE Bank appears to be a miniture Heartland.
IMO becoming a Bank in Aus is a good move.

More so if that Aus bank 'owns' a NZ bank (Heartland Bank)

**winner69** · 23-08-2022, 10:54 AM

Originally Posted by Gerald

Never seems to produce any cash despite all the big profits. Wonder how many years till the next raise?

We need to get our mate Snoopy to update his workings on the 'cash flow' impacts of reverse mortgages (like receiving no cash until people die or move on)

It was a good piece of work and signaled the need for regular capital raises

**winner69** · 23-08-2022, 11:01 AM

Originally Posted by LaserEyeKiwi

Reminds me of the NZX equity raise to fund their acquisition earlier this year. That was a clusterf@!K for shareholder value.

Agree LEK - as soon as you see them say Heartland elected this offer structure due to the volatile market conditions to date in 2022, and its objective to further diversify its share register to promote increased liquidity on both the NZX and ASX. you know they don't really care about the interests of the 'smaller' shareholders

No worries though .... Greg can buy as many as he as to to keep his 9.8% holding .....that's further diversifying the share register and promoting increased liquidity eh

**Balance** · 23-08-2022, 11:02 AM

Originally Posted by winner69

We need to get our mate Snoopy to update his workings on the 'cash flow' impacts of reverse mortgages (like receiving no cash until people die or move on)

It was a good piece of work and signaled the need for regular capital raises

Very inefficient way of finding growth - pay out dividends (28% tax imputation) and then, raising capital to replace the dividend paid!?

Guess it’s the reality of being a dividend yielding stock - need to keep faith with the masses.