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  1. #21
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    It is going south ... Seems PGC is holding up better than HNZ right now...

  2. #22
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    Quote Originally Posted by belgarion View Post
    http://www.nzx.com/markets/NZSX/HNZ/...apital-Raising

    Wayhey! Nice outcome for small investors.

    Some fun and games to be had before the SPP tho [evil grin]
    Belgarion, when you say nice outcome for small investors - is your rationale that small investors if they don't buy into the SPP won't have their holding diluted ?

  3. #23
    Senior Member kizame's Avatar
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    If there are shares issued,and you don't take part,then your holding will be diluted.

    I think Belgarion is refering to the discount to net asset backing of the SPP,but I'm sure he will elaborate.
    Last edited by kizame; 20-07-2011 at 08:29 AM.

  4. #24
    Share Collector
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    Small investors can buy a few now and take part in the spp at a price which will either be better than (possibly much better than) or the same as other institutional investors.

    They can also wait until after the results are out to make a decision on making an investment of up to $15,000 - these results are going to be fairly critical in giving some insight as to how HNZ might perform in the future, so that is a considerable amount of de-risking around their purchase.

    However, the only thing not clear to me is what the cut-off date for owning shares in the spp is. The details are due to be announced by tomorrow - given the spp is going to open on 8 August, it is possible there may not be much time/too late to get on?

    (bought a few anyway at 62cps - am assuming there is a reasonable chance of getting access to the spp still)
    Last edited by Lizard; 20-07-2011 at 09:19 AM.

  5. #25
    Legend Balance's Avatar
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    There will be a few fund management institutions with their noses out of joint? Underwriting to be done without them being involved and they have been doing their usual selling down in anticipation that they will get reset via the underwriting.

  6. #26
    Guru Xerof's Avatar
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    Underwritten by Impact Capital Management - formed July 1 2011, 100 shares, 100% owned by Impact Capital, 100 shares, owned by Greg Tomlinson, involving Richard Oliver

    Seems like GK is having to call in favours from old Macquarie mates to get these deals away............

  7. #27
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    Hmmmm... Liz could be right... Holding but not salivating.... Yet !!!..

  8. #28
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    Just nosing around at the companies office and noticed there are approved name reservations there for Heartland Insurance Ltd, Heartland Kiwisaver Ltd, Heartland Trustee NZ Ltd, Heartland Building Society Ltd, Heartland Wealth Management Ltd.... at that rate, I half expected to come across a "Heartland Property Management Ltd" (No, there wasn't)

    Not sure if they are just covering off the bases or an indication of strategic direction?

  9. #29
    percy
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    Quote Originally Posted by Lizard View Post
    Just nosing around at the companies office and noticed there are approved name reservations there for Heartland Insurance Ltd, Heartland Kiwisaver Ltd, Heartland Trustee NZ Ltd, Heartland Building Society Ltd, Heartland Wealth Management Ltd.... at that rate, I half expected to come across a "Heartland Property Management Ltd" (No, there wasn't)

    Not sure if they are just covering off the bases or an indication of strategic direction?
    Would think they are just covering bases,making sure no one else uses their name.Marac had insurance,so expect that is now Heartland Insurance.Trustee they would need,kiwisaver I don't know,building soc would be to cover the building socirties that joined Marac to form Heartland.
    "Property management" may still be, and most probably remain a swear word for some time as that was Marac's down fall. Maybe in a year or two.!!!!

  10. #30
    On the doghouse
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    Quote Originally Posted by winner69 View Post
    Bit of a worry when that head finance man says 'Heartland aims to encourage depositors by becoming a bank, reasoning that people are more relaxed about putting money in a bank than with a finance company' So is becoming a bank just one big (and expensive) marketing ploy
    Not a holder Winner69, but I am becoming very uneasy about Heartland. What do you think of this observation?

    I am presently visiting the Kapiti Coast and have read today's edition of the Dominion and the local rag the Kapiti Observer, both dated Wednesday 20th July.

    On page B7 of the Dominion is an ad for PGG Wrightson Finance, an organization which seems inevitably destined to become part of Heartland. They are advertising a 12 month secured term deposit offering 7.5% per annum. This is despite the small print in the ad that notes any such investment will become a deposit with Heartland that will consequently be unsecured in a couple of months time (no mention of that last clause in the ad of course).

    Then on p13 of the Kapiti Observer, a real 'heartland' publication (sic), Heartland are offering a 12 month term deposit rate of 6.25% per annum. This seems to be quite a big gap for what is ostensibly the same investment, even allowing for the fact the 'small print' shows that the PGG Wrightson Finance 7.5% rate is for investments of $100,000 plus.

    The headline on the Heartland ad states 'We invest in Wellington'. Immediately I am thinking, no you don't! You are primarily the old Southern Cross and CBS Canterbury Building Societies, investing in the heart of the South Island. Oh and you are also Marac investing in the manufacturing heart of Wellington (yeah right, let me know if you can't count any manufacturer's left in Wellington on one hand!)

    I can't help the impression that Heartland is really old rope painted and tarted up as a new frilly bow knot. The marketing budget is being spent to allow the paying of lower interest rates to depositors than a BBB- credit rated organization might otherwise offer. Pull the wrong string and the whole lot might unravel. I really, really hope that I am wrong.

    I would like to see Heartland succeed. I think NZ inc. needs it! But is a 'Salt of the Earth' name and a hyped marketing budget really the key to the path of success?

    SNOOPY

    discl: Hold PGW, who are in the process of divesting PGG Wrightson Finance.
    Last edited by Snoopy; 20-07-2011 at 09:32 PM.
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