HGH - Heartland Group Holdings

[percy]

Today's close of 48 a new low since going alone



Even this must be a bit of a worry for the believers .... wonder how far it can actually drift down to

It is a times like this one is reminded of Emperor Hirohito's famous quote after the US had bombed Hiroshima,"The war is not nessarily going our way." !!

[winner69]

It is a times like this one is reminded of Emperor Hirohito's famous quote after the US had bombed Hiroshima,"The war is not nessarily going our way." !!

That was in his surrender speech .... bit premature for HNZ isn't yet ... there might be some fight in the dog yet?

[percy]

That was in his surrender speech .... bit premature for HNZ isn't yet ... there might be some fight in the dog yet?

The surrender speech came after Nagasaki. I am sure there is plenty of fight in the dog.? In fact I am "well positioned for the upturn".

[RRR]

Owners looking after themselves>loss of confidence from investors>share price crash>owners buy them for cheap and take it private - is this what we are witnessing now?

[Lizard]

Today's close of 48 a new low since going alone

Even this must be a bit of a worry for the believers .... wonder how far it can actually drift down to

Looks like Belgie's stop getting triggered by the 3:10pm seller. Probably only got another couple of mill to go, eh?

But yes, agree not looking good and plenty of time to fall further before they tell us all is going gangbusters at the agm.

If it's not worth close to NTA, then it is impossible to know what it is worth, as there is a presumption of impairments and/or future losses being built into value. Market wants clarity as to where it will end up and so that will take time.

[Balance]

GK telling his detractors to put up or shut up as there has been some serious big selling out of PGC and HNZ? He is now giving them a chance to get taken out at 33 cents in PGC, instead of him being squeezed out.

The battle lines are drawn - just sit back and watch the fun. Old money vs new old money.

So far, both sides have done badly!

[corlemar]

https://www.nzx.com/companies/HNZ/announcements/215563

the plot thickens !!

[Lizard]

This is an interesting statement:

Consumer business performing well offsetting a sluggish mortgage market where EQC payments have resulted in a reduction in the mortgage book

Does that mean that the government provisions for EQC payments will shortly show up as coming off private sector debt? And will private sector debt be re-established to a greater or lesser extent once those home-owners begin to rebuild?

I know the money-flow of Chch rebuild has been talked about often enough and will be drip-fed over longer than most might think likely, but I think we (as share investors) may still be underestimating its likely impact... and will likely one day under-estimate its cessation.

[Lizard]

Another interesting comment:

The forecast is in the process of being updated, further guidance will be provided once complete

That wouldn't need a mention if they didn't already have some clues and wish to divert further questions. So 80% chance it's not going to be an upgrade?

[SCOTTY]

I did go to the meeting yesterday. The business seems to be going ok. The Press report this morning is pretty accurate.

Some other intersting facts:

- Currently $500m liquidity including $150m in cash. Greenslade said that it is a bit high and that they are working hard to get the funds working.
- 97% of funds are now out of the Govt. Garantee.
- Bank Registration: They are now in engagement with the Reserve Bank.
- The equity ratio is very high @ 14%.
- The NTA post the PGF purchase is 84cps.
- The reinvestment rate is 74% which is above their target of 70%

At this stage all is going to plan.

Cheers