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COA, COATES HIRE LIMITED
david_j_c
post Posted: Oct 3 2007, 12:44 PM
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In reply to: snapper on Tuesday 02/10/07 05:02pm

From SMH today:

"But unlike the previous offer, the $6.59 bid will be propped up by a 53c fully franked special dividend Coates will pay its shareholders on completion of the deal.

It will not include the 11c final dividend Coates is due to pay its shareholders today."

Even so, I'm underwhelmed as well. I haven't looked into the details yet but my feeling is that there is no takeover premium. With a P/E of 17 COA is a bit higher than average, but not much and it has quite good growth prospects.





 
Visionary
post Posted: Oct 2 2007, 06:48 PM
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In reply to: snapper on Tuesday 02/10/07 05:02pm

Hi snapper,

With the overall market up over 20% since the 'prime' debarcle I think the offer is a little underdone - maybe $7 closer the mark. This could still be the case as the scheme of arrangement has to be approved by 75% of shareholders, so I'm sure the hedgies are going to make them squirm a bit to get it over the line. Think back to Qantas and leave alone the fact of the late hedge fund acceptance, the principal will be the same here. Now the other side of the coin with a low offer is the door is open for the friendly offer to be trumped by one of the others that had the data room access and sees the current market sentiment right to make a hostile bid.

Now the flip side is reading the fine print of NHR release is that Coates current largest shareholder with around 5% will pick up circa $80m from the deal and he is going to reinvest that into NHR AT $3 per share costing $86m to own 19.9% * .47 (NHR economic interest in NED) = 9.4% of a far larger pie..... Not bad to double your $80m stake for a lousy $6m eh??????

Spotting this I quickly picked up some NHR at $2.05- $2.08 to see a nice finish at $2.47 today. Surely if he is going to fork out $3 a share to get his 19.9% thats the new target price on NHR stock. Consider also where else in the market you could go 'neck to neck' with private equity - you can here by having a stake in NHR? Carlyle will own 53% and NHR 47% of NED.

Cheers,
Visionary
DYOR



 
snapper
post Posted: Oct 2 2007, 05:02 PM
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In reply to: MadDingo on Thursday 06/09/07 11:51am

G'day
Well what do other holders of COA think of todays announcement ?
UNDERwhelmed is my opinion
makes a big deal of the final dividend being included in the final offer total
WELL you don't have too be Warren Buffett to see that including that in the total is a bit dodgy as the dividend is payable tomorrow 3rd Oct and the announcement was only today
SO how could it be any other way ?
too late to stop it now
The cheque is in the post so to speak .
and not all that improved in the offer recently knocked back
So I am left thinking what else is in the fine print
I will watch for further comments in the forum and media
If anyone gets a report or opinion from their broker please share them , nothing from my sources yet
Garry

 
MadDingo
post Posted: Sep 6 2007, 11:51 AM
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G'day all Coates followers,

Coates Hire announces rejection of a revised offer of $6.29 on an ex-dividend basis for the Company.

And so they should! Well done Independent Board Committee.

Don't be swayed by highly conditional, artificially inflated, cum dividend, hypothetically trumped-up franking credit value adding nowhere near the ball park figure bids for the company.

It's good to see Coates are still focused with their 'Sweep & Plug' strategy.

Sweep undervalued bids into bottomless pit and Plug securely.



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MD

 
Ratfink
post Posted: May 1 2007, 05:10 PM
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Hi all,

It seems like COA is another company that cannot release market sensitive information before the insiders have a chance to insider trade. COA up mysteriously up 3.7% today followed by an after market close announcement re private equity interest.

Surely the board knew this info earlier.

There's no such thing as a level playing field.

 
MasteR
post Posted: Apr 22 2007, 12:22 AM
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In reply to: daggie on Monday 09/04/07 05:54pm

Hi COAers,

I'm buying in for my Super. Fully franked and in for the Long Term.

R/MasteR
wink.gif



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"Chance favours the Informed Mind"
 


daggie
post Posted: Apr 9 2007, 04:54 PM
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In reply to: vinky on Saturday 07/04/07 10:52am

Vinky,
maybe COA and BOL, COF are becoming unloved and unpopular at the moment. I am sure there is an answer to the sp slide, but unfortunately I don't know it. Yes, sometimes various investment houses make recommendations and the opposite happens. I remember buying CSM being highly recommended by Huntley's and look what has happened. Hopefully it will improve. I bought quite a few BOL on the recent sp slide. Cheers icon14.gif

 
vinky
post Posted: Apr 7 2007, 10:52 AM
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ohmy.gif Can anyone explain the recent slide of this share in the last few weeks??? As it was highly reccomended(Rifkin,Huntley)

 
jaolsa
post Posted: Feb 26 2007, 09:44 AM
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bought a stake in coa this morning.....sell down a tad overdone imo.

coa goes ex-div on 19/3 - 10c/share.

 
RADIO
post Posted: Sep 5 2006, 12:39 PM
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user posted image

Recent ShareScene.com Radio Broadcast (Mon, 21 Aug 2006 9:00AM):

Full Year Results for 2006 Mr Malcolm Jackman, Executive Director, Managing Director, CEO

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.

-------------------------------------------------------------------------------------------------------------
ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.
-------------------------------------------------------------------------------------------------------------

 
 


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