HGH - Heartland Group Holdings

[percy]

[QUOTE=kiwi_on_OE;377571]Bank of Queensland and Bendigo & Adelaide are at discount to NTA if that's what you want. And they are proper banks, paying dividends.

Looking at the fundamentals for HNZ, profit of $20m for the year, so a PE of 10, ROE of 6%, ROA 1%. They obviously need to improve their ROE. TSB are have a similar NTA, but have twice the asset base, ROE 12%, ROA 1%. So TSB is a good example to follow. The question is, can they?

Looking at those fundamentals you do not get a true picture.First half hopeless.Govt guarantee/holding too much cash,set up costs etc.
3rd and 4th quarters give/ and will give a true picture of progress made and and indication of future earnings.Would expect we will have
4th quarter and full year result soon.In a year or two I expect ROE of 15 or more.

[Balance]

Bank of Queensland and Bendigo & Adelaide are at discount to NTA if that's what you want. And they are proper banks, paying dividends.

Looking at the fundamentals for HNZ, profit of $20m for the year, so a PE of 10, ROE of 6%, ROA 1%. They obviously need to improve their ROE. TSB are have a similar NTA, but have twice the asset base, ROE 12%, ROA 1%. So TSB is a good example to follow. The question is, can they?

Given the size similarity with TSB, it almost makes me wonder if they could be tempted to take it over.

The problems of Bank of Queensland and Bendigo/Adelaide are well known and documented - over-exposures to one sector/state and consequential losses which necessitate capital raisings (BOQ has had to raise capital twice in 3 years to plug the consequential hole!).

Interesting enough, they still trade at close to NTA.

[SCOTTY]

If you are a T.A. believer - the share price is well above the 30 and 100 day moving averages - the charts say - BUY

Chocks away

[Balance]

fianlly sold our remaining shares in pgc

our family trust only has 5000 odd, but after the after buying the rights issue we have 21000. my late father , an accountant had had his broker buy at above 4 dollars back in the days when marac paid a dividend.

now days i trade the market and dont go long

i would have to say that even though we only lost about 19000 dollars.

the pritty is it now appears that in order to buy shares in PGC and aquire the company G Kerr has taken out related party loans

it matters not where the money came from in order for kerr to buy shares, his related party loans allowed him to keep operating and buying shares even if it was through another party such as the US partnership.

Share holder wealth has been used to corner the major stake in the company even if the loans were used else where.

It matters not becuase with out these loans Kerr may never have had the public good will to make the take over due to the public knowing of his related party loans.

the FMA intervention would hve shut the process down ages ago.

if now appears that kerr and co have dupped the public and the shareholders in to selling down there shares at major losses.

Dodgie Georgie was trying to make up the horrendous losses he took from the first 10% shareholding he bought in PGC back in 2006 to 2008 - 9.8m shares at around $4.50 each.

He managed to pull off a few fast ones, shuffling assets, loans and shareholdings around the place, but ultimately got caught big time with his hands in the cookie jar with Torchlight/Perpetual.

As Shoeshine at NBR speculated last week, could be a lot more skeletons to come out of PGC yet now that the FMA is having a close look. FMA took away a lot of files, emails etc so there will be some serious analysis going on there now.

Meanwhile, HNZ has fortunately been insulated from all of his shenanigans by a very strong independent board - all independents save for the MD.

Dodgie Georgie's last link to HNZ was PGC's shareholding.

[Xerof]

Yep, seems the fog has now lifted off HNZ.

For anyone who heeded the warnings a couple of years ago and sold, if you still have the balls to buy equity in a finance co, now would seem a good time to reenter for a short term rerating imo.

I still don't hold a candle for the banking license scenario, nor do I believe the new large s/holders are committed, so for me there is limited upside. There will be a HUGE number of holders pleased to get back to breakeven before holding costs, who want rid of the whole sorry affair.


This is opinion based on my own research only, not investment advice. DYOR

[Balance]

Yep, seems the fog has now lifted off HNZ.

For anyone who heeded the warnings a couple of years ago and sold, if you still have the balls to buy equity in a finance co, now would seem a good time to reenter for a short term rerating imo.

I still don't hold a candle for the banking license scenario, nor do I believe the new large s/holders are committed, so for me there is limited upside. There will be a HUGE number of holders pleased to get back to breakeven before holding costs, who want rid of the whole sorry affair.


This is opinion based on my own research only, not investment advice. DYOR

Reminds me of Diligent.

Thanks for the balance, Xerof - two sides make a story and only time will tell which side is correct.

Pike River is of course one which many NZOG and PRC shareholders would like to really really forget but they shouldn't - good lessons to be learnt there.

Never fall in love with a stock and accept a balance view.

[Balance]

Official announcement from PGC that Dodgie Georgie is well and truly out of HNZ.

https://www.nzx.com/files/attachments/160297.pdf

I like the part about PGC now having money to make investments. I wonder how the other shareholders in PGC feel about buying more of Dodgie's assets?

Where has that decomposing dead fish stench from HNZ disappeared to?

[Marilyn Munroe]

Heartland bank fails.

Not here, in Kansas

http://www.fdic.gov/news/news/press/2012/pr12085.html


Boop boop de do

Marilyn

[percy]

Received two letters today from Heartland NZ Ltd.,;[ in the same envelope]
1/ Unsolicited offers for Heartland shares.
2/ Notice of proposal to give financial assistance.
Conculsion,At least the unsolicitied offer guy/gal has to pay for his/her shares.??????
"These unsolicitied offers are not themselves against the law,so your Board cannot prevent these repeated approaches".
Would think the Board may pay to give financial assistance to shareholders before they start "giving" more shares to staff,or they will not be re-elected.Financial assistance to staff is just a transfer of wealth from shareholders to staff.

[spmcg]

Yes, I also thought that was ill-timed at best.