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17-10-2017, 03:00 PM
#1021
insto bought in in ASX!!
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17-10-2017, 03:12 PM
#1022
Originally Posted by King1212
insto bought in in ASX!!
Yes, NAB bought thro' BNZ on NZX....they paid top dollar too $2.96 a piece for their 23Mln shares.
Funny though, no notification on NZX only on ASX, wonder why...
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17-10-2017, 03:26 PM
#1023
Originally Posted by sb9
Yes, NAB bought thro' BNZ on NZX....they paid top dollar too $2.96 a piece for their 23Mln shares.
Funny though, no notification on NZX only on ASX, wonder why...
On the NZX now. Good vote of confidence
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17-10-2017, 07:04 PM
#1024
Member
So looking at the detail of the NAB notification - bought the first 200k @ $2.10 back in Aug. (I remember that day when it spiked through $2.00, then dropped back to low 1.90s). Then 8 mio at $2.96! ?? I don’t think 8 mio have even gone through at that level or above, have they? I’m which case the executing broker FNZC, might be quite short still and scrambling to cover if it pops above $3 mark again!
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17-10-2017, 10:01 PM
#1025
I think we should be reading more into this. This is a large bank. PPH is a payment company. Banks offer payment services among other things. It could just be coincidence that a bank wants to take a stake in a payments company, but it could definitely be something more... partnership? Potential take over?
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17-10-2017, 10:28 PM
#1026
Member
I think it unlikely that the bank is the ultimate owner. More likely they are acting as a custodian for a fund manager somewhere. NAB was the largest custodial bank in Australia until recently. Still a good sign though, I believe.
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18-10-2017, 07:29 AM
#1027
Member
What to make of this announcement the other day then? Coincidence that it relates to 8m shares?
Does this mean Eliot Crowther is using the 8m shares as security for a loan to go buy a Ferrari?
"Change in Relevant Interest - Eliot BarryCrowther and Crowther Trustee Limitedhave entered into a Letter of Advice anda Loan Facility Master Agreement dated29 September 2017 and a SpecificSecurity Agreement dated 4 October2017 with Bank of New Zealand underwhich Eliot Barry Crowther andCrowther Trustee Limited granted asecurity interest over 8,000,000 sharesin Pushpay Holdings Limited held byFNZ Custodians Limited as custodianfor the Crowther Family Trust and theproceeds of those shares in favour ofBank of New Zealand as security forpayment of a loan facility."
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18-10-2017, 09:59 AM
#1028
Originally Posted by Longhaul
What to make of this announcement the other day then? Coincidence that it relates to 8m shares?
Does this mean Eliot Crowther is using the 8m shares as security for a loan to go buy a Ferrari?
"Change in Relevant Interest - Eliot BarryCrowther and Crowther Trustee Limitedhave entered into a Letter of Advice anda Loan Facility Master Agreement dated29 September 2017 and a SpecificSecurity Agreement dated 4 October2017 with Bank of New Zealand underwhich Eliot Barry Crowther andCrowther Trustee Limited granted asecurity interest over 8,000,000 sharesin Pushpay Holdings Limited held byFNZ Custodians Limited as custodianfor the Crowther Family Trust and theproceeds of those shares in favour ofBank of New Zealand as security forpayment of a loan facility."
I think that is just a coincidence that the 8m shares volume line up. The announcement says BNZ/NAB now holds over 14m shares and it says that they paid cash of $23.7m on 11/10/2017 for the 8m shares they bought, the statement above is mearly that the 8m shares are being used as security for a loan.
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18-10-2017, 12:40 PM
#1029
Member
My take is that Crowther borrowed against the shares, rather than sell them. They probly only lent him 50% so he must be quite bullish.
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18-10-2017, 03:04 PM
#1030
Member
Oh and I think the 8 mio shares isn’t a coincidence but an off-market transaction between Crowther and BNZ. So not meaningful to the price action.
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