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  1. #21
    Member sharer's Avatar
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    DTB: welcome to ST discussions, as i notice it's your first logged post.
    You have raised an important point (tho i doubt the wisdom of rushing off for a Court determination as a first strategy).
    I agree with W69's comment above. It seems so obvious that Perpetual cannot possibly be an independent trustee in relation to Marac when each is owned by the same uber-entity, that we have to wonder what they are all up to, and why they might think we are all so stupid they think they will get away with it. Want to bet on yet another infestation of so-called "chinese" walls as an excuse for imminent transparent roguery?

  2. #22
    Speedy Az winner69's Avatar
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    Quote Originally Posted by COLIN View Post

    The George Kerr development is an interesting one though. I actually hold shares in the unlisted EPIC No. 1 which is a PIE entity set up by Kerr to acquire, via Macquarie Bank entities, a small indirect interest in Thames Water in the UK. The holding structure is quite convoluted, as one would expect with Macquarie, but the tax-effectiveness means that the dividend yield is around 15%. EPIC has also recently acquired, again via Macquarie, a 17% interest in Moto, a UK motorway services area operator; those who have travelled on British motorways will know how exhorbitant the prices are when one stops for a coffee and sandwich at these monopolistic spots.
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    I read he is after more of your money Colin

  3. #23
    Speedy Az winner69's Avatar
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    PGC down to all time low (I think) at 140 .... with buyesr at 130

    Some weekend press around EPIC and other associated Kerr / PGC activities and a few getting a bit touchy

  4. #24
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    Quote Originally Posted by winner69 View Post
    I read he is after more of your money Colin
    I might even toss him a bit, W69, for the Moto investment.
    However, financing Marac's bad debts would be another matter.

    (Incidentally, I think you made some comment on some thread, a week or two ago, about all the investing fun we had in the early 80's, after Roger Douglas threw the doors and windows wide open. It prompted me to dig out my old Investments Register, for a nostalgic trip. What a list! Remember names like Prorada Properties, Omnicorp, Impala Pacific, Renouf, Rainbow Properties (turned $2,500 into $6,845 in one month on those, and I don't think they had even bought any properties by then!), something called Cashcorp Holdings(can't remember what they did, and they probably didn't know either!), another called Further Developments Ltd (!!!!!), and so the list goes on. (And I had completely forgotten that in those days I had held shares in NZ Oil & Gas, Cue, and Kupe. ) Great days. And then it all turned to custard - I think BIL was my greatest loss.)

  5. #25
    Speedy Az winner69's Avatar
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    Sounds like an opportunity not be missed - esp for the retail investor

    http://www.nbr.co.nz/article/pgc-ass...vestors-107326

  6. #26
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    Quote Originally Posted by winner69 View Post
    Sounds like an opportunity not be missed - esp for the retail investor

    http://www.nbr.co.nz/article/pgc-ass...vestors-107326
    Why would you invest in a fund that invest in other funds? All those fees and low to negative returns. You will have to be a mug to buy into this one.
    Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.

  7. #27
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    Quote Originally Posted by winner69 View Post
    PGC down to all time low (I think) at 140 .... with buyesr at 130

    Some weekend press around EPIC and other associated Kerr / PGC activities and a few getting a bit touchy
    What was the guts of last weekends press?
    Death will be reality, Life is just an illusion.

  8. #28
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Steve View Post
    What was the guts of last weekends press?
    It was a week or so now but the Sunday Star times had a couple of stories about all the shuffling around of assets .... and that that EPIC fund seemed to have management fees etc .... and that no doubt quite a bit of cpaital would need to be raised and all that of stuff

    Fridays close of 137 is pretty low isn't it... makes the market cap of the whole shooting match a miserly $127m ... not much for the company that owns one of NZ strongest (so they say) finance companies eh
    Last edited by winner69; 16-08-2009 at 07:06 PM.

  9. #29
    Speedy Az winner69's Avatar
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    Geez wayne ... down to 115

    Even the press have noticed
    http://www.stuff.co.nz/business/mark...on-uncertainty


    Like the bit ......analyst said the company's future had been clouded by uncertainty but that the financial pressure PGC was under might have been over- played.

    Wonder where the uncertainty came from?

    Talk of an issue of 200 million new shares and offer shareholders the opportunity to buy two new shares for each share held, at a price of 80c a share.

  10. #30
    Speedy Az winner69's Avatar
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    Press getting stuck into PGC again .... probably totally uninformed and making up stuff that doesn't really exist

    However a good old stoush in the boardroom is often a good thing

    Maybe part of Kerrs big plan to get control of the lot .... first of all get rid of those old fashioned buggers on the board.

    Would have to be a bit worried if this was really Kerr's intent (though it seems to be if his carry on with the EPIC funds is anything to go on) - (quote) It is understood he sees PGC aggressively pursuing the success of fund management firms like Sydney-based Macquarie Group, nicknamed "the millionaires' factory".

    Geez Mr Kerr - even Macquaries have admitted that the Macquarie Model is broke

    Never mind ... maybe this guy Kerr is cleverer than Macquaries



    PGC board split on future direction

    http://www.stuff.co.nz/business/mark...ture-direction

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