HGH - Heartland Group Holdings

[Bikeguy]

Offer closes 5pm nzt Monday. I’m sure if they get the paperwork they will stay late to run the direct debits.

SP so close to $1 now I reckon why bother as well. Now highly likely it will go under $1. Just my opinion, often am wrong

Well said, and based on the times we are in i think you are right.

[biker]

Rawz you are correct and I was wrong. The closing time for cash issue applications is indeed 5pm on Monday 22nd April. The 3pm figure that I had remembered from the document is the local closing time in Australia. (AEST). I guess they are currently two hours behind us on the East Coast?

I see on page 8 of the offer document under note 1
"Heartland reserves the right to amend the timetables (including by extending the closing dates for the Offer or accepting late Applications, either generally or in particular cases) subject to the NZX Listing Rules."

So they may indeed stay late to work through those direct debits if they get the paperwork. But as you said it does depend on them getting the paperwork. But the receipt form I received said the paperwork would not be processed until the close of business on the following day (which from personal experience is what happened to me). That means Tuesday if you put your form in on Monday. This suggests to me that e-forms filled out on Monday will not 'get through' until Tuesday and won't be processed.

SNOOPY

The closing time for applications is 5pm Monday.
If anyone has an application with them by then - even sent electronically at the speed of light a nanosecond before 5pm - they’re in.
Doesn’t matter when it’s processed. They can take as long as they like -within the published dates - but the application was in, on time.
Snoopy you got a receipt on application. Doesn't matter that they processed it the next day.

[winner69]

One day, well into Jeff’s long and illustrious career, a journalist asked the banker why he wasn’t driving great Heartland performance like he used to.

“When Heartland was growing profits I was cold and hungry,” said Jeff. “I’m not cold and hungry anymore.”

Let’s call this “The Jeff Greenslade Problem”. How does a person or an organization keep its creative vitality once they have already become successful, already become comfortable?

This, we think, is one of the cardinal problems of any type of successful business that has seen a lot of growth.

Good that Jeff is ‘retiring’ and definitelybtime for new blood and renewed dynamism in Heartland ….from outside the organisation …beca bad move if they take the easy route and ‘promote’ Chris Flood

[Balance]

One day, well into Jeff’s long and illustrious career, a journalist asked the banker why he wasn’t driving great Heartland performance like he used to.

“When Heartland was growing profits I was cold and hungry,” said Jeff. “I’m not cold and hungry anymore.”

Let’s call this “The Jeff Greenslade Problem”. How does a person or an organization keep its creative vitality once they have already become successful, already become comfortable?

This, we think, is one of the cardinal problems of any type of successful business that has seen a lot of growth.

Good that Jeff is ‘retiring’ and definitelybtime for new blood and renewed dynamism in Heartland ….from outside the organisation …beca bad move if they take the easy route and ‘promote’ Chris Flood

Think of this another way, W69 - Jeff made a lot of money for shareholders who got in when he helmed the transformation of Marac into Heartland. He is now making way to enable new shareholders to get in at a great price to go for the next ride to transform Heartland into an Australasian bank!

[Bjauck]

Think of this another way, W69 - Jeff made a lot of money for shareholders who got in when he helmed the transformation of Marac into Heartland. He is now making way to enable new shareholders to get in at a great price to go for the next ride to transform Heartland into an Australasian bank!

There is the three generation aphorism for family businesses - first generation establishes the business, second generation builds it up, third generation loses it. Hopefully Jeff has not gone through all three stages, and that we are actually still in the first generation. Of course Heartland isn’t a family business, although Marac was an off-shoot from Fletcher’s I think.

[maclir]

I think nothing to do with Fletcher's. Picked up by NZI in the 90s, somewhere along the line became part of Pyne Gould, Geoff and Chris Flood came together there, ie as MARAC.

[winner69]

From Fletcher archives

History
The Manufacturers and Retailers Acceptance Co Ltd was a new company set up by Fletcher Trust & Investment Co Ltd, CAGA (Australia) and Philips Electrical Industries. [1] In 1968 arrangements were made for this company to buy the whole of the issued share capital of Fletcher Holdings' company Pacific Factors Ltd, thus increasing Fletcher Holdings' interest in the company to 38%.[2]
In October 1972 Marac Finance Ltd and its subsidiaries were reorganised into a new holding company, Marac Holdings Ltd. A new wholly-owned merchant bank subsidiary, Marac Corporation Ltd, was also set up. The introduction of a new shareholder, Security Pacific National Bank, also led to a decrease in Fletcher Trust's equity in the company from 38% to 30%. [3]
In 1985 Fletcher Challenge Ltd sold its 60% shareholding to NZI Ltd. [4]

[maclir]

From Fletcher archives

History
The Manufacturers and Retailers Acceptance Co Ltd was a new company set up by Fletcher Trust & Investment Co Ltd, CAGA (Australia) and Philips Electrical Industries. [1] In 1968 arrangements were made for this company to buy the whole of the issued share capital of Fletcher Holdings' company Pacific Factors Ltd, thus increasing Fletcher Holdings' interest in the company to 38%.[2]
In October 1972 Marac Finance Ltd and its subsidiaries were reorganised into a new holding company, Marac Holdings Ltd. A new wholly-owned merchant bank subsidiary, Marac Corporation Ltd, was also set up. The introduction of a new shareholder, Security Pacific National Bank, also led to a decrease in Fletcher Trust's equity in the company from 38% to 30%. [3]
In 1985 Fletcher Challenge Ltd sold its 60% shareholding to NZI Ltd. [4]

Well, I'll be. How did it get from its starting point on the North Shore to being tangled up with Flethcher's?

[ronaldson]

Offer closes 5pm nzt Monday. I’m sure if they get the paperwork they will stay late to run the direct debits.

SP so close to $1 now I reckon why bother as well. Now highly likely it will go under $1. Just my opinion, often am wrong

Hey Rawz - I said $1.06 was bottom and it reached $1.03 so I think we split the difference!

Tomorrow or Wednesday we will all know how much excess entitlment has been allocated to those who applied for more. Since shares were well bid today I don't think selling after the retail allotment to take profits will have much effect on the near term price as it is obvious folk are still willing to hoover them up even now.

So roll on settlement of the acquisition of Challenger!

[boysy]

Ive been told Challenger bank has lent some serious coin to local property developers who no one else locally would touch ..... imagine some of the property debt written by Challenger won't be looking that flash at the moment hope heartland is all over this exposure though I'm not sure they have a specific property division