Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

3 Pages (Click to Jump) V   1 2 3 >   
 
  
Reply to this topic

PGW, PGG WRIGHTSON LIMITED
plastic
post Posted: Jun 12 2019, 01:51 PM
  Quote Post


Posts: 8,926
Thanks: 280


Still no market response to what the company is saying will be a capital return to shareholders. Maybe the market doesn't believe them.

There should be some response to them paying off the debt at least, but no, nothing they do can make the slightest bit of difference.

Might be time to get bought out.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Dec 17 2018, 08:46 AM
  Quote Post


Posts: 8,926
Thanks: 280


For some reason all the experts now have nothing to say. They must be on a early Christmas break.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Dec 13 2018, 09:17 AM
  Quote Post


Posts: 8,926
Thanks: 280


A sting indeed according to the NBR.

Makes me laugh when you have all these internet number crunches chewing the fat on every micro detail in the accounts in order to come up with a valuation that meets their investment thesi. They spend years on it with their head so far up their ass they can't see the forest for the trees or make a basic sniff test.

I've always wondered what their actual purpose is.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Oct 31 2018, 09:04 AM
  Quote Post


Posts: 8,926
Thanks: 280


Something fishy going on here. Why hasn't the market responded to the capital pay out vote taken yesterday?

Is there a sting in the SEC tail?






--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jun 7 2013, 02:29 PM
  Quote Post


Posts: 8,926
Thanks: 280


I can't understand why there has been no SSH notice issued on last Fridays trades.

Furthermore, the new CEO of LIC pedigree is the same company that brought us Matrix the Bull. The genetically engineered stud that caused cows to have hair and no tails. In the end it was put down and LIC refused to accept liability.

The GE interest will be the factor that brought him to PGW and their seed business.

I just hope he does better in the GE seed business than he did with Matrix the Bull.



--------------------
What did Uncle Mel do to us?

Said 'Thanks' for this post: puke  
 
plastic
post Posted: Oct 16 2012, 12:02 PM
  Quote Post


Posts: 8,926
Thanks: 280


I recall the CEO stating on National Radio the Crafar Farms loans would be settled in October and then the fundamentals would change significantly.

Half way through and we still have nothing.



--------------------
What did Uncle Mel do to us?
 


plastic
post Posted: Oct 5 2012, 12:32 PM
  Quote Post


Posts: 8,926
Thanks: 280


Whats up with PGW's notice of AGM today. Meeting is to held on the 24th of Oct. Statute requires at least four weeks of notice. Here they have given less than three. Add to that there seems to be a mass exodus of the board.

I have seen this happen before. Typically it indicates a board at war with each other over different proposals from different interest groups.

This has all the hallmarks of that being the case. Especially when a PR like this comes out. Worth noting Prime Minister John Key and Finance Minister Bill English head up the Primary Growth Partnership at AgResearch and PGW are co-managers of the Bio-Pacific Ventures fund with AgReseach.

QUOTE
PGG Wrightson gets government backing in $14.6M seeds research
Thursday 4th October 2012


PGG Wrightson, the New Zealand rural services group controlled by China's Agria, has won government backing for a $14.6 million research programme that aims to improve seed quality and plant species.

The government will invest $7.15 million over six years through its Primary Growth Partnership fund in a Wrightson-led initiative to lift animal productivity and reducing environmental impacts, the Ministry for Primary Industries said in a statement. The balance will be picked up by Wrightson and its research partners.

The programme seeks to establish faster and more reliable pasture, increase pasture productivity and persistence, cut greenhouse gas emissions, improve animal health and lower susceptibility to summer droughts.

"Co-funding of these projects by government and industry is what PGP is all about," Primary Industries Minister David Carter said in a statement. "Every New Zealander stands to gain from innovative investment in the primary sector because our food, fishing, fibre and forestry industries are pivotal to the success of the economy."

Wrightson's seeds business was widely seen as the attraction for China's Agria Corp taking a controlling 50.01 percent stake in the company in a $144 million deal. Its agri-tech unit, which has been building its seeds business, increased revenue 3.6 percent to $435 million, though earnings fell 21 percent to $30.1 million in the latest financial year.

Derek Woodfield, PGG Wrightson Seeds general manager of research and development, said the funding will let the company build a suite of new technology to keep New Zealand farmers internationally competitive.




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Sep 25 2012, 11:05 AM
  Quote Post


Posts: 8,926
Thanks: 280


What value does PGW put on their seeds business after this purchase? Devgen still at R&D stage with no commercial revenue from it.

QUOTE
Syngenta AG (SYNN) agreed to buy Devgen (DEVG) for about 403 million euros ($523 million) as the Swiss maker of agrochemicals extends a move into seed products based on biotechnology.

Investors of the Belgian hybrid-rice seedmaker will get 16 euros a share, Basel-based Syngenta said. The price is 70 percent higher than Devgen’s closing price yesterday. The asset will have a “very significant impact” on Syngenta’s $500 million rice business, Chief Operating Officer Davor Pisk said in an interview today.

Syngenta, the world’s largest agrochemical maker, is matching BASF SE (BAS) and Bayer AG (BAYN) with the purchase of a biotechnology company. Devgen offers rice traits that have been engineered to resist disease, as well as other formulas for crop protection. For Syngenta Chief Executive Officer Mike Mack, it’s a bet that Devgen’s technology can be rolled out to eclipse research costs that have so far erased profit.

The Swiss manufacturer is paying a “hefty premium” of 14 times estimated 2013 sales, and “the payback will take many years,” Patrick Rafaisz, an analyst at Bank Vontobel AG in Zurich, said in a note.

Syngenta rose as much as 0.9 percent to 347.50 Swiss francs and was trading up 0.4 percent at 3:25 p.m. in Zurich. The stock has gained 26 percent this year, valuing the company at 32.2 billion francs ($34.6 billion). Devgen soared as much as 68 percent to 15.88 euros and was 67 percent higher in Brussels.


Current ‘Flavor’
“Biopesticides and seeds are flavor of the month,” and “if you don’t have a position in a certain technology, you are going to be locked out,” Anton Ticktin, a partner with the Valence Group investment bank in London, said in a phone interview. “We definitely see there is M&A going forward in this area.”

Syngenta management will give an overview of its strategy and outlook to investors and analysts on Sept. 24 at a capital markets day to be held in India. Devgen already has a presence in that Asian country, as well as in Indonesia and the Philippines.

The deal follows BASF’s announcement yesterday that it plans to buy Becker Underwood Inc. for $1.02 billion as Kurt Bock makes his first major acquisition as chief executive officer with a move into biological seed treatments.


‘Serious’ Bayer
Bayer, which this year purchased AgraQuest for $425 million, has “gotten serious” about investing in rice and wheat, Sandra Peterson, head of the Leverkusen, Germany-based company’s crop-protection unit, said in an interview yesterday.

Syngenta’s offer for Devgen is at a “very attractive and fair price,” and the Swiss company isn’t aware of competing bids, Pisk said.

Major shareholders with about 48 percent of the Ghent-based Devgen’s stock support the deal, Syngenta said. Credit Suisse advised Syngenta on the transaction.

Devgen’s RNAi crop protection business, in which Syngenta invested 22 million euros in May, is still at the research and development stage and has no commercial revenue, Pisk said. The business makes sprays which kill worms that attack carrots and potatoes.

Sales at Devgen totaled 25.5 million euros last year. The operating loss amounted to 6.3 million euros as earnings were burdened by research and development costs.

“We don’t expect in the next couple of years for Devgen to have a high share of our total rice business, but it will grow significantly over the mid-term,” Pisk said.

To contact the reporter on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Sep 5 2012, 03:22 PM
  Quote Post


Posts: 8,926
Thanks: 280


Does the cascade of the dominoes go, PGC to Perpetual Capital Managment to Rotorua Trust Perpetual Capital Fund Ltd to GEN to todays selling out for pittance.

Somehow I would not be surprised given the involvment of Sandy Maier doing another hatchet job again on his investors. The same way he did on South Canterbury Finance.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Aug 31 2012, 12:08 PM
  Quote Post


Posts: 8,926
Thanks: 280


Interesting developments in this since last post with PGC. Wonder what Norgate is up to now.

PGC holders and their lawyers might want to consider what this decision means for them. Something quite monumental I am thinking.

http://www.talktax.co.nz/index.php/2012/08...ustees-allowed/

QUOTE
Posted by Vicki Ammundsen, on August 9, 2012 Print Send to a colleague/acquaintance

The Court of Appeal has overturned the High Court decision in CIR v Newmarket Trustees Limited (2011) 25 NZTC¶20-030 (the liquidations judgment). See Commissioner of Inland Revenue v Newmarket Trustee Limited [2012] NZCA 351

Background

Newmarket Trustees is a corporate trustee that acts for a number of trusts. Newmarket Trustees is insolvent due to unmet tax liabilities in respect of one if the many trusts of which it is a trustee. Despite the company's insolvency, which was not in dispute, the High Court took a pragmatic approach and elected to exercise its residual discretion under s 241(4) of the Companies Act and dismissed the application. Factors taken into consideration by the High Court included the fact that no assets would be realised on the liquidation, there were no other creditors and the costs to the other trusts for which Newmarket Trustees acted if it were necessary for each trust to appoint a new trustee.

Court of Appeal approach

The Court of Appeal disagreed with the approach of the High Court, finding that the factors relied upon did not provide "any sufficiently compelling ground of principle or justice to overcome the general policy of the Companies Act with regard to insolvent companies" (see para 66).

The Court of Appeal took as its starting point, the recognition that the
Court has an overriding duty to esnrue that trusts are properly managed. Further noting that:

  • an insolvent trustee company, like a bankrupt trustee, will normally be considered unfit to be a trustee
  • the appointment or retention of a bankrupt trustee or an insolvent trustee company will not normally be in the best interests of the beneficiaries
  • a fundamental proposition of the law of trusts is that a trustee must be fit to discharge its functions or be liable to be discharged from office
  • wider public interests require the deterrence and removal of insolvent trustees
The Court of Appeal also considered the position in England and Australia and also referred to the fifth paper in the Review of the Law of Trusts, which considers the propriety of trustees servies being offered through trustee companies.

This decision, follows the earlier Court of Appeal decision in CIR v Chester Trustees Limited [2003] 1 NZLR 395.




--------------------
What did Uncle Mel do to us?
 
 


3 Pages (Click to Jump) V   1 2 3 >

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING