PGW - PGG Wrightson

[sb9]

Yesterday's close was $2.25 so 50 cents above that.
And Ghee Whiz we have just recently received the nice divie.
We certainly live in interesting times.

Wonder if this triggers any SSH notice. Will be interesting to see..

[iceman]

Yesterday's close was $2.25 so 50 cents above that.
And Ghee Whiz we have just recently received the nice divie.
We certainly live in interesting times.

Couldn't help myself and got a few more this morning. We sure are watching an interesting development !

[tim23]

Wonder if this triggers any SSH notice. Will be interesting to see..

Above 5% they will be required to file notice.

[Snoopy]

Above 5% they will be required to file notice.

H&G (that's the Cushing's family firm) have filed a notice. But did they sell or did they buy?

SNOOPY

[mfd]

The seller was REL on the unlisted market, selling a bunch of the shares they picked up last year for a tidy profit + dividend. Maybe they think there'll be some cheap farms going soon or maybe they just had an offer they couldn't refuse. Wonder who the buyer is...

[sb9]

The seller was REL on the unlisted market, selling a bunch of the shares they picked up last year for a tidy profit + dividend. Maybe they think there'll be some cheap farms going soon or maybe they just had an offer they couldn't refuse. Wonder who the buyer is...

Yes that'll be of big interest, who is it? Someone very keen and with deep pockets as they paid 50c premium to previous day's closing price.

[Snoopy]

The seller was REL on the unlisted market, selling a bunch of the shares they picked up last year for a tidy profit + dividend. Maybe they think there'll be some cheap farms going soon or maybe they just had an offer they couldn't refuse. Wonder who the buyer is...

Pretty dismal milk price forecast for next season, $5.60 or something? Did REL need to sell to shore up their own balance sheet?

SNOOPY

[mfd]

Pretty dismal milk price forecast for next season, $5.60 or something? Did REL need to sell to shore up their own balance sheet?

SNOOPY

Perhaps, I thought they had a bit of a war chest from farm sales but maybe they needed a little more.

[Snoopy]

Perhaps, I thought they had a bit of a war chest from farm sales but maybe they needed a little more.

Just had a look through some of the REL announcements.

15-08-2019 Through on-market trades, REL acquired 72,238 PGW shares.

16-08-2019 Through on-market trades, REL acquired 27,035 PGW shares

29-08-2019. REL has this week acquired 2,842,736 shares in listed rural services company PGG Wrightson Limited (PGW). The shares that represent 3.766% of PGW’s shares on issue,

17-04-2020. Rural Equities Limited has this morning sold its parcel of 3,158,313 PGG Wrightson Limited shares.

However, the single sale through the market was reported as being for 5,628,450 shares. (from Stocknessmonster)

In AR2019 for PGW, H&G Limited (the Cushing family investment vehicle) was reported as holding 2,006,732 shares. Add that figure to the shares that Rural Equities sold and you still don't get 5,628,450. (that means that H&G had been increasing their holding since the PGW balance date too?).

But it does look like both H&G and Rural Equities have both now sold out of PGW. That is the only way I can make sense of the figures. Will David Cushing stay on the PGW board I wonder?

SNOOPY

[percy]

Perhaps, I thought they had a bit of a war chest from farm sales but maybe they needed a little more.

Be interesting to see where they recycle their funds.
Astute investors.