Seeka

[iceman]

yeh thx for quantifying that - I was thinking that was the case

still happy with eps growth tho eh!?

my biggest holding ;+) tho have tended to overpay but despite the vagaries of horticulture I see this as long term resilient. so I enjoy the fruit of the dividends and accept one year they might not be there coz you know stuff happens.

also happy with the corporate side of the business on top of the pure horticultural side.

Yes I added a bit this morning after reading the report. Still nowhere near to what I had a few years ago though.
I'm happy with how this one is sailing now. It is a very different and much stronger business to what it was 2-3 years ago and it would be great to see them using the newly created synergies to become more efficient and grow EPS to further reduce debt and continue to pay moderately decent dividends. I'd also like to see some dividend to SEK from the Australian business which has not been as good as I was hoping.

[Getty]

Using current data, my target price is $6.30, and @ 5% divvie based on current price, keeps me in kiwifruit pavlova.

[iceman]

Using current data, my target price is $6.30, and @ 5% divvie based on current price, keeps me in kiwifruit pavlova.

12 months target ? I'd agree with that.

[Getty]

I say near term, as soon as PSA settlement money arrives.

[nztx]

Yes. fair comment.
16/10/17 17,521,279 shares.
4/5/21 39,430,174 shares, after merger with OPAC.

still pretty good result over that one too -- I'm sharing the pavlova here BTW

still not a lot of shares on issue - obviously merger has seen benefits

not a crumb in sight in the other thread -- the resident snails from over Broken Hill Hobby mine must have got in early ..

[iceman]

While the result and outlook is good for SEK, good enough for me to add a few, we need to be mindful of the tough market condition. This from a newsletter yesterday:

"This week Zespri has released the first forecast for this year’s crop. The forecast is for substantially reduced orchard gate returns per tray, and returns per hectare at the lower end of the earlier forecast ranges. Uncertainty remains in the forecast, with cost pressure shipping issues and foreign exchange movements all contributing to a lower per tray return. Thankfully yields are up and this will remedy the reduction to some extent."

[bull....]

looking good for new highs soon , brought back in a while ago

[nztx]

looking good for new highs soon , brought back in a while ago

hope Getty's SEK pavlova doesn't evaporate before he gets closer to seeing it ..

[bull....]

hope Getty's SEK pavlova doesn't evaporate before he gets closer to seeing it ..

nah getty be looking good. this is a growth stock with growing yield , new highs soon

[iceman]

Yet another acquisition :

SEK
14/09/2021 12:23
TRANSACT
PRICE SENSITIVE
REL: 1223 HRS Seeka Limited

TRANSACT: SEK: SEEKA ANNOUNCES FURTHER KIWIFRUIT ACQUISITION

14 September 2021
SEEKA ANNOUNCES FURTHER KIWIFRUIT ACQUISITION BY AMALGAMATION

Seeka Limited ("NZX:SEK") has entered an amalgamation agreement to acquire
leading Northland kiwifruit business Orangewood Limited ("Orangewood").

Orangewood shareholders are offered 0.6630 new Seeka shares and $1.35 in cash
for every Orangewood share. The issue price for each new Seeka share is $5.33
being the volume weighted average price of Seeka shares traded on the NZX
Main Board over the 10 business days ended 13 September 2021 (all fractions
of Seeka Shares are to be rounded up to the nearest whole number).

The amalgamation consideration values Orangewood net assets at $4.71m. Seeka
will assume approximately $1.84m of debt as part of the acquisition bringing
the total transaction value to $6.55m.

The amalgamation proposal released with this announcement summarises certain
key terms and conditions of the acquisition by amalgamation, including that
the offer is conditional on 75% or more of Orangewood shareholders voting in
favour of the amalgamation at a meeting of Orangewood shareholders intended
to be held on Friday 1 October 2021.

If the Amalgamation becomes effective, up to 639,302 new Seeka shares,
representing approximately 1.6214% of the total number of shares currently on
issue, will be issued on the effective date described in the amalgamation
proposal. No recipient of new Seeka shares is a Director of Seeka or an
Associated Person (as that term is defined in the NZX Listing Rules) of Seeka
or a Director of Seeka.

Orangewood Chair Brad Davies says:
"The amalgamation of Orangewood, which needs capital investment, with Seeka
which has invested in Northland, has available processing capacity and a
proven track record of delivering competitive returns to its growers and
stakeholders, makes sense from every perspective and we recommend it to
Orangewood stakeholders."

Seeka Chair Fred Hutchings says:
"This amalgamation is consistent with Seeka's heartland growth strategy,
further expanding our service delivery in the key Northland region. Seeka
expects the amalgamation will be accretive to shareholders upon full
integration, with the bigger business generating material efficiencies,
synergies and cost savings that will benefit all stakeholders."

The Boards of Seeka and Orangewood unanimously recommended the amalgamation.