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- TRA - Turners Automotive Group [previously TNR - Turners Limited]
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18-09-2018, 12:52 PM
#2931
Back in 2013 the Chairman's fees were $72k and Directors were $44k, this is for the old Dorchester Pacific which already ran there finance, insurance and debt collection businesses.
So 5 years down the track with the addition of the 'selling cars business' they want a 108% increase for the Chairman and 70.5% for the directors!
Since their last fee raise in 2015 when the Chairman got a 34% increase and Directors 10%, the 3 year return for SH's is just under 6% p.a (given you purchased around the AGM at $2.75). This is most likely a negative return if you have purchased since then at a higher price.
If the "boards focus is on creating shareholder value" then they have failed the last 3 years IMHO. What type of organisation rewards failure with a 36% pay rise?
On top of this, if resolution 5 is passed. Then it is back dated to 1 April 2018!
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18-09-2018, 01:33 PM
#2932
The continuous smashing of any reasonable sized bid suggests something is seriously amiss here. If there's a profit downgrade at the annual meeting I will be asking the NZX and FMA to investigate who has been selling in recent weeks.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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18-09-2018, 01:40 PM
#2933
Originally Posted by Beagle
The continuous smashing of any reasonable sized bid suggests something is seriously amiss here. If there's a profit downgrade at the annual meeting I will be asking the NZX and FMA to investigate who has been selling in recent weeks.
Agree entirely, what baffles me more is that with so much selling over past few weeks, still yet to sight any SSH notice.
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18-09-2018, 01:48 PM
#2934
Roadshow started 2 July. Something about the presentations, perhaps, market not liking
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18-09-2018, 01:50 PM
#2935
Originally Posted by minimoke
Roadshow started 2 July. Something about the presentations, perhaps, market not liking
More likely the presenters .....not convincing punters the story is for real and more than just buzz words and pretty pictures on a slide
Interesting reading the post meeting comments on here ...good raw material for my mate at the LSE Behavioural Finance faculty
Last edited by winner69; 18-09-2018 at 01:52 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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18-09-2018, 02:10 PM
#2936
Originally Posted by Beagle
The continuous smashing of any reasonable sized bid suggests something is seriously amiss here. If there's a profit downgrade at the annual meeting I will be asking the NZX and FMA to investigate who has been selling in recent weeks.
Beagle maybe it's time to watch once more the clip you posted some time ago about the demise of Kodak and the horse and cart. Is it possible some people are looking ahead not at the next couple of years but maybe 5 years plus. Maybe this company got more downside risk as some on this forum allow for.
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18-09-2018, 02:21 PM
#2937
Originally Posted by forest
Beagle maybe it's time to watch once more the clip you posted some time ago about the demise of Kodak and the horse and cart. Is it possible some people are looking ahead not at the next couple of years but maybe 5 years plus. Maybe this company got more downside risk as some on this forum allow for.
Timely reminder forest that self driving electric cars will be a reality at some stage in the future. Not sure when or how they will cope with N.Z. roads but I agree that this is coming at some stage in the future which kind of makes this the opposite of the retirement industry which has long term tailwinds. Maybe a PE of 10 is all its really worth ?...about $3, assuming the current year's plans are still tracking okay ?
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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18-09-2018, 02:37 PM
#2938
page 15 Turners annual report for year ended 31st march 2018...………
………………………………………….Fy.14...…….Fy.15...…..FY16...….FY 17...…..FY 18.
Earnings per share...………...20cps...….33cps.…….24.7cps...25.5cps .…...29.3cps.……….average growth 10% pa.
Dividends per share...………. 4cps...… 10cps...…….13cps......14.5cps......15.5cps...And paid quarterly.!
All going the right way.The business bulk up is set to produce excellent rewards for shareholders.
Just need the sp to catch up,and everybody will be happy.?
Last edited by percy; 18-09-2018 at 02:40 PM.
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18-09-2018, 02:42 PM
#2939
Originally Posted by percy
All going the right way.The business bulk up is set to produce excellent rewards for shareholders.
Just need the sp to catch up,and everybody will be happy.?
I hope the AGM can help explain how the SP will catch up when its currently heading in the opposite direction
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18-09-2018, 02:46 PM
#2940
You are not alone.
I think the directors with so much skin in the game will be feeling the most pain.
Maybe that's why they need the big increase in fees..???....lol.
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