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  1. #1801
    Pirate K1W1G0LD's Avatar
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    Quote Originally Posted by zigzag View Post
    For someone who calls himself Snoopy, you should be careful who you call puppies. We might call you Daddy. What a bitch.
    Touche.........................haha love it!

  2. #1802
    Pirate K1W1G0LD's Avatar
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    Quote Originally Posted by zigzag View Post
    For someone who calls himself Snoopy, you should be careful who you call puppies. We might call you Daddy. What a bitch.
    Zigzag , looks like you've upset the BOF society dude, you'll be persona non grata if your not careful.
    Cheers kiwigold

  3. #1803
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    Quote Originally Posted by K1W1G0LD View Post
    Zigzag , looks like you've upset the BOF society dude, you'll be persona non grata if your not careful.
    Cheers kiwigold
    Nothing like a bit of irreverence. Doubt anyone will be upset. Anyway, Snoopy is only a Beagle, and ZigZag is not my real name.

  4. #1804
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    Quote Originally Posted by Snoopy View Post
    I must say there are many HNZ shareholders here who are very trusting and loyal. Sort of like 'company's best friends'. I'll bet if I peered in the side window at this years AGM there you would all be, sitting in the front row, little tails wagging in anticipation of your complimentary lapdog biscuit at the end of the meeting.

    A full banking licence is announced, but hey one of the fine print lines says HNZ need twice as much capital on the books to take the same risks as other banks. And oh yes the board of the bank hasn't been strong enough but a few more people with industry experience should satisfy the reserve bank requirements when they finally take their seats. Let's just hope those on the bank board in the meantime haven't made a hash of things....

    I wonder when this learner licence period for HNZ will end?

    SNOOPY
    Great post Snoopy! And I would be there if I could.

  5. #1805
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    Suggestions please on how the Fonterra saga will play out.
    My view is a reduction next year in the payout to farmers, following on from this year of drought.
    Which will result in farmers needing a bit of finance.

  6. #1806
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    Better word the letter very well else the small shareholders might get the impression they are not wanted

    There's an awful man who wants to steak your shares but we know you don't really want to sell them but anyway let us buy them anyway a a fair ( but hugely discounted) price because we are good guys. Wil they wonder if they are being conned again? What's the trap?

    Might be a proactive exercise but just doesn't seem to send the right message to shareholders.
    Last edited by winner69; 12-08-2013 at 08:12 AM.

  7. #1807
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    Good god ....documents hardly plain English are they?

  8. #1808
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    Quote Originally Posted by winner69 View Post
    Better word the letter very well else the small shareholders might get the impression they are not wanted

    There's an awful man who wants to steak your shares but we know you don't really want to sell them but anyway let us buy them anyway a a fair ( but hugely discounted) price because we are good guys. Wil they wonder if they are being conned again? What's the trap?

    Might be a proactive exercise but just doesn't seem to send the right message to shareholders.
    I think the letter is worded rather well, and no they are not buying them at a hugely discounted price.

    The price per Share which you will receive for your Shares will be determined by dividing the total proceeds of the Shares sold under the Plan on the day on which your Shares are sold by the total number of Shares sold under the Plan on that day.
    HNZ are not buying the shares. Rather they are pooling them and placing them on the market so the shareholder avoids brokerage fees.

  9. #1809
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    Yeah I got that bit but after being bombarded with unsolicited offers to steal your shares here is another unsolicited offer to take the shares off your hands ...at market price.

    The hugely undervalued comment was winding Percy up.

    So mrs jones thinks she needs to accept this unsolicited offer because it has come from the company and is heaps mor official looking and gets hnz to broker the sale of them. In a few months time they go to 1 dollar ....mrs jones will not be happy will she ...when selling wasn't even on her mind.

  10. #1810
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    Very Noble but the maximum of 10,000 seems a bit high. Brokerage costs are reasonably efficient at that level.
    Free delivery worldwide with Book Depository http://www.bookdepository.co.uk

  11. #1811
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    I guess it is hard to word the offer, without it being seen as investment advice. Hopefully one of the journo's picks this up and spins the appropriate slant on it.

  12. #1812
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    Quote Originally Posted by turmeric View Post
    Max of 10,000 not min though right? So those with small holdings will benefit.
    Yes.

    Minimum holding requirement is 500 per NZX rules (can be force to sell if under that) so that should clearly be covered.

    At current shareprice (86c) if they had set the maximum at 5000 shares, that would be $4,300. That is probably the right level.

    Setting it at 10,000 means those who hold upto $8,600 worth. That can be sold for less than $60 (ASB telephone rate) and even lower if they have an internet broking account.

    They have set the limit now so no point arguing where they should have set it (sorry for bringing up). Overall it is a positive thing and should clean up the bottom part of the register a bit.

    I wonder why they have done it though - they aren't the first company to be targeted and no other company that has been has offered a similar scheme.

    I also wonder since have obviously gone to some cost in doing this, whether they should have done a compulsory sale for those with less than 500 shares at the same time. (that would probably send the wrong message so can see why they didn't but from a practical perspective, is a missed opportunity).

    Disc: Holding (10,000 shares incidentally)
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  13. #1813
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    Possibly Heartland is taking advantage of an opportunity to reduce the number of small shareholders, which no doubt cost the company.

  14. #1814
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    Will hats off to HNZ,being proactive and doing the right thing to help small shareholders receive full value for their shares.
    Good on you HNZ.

  15. #1815
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    Quote Originally Posted by percy View Post
    Will hats off to HNZ,being proactive and doing the right thing to help small shareholders receive full value for their shares.
    Good on you HNZ.
    I thought full value was way north of 85 cents

    Oh bugger another 100 trees to plant as punishment for being cheeky

  16. #1816
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    Quote Originally Posted by percy View Post
    Will hats off to HNZ,being proactive and doing the right thing to help small shareholders receive full value for their shares.
    Good on you HNZ.
    Suppose they have quite a few small holders on the books from the PGC (wash your mouth out with soap) business where 2000 shares ended up 500 odd of two companies which added together ended up a lot less. Stuck with the Heartland though. Wrote the other one off.

  17. #1817
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    I commend Heartland for doing this. I think they are genuinely trying to protect smaller holders from these vultures. Unfortunately I think it will not work unless they send offers to the postal addresses of the affected shareholders as they are unlikely to be reading NZX announcements. If they were, they wouldn't be considering selling into the offers.
    But furthermore, I think Heartland is the first listed company subjected to these offers, that actually stands up and sends a signal to the vultures that they are not going to get away with it without a fight, something the FMA should be doing with much more vigour.

  18. #1818
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    It will be interesting to see how many accept. I assume they will be sold on-market so it could have an impact on the shareprice. Could be a bit of selling pressure:

    As at June 30, 2012, some 4,747 shareholders owning 4.2 percent of the company held parcels smaller than 10,000 shares, according to Heartland's annual report. At today's price of 86 cents, that's about
    $14.2 million of shares
    , and implies broking fees of some $140,000 at $30 per transaction.

    Head of treasury and strategy Craig Stephen said about 4.6 percent was held in the qualifying parcels.
    Average turnover is under $200k per day.
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  19. #1819
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    Quote Originally Posted by belgarion View Post
    Prelude to a capital raising via a nicely discounted rights issue? Here's hoping...
    Now you have me going around in circles. A share buyback as a prelude to capital raising? Isnt that just taking from peter etc. Dilution v undilution. One way of cleaning up the register I suppose and stopping shares being accumulated cheaply from the uninformed but a lot of paperwork one would have thought.

  20. #1820
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    Quote Originally Posted by majorbarejet View Post
    Now you have me going around in circles. A share buyback as a prelude to capital raising? Isnt that just taking from peter etc. Dilution v undilution. One way of cleaning up the register I suppose and stopping shares being accumulated cheaply from the uninformed but a lot of paperwork one would have thought.
    It is not a share buy back. As Banksie pointed earlier up the thread:
    Quote Originally Posted by Banksie View Post
    HNZ are not buying the shares. Rather they are pooling them and placing them on the market so the shareholder avoids brokerage fees.
    Free delivery worldwide with Book Depository http://www.bookdepository.co.uk

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