VIL - Veritas Investments Limited

[percy]

ANZ's problem remains.

[winner69]

Veritas is not using Grant Samuel to value Mad Butcher?

Strange that the directors are using another outfit when Grant Smauel valued Mad Butcher at between $42m to $48m when it was bought by Veritas 4 years ago!

Or maybe, not so strange?

Grant Samuel too busy working on the Trilogy valuation I believe.

Wonder what that will come in at?

[Sideshow Bob]

Probably not exactly a long queue of buyers, but interesting selling to a Veritas director - how does that process and conflict of interest work? Interesting that he thinks that after being a director of the company running the Butch, he can do better by owning it?

Dis: Never have, and never will be a shareholder

[Rep]

Two quotes:

“There’s only one Alan Bond in your life!” Kerry Packer

“They need to take a good hard look at themselves” Sir Peter Leitch

[Beagle]

Its hard to believe they can keep up the charade of a listing with a straight face. Quite obvious this is in a managed wind down, even said as much in a behind the paywall article on NBR the other day. Anyone who thinks there's any value remaining in this company for shareholders would be better off believing that Santa really does come down their chimney with the presents. Whoever is bidding for ~ 300,000 shares at 5 cents must like making $15,000 donations. ANZ calling ALL the shots and hoping to minimize their losses in my opinion. If you have a really old car with a completely knackered engine you take a few hundred dollars from the scrap metal merchants rather than just letting it rust to nothing on your driveway. Same principle applies to selling penny dreadfuls.

Pity the annual stock picking competition doesn't allow us to go short on some stocks, this would be a guaranteed winner !

[peat]

Pity the annual stock picking competition doesn't allow us to go short on some stocks

Careful, you'll have Couta in a rage.

[Hectorplains]

https://www.stuff.co.nz/business/101...lier-thousands

Not Veritas anymore but another train wreck... in the same train. Sucks if the cleaners have not been paid... likely they can afford least to sustain that loss of income. Let's hope no one else decides to have a crack at riding this dead horse.

[percy]

Retail requires someone who puts customers first ,has first rate suppliers, and great staff,and has the capital to achieve the business's goals.
A retail business needs good margins to pay its huge overheads.
Short change customers,suppliers,staff,landlord,or IRD,etc and he will be history very quickly.
With no background in this type of business, his chances of success are slim.
Watch out for a cheap SRT8.

ps.
Retail
1st year.....loss.
2nd year....breakeven.
3rd year.....modest profit.
If you are lucky,reasonable profit in year 5.

Above posted 10-11-2017.
Aaron Drever did not surprise anyone.

[Hectorplains]

https://www.nzx.com/announcements/317253

ANZ are allowing them to linger a little longer. Who on earth would want to pick up refinance funding for this?

"This extension was agreed to enable the Veritas Board to continue its active discussions with a new funder regarding a refinance of the Veritas group’s ANZ debt facilities in their entirety."

[Rep]

Dead man walking