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03-04-2020, 10:58 AM
#3681
Well they're out of the tech business it would seem:
https://www.nzx.com/announcements/351239
Highlights:
THL retains rights to the assets in Fleet, Mighway in ANZ and telematics
Takes over TOGO's shareholding in Outdoria
Get $6m from Thor, a $600k dividend for up to 4 years and Thor can buy the rest of the business for $20m
THL doesn't have to put any further money in
Last edited by mondograss; 03-04-2020 at 10:59 AM.
Reason: Fix link
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03-04-2020, 11:19 AM
#3682
Originally Posted by mondograss
Well they're out of the tech business it would seem:
https://www.nzx.com/announcements/351239
Highlights:
THL retains rights to the assets in Fleet, Mighway in ANZ and telematics
Takes over TOGO's shareholding in Outdoria
Get $6m from Thor, a $600k dividend for up to 4 years and Thor can buy the rest of the business for $20m
THL doesn't have to put any further money in
Anyone with an idea of how much of a loss THL will take from exiting this business?
Was less than a year and half ago that TOGO was going to help shape the digital future of THL!
https://www.newsroom.co.nz/2018/10/2...out-of-tourism
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03-04-2020, 11:55 AM
#3683
According to the interim report, their net interest in TOGO was $43m and that's taking into account the $22m loss they've recognised against it already. I guess they're getting some of their assets back again plus the money from Thor assuming it gets bought out but yes they've lost a lot.
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03-04-2020, 12:48 PM
#3684
Originally Posted by mondograss
According to the interim report, their net interest in TOGO was $43m and that's taking into account the $22m loss they've recognised against it already. I guess they're getting some of their assets back again plus the money from Thor assuming it gets bought out but yes they've lost a lot.
Very expensive fishing expedition. Looks like the caught a couple of tiddlers.
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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03-04-2020, 12:51 PM
#3685
Originally Posted by Beagle
Very expensive fishing expedition. Looks like the caught a couple of tiddlers.
This must be the fourth time that THL went overseas and come back to NZ with tails between its legs!
Never learn.
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03-04-2020, 06:58 PM
#3686
As a previous shareholder who really backed THL a few years ago, the way they have gone recently really disappoints me. A few years ago they were tracking nicely, had good direction and were well and truly heading towards 50m NPAT.
Then suddenly they took a very different path, investing millions into a loss making digital business, entering and struggling in the highly competitive USA market, and then attempting to sell a successful NZ tourism business. Then they have gone about trying to adopt a new FIT busines model whilst their profits were going backwards.
Added to this increased risk and exposure they continued to increase debt and pay out large dividends, higher every year. If they didn't raise capital recently they would of been in serious strife.
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04-04-2020, 12:17 PM
#3687
Originally Posted by JeremyALD
As a previous shareholder who really backed THL a few years ago, the way they have gone recently really disappoints me. A few years ago they were tracking nicely, had good direction and were well and truly heading towards 50m NPAT.
Then suddenly they took a very different path, investing millions into a loss making digital business, entering and struggling in the highly competitive USA market, and then attempting to sell a successful NZ tourism business. Then they have gone about trying to adopt a new FIT busines model whilst their profits were going backwards.
Added to this increased risk and exposure they continued to increase debt and pay out large dividends, higher every year. If they didn't raise capital recently they would of been in serious strife.
Totally agree. They have really lost their way and still are in very serious strife. They're presently uninvestable in my opinion.
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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17-04-2020, 01:38 PM
#3688
Junior Member
Has been making a good come back, what are peoples thoughts at the current prices? Lots of domestic travel coming up after lock down?
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17-04-2020, 03:25 PM
#3689
Originally Posted by maccadac
Has been making a good come back, what are peoples thoughts at the current prices? Lots of domestic travel coming up after lock down?
Its completely price action buying by institutions difficult to draw conclusions from it about future cash flows tbh
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17-04-2020, 03:37 PM
#3690
Originally Posted by maccadac
Has been making a good come back, what are peoples thoughts at the current prices? Lots of domestic travel coming up after lock down?
Domestic travel will happen, yet many people will stay local because they simply won't have the same money to travel etc.
It will be very rough for the tourism industry if you have little cash reserve and high expenses. Cut expenses. Cut the thrills and offer value for money. There will be hard competition. It Flying a helicopter and jetboat needs numbers to pay the way of the operators overheads.
Bike trails will be a hit. Yet, less travellers, less income. It is going to be a very tough summer in 2020-2021 imo
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