HGH - Heartland Group Holdings

[Snow Leopard]

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.

Letter contents 'announced' to market today.
I now see what you are complaining about.
(My paper copies will eventually catch up with me).

best wishes
Paper Tiger

[Balance]

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.

Relax, Percy.

All banks give options to executives/staff as part of their packages plus the sp has moved upwards by 10% since the stench of Kerr and Mogridge lifted from the stock.

More upside to come once the traders who bought at around the 50 cents level are moped up.

The revelation of which fund manager has been buying should give the sp another boost in my opinion.

[percy]

Relax, Percy.

All banks give options to executives/staff as part of their packages plus the sp has moved upwards by 10% since the stench of Kerr and Mogridge lifted from the stock.

More upside to come once the traders who bought at around the 50 cents level are moped up.

The revelation of which fund manager has been buying should give the sp another boost in my opinion.

Yes,I suppose you are right,but still sends the wrong message to this shareholder.Wouldn't be nice to get someone like Ralph Norris as Chairman? Wouldn't mind giving him some options based on SP performance.!!!!!

[K1W1G0LD]

Received two letters today from Heartland NZ Ltd.,;[ in the same envelope]

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.

Percy, I don't think Heartland will be helping you out with financial assistance anytime soon. I emailed Stephen Craig (whose official title now appears to be "Head of Treasury & Strategy") to ask him when they would be announcing their long overdue dividend policy and he replied that this is to be announced by the chairman at their AGM on November 2nd. So the long suffering shareholders will have to wait many more months it seems.

[percy]

Percy, I don't think Heartland will be helping you out with financial assistance anytime soon. I emailed Stephen Craig (whose official title now appears to be "Head of Treasury & Strategy") to ask him when they would be announcing their long overdue dividend policy and he replied that this is to be announced by the chairman at their AGM on November 2nd. So the long suffering shareholders will have to wait many more months it seems.

Good work K1W1GOLD.Would be most acceptable to sharehoders to have a divie, as well as the dividend policy announced at AGM.Divie paid before Xmas? Am sure if The Chairman is up for reelection he will be keen to make a maiden divie announcement.

[K1W1G0LD]

Good work K1W1GOLD.Would be most acceptable to sharehoders to have a divie, as well as the dividend policy announced at AGM.Divie paid before Xmas? Am sure if The Chairman is up for reelection he will be keen to make a maiden divie announcement.

I like the way you put a positive spin on it Percy, I hope you're right.

[percy]

I like the way you put a positive spin on it Percy, I hope you're right.

AGMs are fun when a lot of "old chaps" turn up.Mr Fitzgerald ,who was once a Reverend,and a director of PGC has a certain way with words.I look forward to going to this year AGM as I feel there will be a lot said about "staff shares" when shareholders are left waiting for a divie.Once some one brings the subject up, I am sure the board will be left in no doudt how shareholders feel. !!!! lol.

[K1W1G0LD]

Percy, here's what the same gentleman had to say about staff shares when I contacted him recently.


Many thanks for your enquiry
>>
>> The proposed performance based share allocation is part of the overall performance package each executive receives. This is not in addition to, but replaces potential cash bonuses with shares.
>>
>> The purpose of providing shares as opposed to cash bonuses is (from my perspective) designed to ensure the executives motivation is aligned with that of shareholders, being long term sustainable profit and share price appreciation. One thing the global financial crisis has taught us is that short term incentives in many instances have resulted in value destruction. As such your Board is very much focussed on ensuring longevity and sustainability of earnings.
>>
>> It is important to note that no shares will be made available to these executives unless the performance targets are achieved. If the targets are not achieved, then the shares would not vest. The Board has absolute discretion in this regard. Whilst I am not yet privy to the performance criteria, I assume it would naturally include minimum return on equity hurdles; the payment of dividends to share-holders; and share price appreciation.
>>
>> I hope this goes some way to answering your questions. If you require clarification on any point or wish to discuss anything further, please do not hesitate to give me a call.
>>
>> Regards
>>
>> Craig
>>
>> Craig Stephen
>> HEARTLAND BUILDING SOCIETY | HEAD OF TREASURY & STRATEGY

[percy]

Percy, here's what the same gentleman had to say about staff shares when I contacted him recently.


Many thanks for your enquiry
>>
>> The proposed performance based share allocation is part of the overall performance package each executive receives. This is not in addition to, but replaces potential cash bonuses with shares.
>>
>> The purpose of providing shares as opposed to cash bonuses is (from my perspective) designed to ensure the executives motivation is aligned with that of shareholders, being long term sustainable profit and share price appreciation. One thing the global financial crisis has taught us is that short term incentives in many instances have resulted in value destruction. As such your Board is very much focussed on ensuring longevity and sustainability of earnings.
>>
>> It is important to note that no shares will be made available to these executives unless the performance targets are achieved. If the targets are not achieved, then the shares would not vest. The Board has absolute discretion in this regard. Whilst I am not yet privy to the performance criteria, I assume it would naturally include minimum return on equity hurdles; the payment of dividends to share-holders; and share price appreciation.
>>
>> I hope this goes some way to answering your questions. If you require clarification on any point or wish to discuss anything further, please do not hesitate to give me a call.
>>
>> Regards
>>
>> Craig
>>
>> Craig Stephen
>> HEARTLAND BUILDING SOCIETY | HEAD OF TREASURY & STRATEGY

I can just see chairman Bruce Irvine or Craig Stephen explaining it at the AGM.
I can also "hear" Mr.Fitzgerald's reply."As a shareholder I have TWO performance figures I look at.One the share price,the other the dividend.On both perfomance figures the board has failed." lol

[percy]

Today's announcement.Result will be reported 28th August.
Bank licence;"Heartland expects that a decision will be avaliable by a date in November of this year." Interesting, they appear to be further down the track then I thought.Trajectory should see the SP close the gap to NTA.Further trajectory will see the SP at a premium to NTA,while a divie will greatly increase rate of the trajectory .