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Thread: Seeka

  1. #321
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    Quote Originally Posted by bull.... View Post
    17 - 18 cps ? div
    I agree based on what RTM said above that DPS for FY18 based on the increased number of shares and their guidance is likely to be 16-18c. But like RTM says, what exactly are they going to use the funds for, apart from a significant amount of it going on debt reduction, which they must do. Their debt is too high at the moment but the sale of orchards in Northland will also help reducing that burden.

  2. #322
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    Quote Originally Posted by iceman View Post
    I agree based on what RTM said above that DPS for FY18 based on the increased number of shares and their guidance is likely to be 16-18c. But like RTM says, what exactly are they going to use the funds for, apart from a significant amount of it going on debt reduction, which they must do. Their debt is too high at the moment but the sale of orchards in Northland will also help reducing that burden.
    50m from issue and 10m from sale gives 60m in cash , i reckon 24m on debt reduction as its in current liabilities and the rest on capital expenditure and growth initiatives. aus probably needs alot of the cap i reckon.
    one step ahead of the herd

  3. #323
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    Quote Originally Posted by bull.... View Post
    50m from issue and 10m from sale gives 60m in cash , i reckon 24m on debt reduction as its in current liabilities and the rest on capital expenditure and growth initiatives. aus probably needs alot of the cap i reckon.
    That makes sense. Agree Australia probably will gobble up a significant amount. I will wait on the sidelines until I see real progress in Aussie.

  4. #324
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    At 16 - 18 cents per share dividend on the increased share count, that's an increase of 21-36% in the dividend. From what they say they are spending the money on....I am just not seeing where this is going to come from. I feel they should have provided some clarification on this.


    I think I will ask the company.
    Appreciate the comments.

    RTM

  5. #325
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    Quote Originally Posted by RTM View Post
    At 16 - 18 cents per share dividend on the increased share count, that's an increase of 21-36% in the dividend. From what they say they are spending the money on....I am just not seeing where this is going to come from. I feel they should have provided some clarification on this.


    I think I will ask the company.
    Appreciate the comments.

    RTM
    thats a max div if you take 75% of the npat forecast they are saying of 6.5 - 7.2 in this current yr.
    i used 7m for my working. in reality it could be less if they dont get the increased earnings. i think last yr it was a payout of 66% of npat

    they dont give a npat tax forecast for 2019?

    this is what they are saying

    For FY2019, Seeka is targeting EBITDA of $27.5 million to $28.5 million,
    assuming:
    - Expected increases in kiwifruit volumes in 2019 (in particular gold
    kiwifruit).
    - Normal operating conditions across Australia and New Zealand.
    - Any material change in guidance will be advised to the market through NZX.
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  6. #326
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    Quote Originally Posted by iceman View Post
    That makes sense. Agree Australia probably will gobble up a significant amount. I will wait on the sidelines until I see real progress in Aussie.
    im waiting too to re - enter. aus operations with all the orchard development will take 3 - 5 years they say to really start producing serious income. also the northland assets need work so all in all a while for them too really start making seriously more npat and increased divs
    one step ahead of the herd

  7. #327
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    Quote Originally Posted by bull.... View Post
    im waiting too to re - enter. aus operations with all the orchard development will take 3 - 5 years they say to really start producing serious income. also the northland assets need work so all in all a while for them too really start making seriously more npat and increased divs
    OK...thanks all for the comments and help with my analysis. I think on balance I will be going ahead with my allocation of shares. 16 - 18 cents per share div seems about right on the numbers we have....not a disaster at share prices from $4 - $5...and fingers crossed they deploy the money well for growth in the future.

    Cheers,
    RTM

  8. #328
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    Oh dear - only 34.1% of new shares taken off by optionholders. The rest goes today into the auction, but the additional over-subscriptions are far lower than the remaining (unsold) shares:

    https://www.nzx.com/announcements/328140

    Bad time to rise new capital. Lucky for them the rights issue was fully underwritten.
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  9. #329
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    Yes BP not a vote of confidence. Glad to be looking on from the sidelines for now.

  10. #330
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    yep next few years looks like bedding in there aquisitions / plantings little growth
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