TRA - Turners Automotive Group [previously TNR - Turners Limited]

[ronaldson]

Thanks Ronaldson, would they have the liquidity to be in the nzx50?

Agree with Alekhine's post above. I believe index inclusion criteria takes account of "free float" only and that all shareholdings in Turners qualify as such.

The last Annual Report, for FY23, indicates a spread of over 4800 shareholders. The Chairman, Grant Baker, has 7.44% via Montezmolo Holdings Limited, Director Alaister Petrie 12.24% via Bartel Holdings Limited and Director Mathew Harrison 7.47% via Harrigens Trustees Limited and other family interests. These shareholdings may be both beneficial or as trustee. Even Todd Hunter, CEO, has almost 1% so there is plenty of skin in the game.

[winner69]

Another lot of Directors jumping on the gravy train craze and wanting big pay increase

That Strategic Pay outfit must be creaming it these days …….changing a few numbers in a standard template at regular intervals and no doubt charging an arm and a leg for ‘coming up’ with a good number

Another NO vote from me ..but they won’t care

http://nzx-prod-s7fsd7f98s.s3-websit...114/398950.pdf

[Sideshow Bob]

Another lot of Directors jumping on the gravy train craze and wanting big pay increase

That Strategic Pay outfit must be creaming it these days …….changing a few numbers in a standard template at regular intervals and no doubt charging an arm and a leg for ‘coming up’ with a good number

Another NO vote from me ..but they won’t care

http://nzx-prod-s7fsd7f98s.s3-websit...114/398950.pdf

Sounds like they are taking a page from the McKinsey playbook......

First thing they say are the board/senior management are underpaid and behind the market etc.

So they keep getting employed and those hiring them know what they are going to say.

No, no, no, I'm not a cynic!

[Rawz]

did us shareholders get a payrise this year? i dont really follow the dividends tbh, its just money that turns up in my account.

[Sideshow Bob]

did us shareholders get a payrise this year? i dont really follow the dividends tbh, its just money that turns up in my account.

Last 4 quarterly divvies were 23c total. 4 quarters before that was 22c total. That's about a 4.54% increase....

[winner69]

did us shareholders get a payrise this year? i dont really follow the dividends tbh, its just money that turns up in my account.

No pay rise for this year rawz …they used word ‘flat’

And the 40% increase they after is greater than dividend increase from when they last increased their pay

[ronaldson]

I read the 17 page report from Strategic Pay. I don't begrudge some increase but will vote against the proposal for a 38.3% increase to $920k in total.

While I have proxied to NZSA under all hats for holdings I manage I will take back the proxy in this instance and vote NO. Of course, I don't know what NZSA are intending to do currently so that may not be necessary. I will wait and see.

[Sideshow Bob]

Might be different if Tina was getting a 38.3% payrise too......

[winner69]

When they sent the notice of ASM in 2018 saying they need a pay rise the TRA share price was $2.91

Share price up 24% since then ….and they want a 38% pay rise …whose kidding who

NO from me

[winner69]

Trusty old RBNZ inflation calculator says $665k in Q3 2018 is now $799k

Using the Wage Inflation bit it $824k

And they want $920k

Somebody mention greedflation or similar term the other day

But Strategic Pay say they deserve it and of course top calibre people as well