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- TRA - Turners Automotive Group [previously TNR - Turners Limited]
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07-10-2018, 12:32 AM
#3191
Originally Posted by winner69
Byrnes not a car salesman either ......at least how he tried to sell a few at the end of the AGM
Not a good effort at all ...but we’ll forgive him, after all he’s an accountant
I wasn’t impressed by Paul Byrnes an the ASM. I thought he was defensive and dismissive.
In fact, the directors generally, I found quite unimpressive.
As for big brother Chairman Baker listening in with full vocal ability but not saying a word by way of introduction or explanation? Just plain creepy.
Ive done well out of TNR and it’s earlier iteration and have sold down at well above $3 but I’m now very tempted to sell the rest and move on.
Last edited by biker; 07-10-2018 at 12:37 AM.
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07-10-2018, 08:30 AM
#3192
Originally Posted by biker
I wasn’t impressed by Paul Byrnes an the ASM. I thought he was defensive and dismissive.
......
Dismissive a good description. Even Beagle didn’t even get a satisfactory answer to one of his well thought out questions
Fluffed his response to diversity big time.
Here’s a big NZ company CEO talking about diversity of thinking
https://m.youtube.com/watch?v=UwtjpsACvM0
Last edited by winner69; 07-10-2018 at 08:32 AM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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07-10-2018, 01:01 PM
#3193
Originally Posted by Beagle
The other thing I have been pondering that I am not entirely comfortable with is that they admitted at the annual meeting that it had been a tough Q1. Funny thing is they had this huge national roadshow of rah rah revving things up and nothing was mentioned then about a tough Q1 back then even though Q1 had already happened. Further, when I asked Todd Hunter at the first meeting of that roadshow how Q1 had gone he was very dismissive and shut me down very quickly and wouldn't give any insight whatsoever. I think they knew things hadn't gone that well in Q1 at that time, they just didn't want to tell.
Turners aren't in the habit of releasing quarterly results. This was a roadshow and, as such, answering a question about first quarter performance without simultaneously releasing that information to the NZX, would probably have breached NZX rules. I agree that Todd would most probably have known the first quarter was below budget, whatever that means. April to July is the 'winter quarter', traditionally not the best for motor vehicle sales. It would be interesting to know by what measure they were below budget, given there is not public record of first quarter results. As a shareholder I am much more interested in the full year result, rather than look for micro-trends that may have no meaning in a full year context.
Percy, regarding your post directly above, let me be clear, I think there are good grounds to believe the bond conversion price was somewhat "engineered".
I have to admit arbitraging between the value of head shares and bonds (being an owner of both) over the conversion year was a strategy I contemplated. In the end I didn't do anything. But as both a bond and shareholder, can you 'hand on heart' say that you didn't contemplate the same?
SNOOPY
Last edited by Snoopy; 07-10-2018 at 01:08 PM.
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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07-10-2018, 03:38 PM
#3194
Originally Posted by winner69
Pull ya head in!. You posted that on another thread and we end up getting our thoughtful and thought provoking posts pulled by the STMOD. Just because you post it here does not change my view.
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07-10-2018, 08:00 PM
#3195
There's nothing more diverse than an individual.
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07-10-2018, 08:23 PM
#3196
I have to admit arbitraging between the value of head shares and bonds (being an owner of both) over the conversion year was a strategy I contemplated. In the end I didn't do anything. But as both a bond and shareholder, can you 'hand on heart' say that you didn't contemplate the same?
Snoopy
I sold some shares at $ 3.16 knowing I'd get them back later and hoping it would be for less, and indeed it was quite a bit less. It wasn't in big volume and I doubt it affected the market.
Someone was working the market really hard in September and definitely affected the conversion price especially the big dump of 600K shares at $2.80. Whether they were arbitraging or manipulating the market, or both, I will let people decide for themselves. It happened last time the bonds converted too so I am not surprised. In fact every time the company goers to the market for any form of capital raise the SP comes under serious pressure.
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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07-10-2018, 08:25 PM
#3197
Originally Posted by JohnnyTheHorse
There's nothing more diverse than an individual.
Especially if that individual has multiple personality disorder.
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07-10-2018, 09:31 PM
#3198
Originally Posted by winner69
Dismissive a good description. Even Beagle didn’t even get a satisfactory answer to one of his well thought out questions
Fluffed his response to diversity big time.
Here’s a big NZ company CEO talking about diversity of thinking
https://m.youtube.com/watch?v=UwtjpsACvM0
I lasted 1 minute and 40 seconds into that speach, that is 1 minute and 40 seconds of my life I can never get back
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08-10-2018, 10:05 AM
#3199
Lots of lovely divvies coming up.Lol.
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08-10-2018, 10:07 AM
#3200
TRA
08/10/2018 10:01
CORPACT
PRICE SENSITIVE
REL: 1001 HRS Turners Automotive Group Limited
CORPACT: TRA: TRA declares higher quarterly dividend/re-affirms guidance
8 October 2018
Turners declares higher quarterly dividend and re-affirms guidance
The Board of Turners Automotive Group Limited (NZX: TRA) has declared the
first quarterly dividend for the 2019 financial year of 4 cents per share,
fully imputed, with a record date of 23 October 2018 and a payment date of 30
October 2018.
In addition, the Board advises that it expects to declare a further two
quarterly fully imputed dividends of 4 cents per share in January and April
2019, followed by a fully imputed final dividend of 5 cents per share in July
2019.
Chairman Grant Baker said: "The ongoing positive performance of Turners
Automotive Group allows for increasing distributions and we are targeting a
minimum FY19 full year dividend of 17 cents per share (up 10% on FY18). Based
on a share price of around $2.90, this represents an annualised yield of 5.9%
fully imputed."
This dividend payment profile is consistent with the Company's policy of
paying dividends totalling 50% to 60% of Net Profit after tax to shareholders
and enables the company to balance the twin objectives of providing
consistent and reliable dividend returns to shareholders and ensuring
sufficient profits are re-invested in the business to underpin future profit
and dividend growth".
At the recent Annual Meeting, the Board reaffirmed its previous profit
guidance for FY19 of a Net Profit before Tax of between $34 million and $36
million, the mid-point representing a 13% increase over FY18.
Turners CEO, Todd Hunter, said: "Turners has never been in better financial
shape, with a conservative equity ratio and an improved diversified funding
platform to support growth. The investments we are making into people,
property and our businesses will deliver further benefits in the second half
and we are seeing positive momentum in the company. Our confidence in our
strategy and long term prospects remains at high levels."
ENDS
About Turners
Turners Automotive Group Limited is an integrated financial services group,
primarily operating in the automotive sector www.turnersautogroup.co.nz
For further information, please contact;
Todd Hunter, Chief Executive Officer, Turners Automotive Group Limited Mob:
021 722 818
Media Liaison and Assistance: Jackie Ellis, Mob: 027 246 2505
End CA:00325001 For:TRA Type:CORPACT Time:2018-10-08 10:01:04
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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