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  1. #791
    Advanced Member
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    Apr 2008
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    Kerikeri
    Posts
    2,468

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    Our local paper is head lining as follows:

    "$!20m development to bring jobs
    A developer is set to build a $120million 200 villa and serviced apartment retirement village in Kerikeri."
    1/3 page article follows. I'll post a link when I can.

    Disc: Not a holder, but thought you'd all like to know.

  2. #792
    Guru
    Join Date
    May 2015
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    2,601

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    Quote Originally Posted by dabsman View Post
    Looks like things are proceeding in an orderly manner

    Arvida Group Limited (NZX:ARV) is pleased to announce the close of its fully
    underwritten 1 for 5.7 pro rata renounceable rights offer announced on 25
    June 2019, with strong shareholder support.

    Approximately 69.0 million new shares were taken up by shareholders,
    representing approximately 86.5% of the new shares available under the rights
    offer. This represents gross proceeds of $79.3 million.

    The new shares taken up under the rights offer are expected to be allotted on
    22 July 2019.

    Shortfall bookbuild
    Approximately 10.8 million shares out of a total rights issue offer size of
    79.8 million shares are available for the shortfall bookbuild component of
    the offer, to be conducted by Forsyth Barr Limited and Jarden Securities
    Limited as Joint Lead Managers. The bookbuild will be conducted today.

    Shareholders who did not take up their full entitlements in the rights offer
    will receive a pro rata share of any positive difference between the
    shortfall bookbuild price and the application price for new shares of $1.15
    per new share. There is no guarantee that any value will be received from the
    shortfall bookbuild by eligible shareholders who did not take up their full
    entitlement.
    Basically the exact same take up rate as in October 2017... also the same issue price in October 2017 rights issue as well... Big difference I suppose was back in October 2017, share price was around $1.20... now its around $1.40... The book build price back then was $1.215... I doubt we'll be so lucky and get shares that cheap this time round, but we should find out soonish.
    Last edited by trader_jackson; 17-07-2019 at 03:26 PM.

  3. #793
    Guru
    Join Date
    May 2015
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    2,601

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    Quote Originally Posted by trader_jackson View Post
    Basically the exact same take up rate as in October 2017... also the same issue price in October 2017 rights issue as well... Big difference I suppose was back in October 2017, share price was around $1.20... now its around $1.40... The book build price back then was $1.215... I doubt we'll be so lucky and get shares that cheap this time round, but we should find out soonish.
    https://www.nzx.com/announcements/337775

    $1.35! Wow demand must have been high (for the shortfall bookbuild) to clear it at that price, one could buy on market for just a few cents more, or even a few cents less during when the rights issue was opening... quite the contrast to another company - THL - where take up of rights issue shares was almost 20% less than ARV and I doubt the short fall book build will be anywhere near as strong.

    I a bit annoyed... I wanted a better bargain than $1.35, but then again $1.35 is cheap compared to what some analysts think... although those analysts must be wrong because they also have far too high target price of sum other companies in the retirement sector...
    Last edited by trader_jackson; 18-07-2019 at 07:54 AM.

  4. #794
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    17,222

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    WOW indeed.
    I was thinking incredible.
    Well done to you, and other shareholders.

  5. #795
    Guru
    Join Date
    May 2015
    Posts
    2,601

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    The wow-ness continues... I have checked computershare this morning and noticed I only got 60% of the shares I had applied for in the shortfall bookbuild... the demand must have truly been insane for this to happen! Or maybe I had some bad luck? Anybody else able to say if they were impacted by scaling at all?

  6. #796
    Go The Warriors "This Year!"
    Join Date
    Mar 2017
    Location
    Auckland
    Posts
    277

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    Quote Originally Posted by trader_jackson View Post
    The wow-ness continues... I have checked computershare this morning and noticed I only got 60% of the shares I had applied for in the shortfall bookbuild... the demand must have truly been insane for this to happen! Or maybe I had some bad luck? Anybody else able to say if they were impacted by scaling at all?
    Yep me too. Got almost exactly 60% of what I applied for in the shortfall...
    Not too disappointed with that. Was expecting it to be scaled back.

  7. #797
    CEO, NZ Shareholders Association
    Join Date
    May 2017
    Location
    Wellington
    Posts
    593

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    Also 60%. A bit like Benny1, I expected some scaling.

  8. #798
    Member
    Join Date
    Apr 2017
    Posts
    442

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    I got about 90% but I only applied for about the same level as my rights

  9. #799
    Senior Member
    Join Date
    Nov 2009
    Posts
    746

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    I got 51% but I applied for a lot more than my rights.

    I still haven't had a refund of the money I deposited yet. Has everyone else had a refund of the excess amount?

  10. #800
    Guru
    Join Date
    May 2015
    Posts
    2,601

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    Quote Originally Posted by tango View Post
    I got 51% but I applied for a lot more than my rights.

    I still haven't had a refund of the money I deposited yet. Has everyone else had a refund of the excess amount?
    Hmm, some interesting numbers being thrown around... I applied for about a third more (dollar value wise) than my rights entitlement (which I took up in full of course!).
    I have yet to receive the excess amount back.

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