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RHG, RHG LIMITED
arty
post Posted: May 15 2013, 03:55 PM
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Quite a peculiar stock popped out of a scan today. Yesterday's long shadow looks intriguing and was the likely cause for today's alert.

Attached Image


Apparently, they're trying to sell their mortgage book so they don't have to keep going for 20+ more years.
weekly chart:
Attached Image





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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
wolverine
post Posted: May 13 2011, 10:03 PM
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In Reply To: wolverine's post @ May 13 2011, 11:52 AM

haha (not really that funny)

Went out at 50c (high 53.5) just to make me feel like a real dipstick. Left plenty on the table today despite being a good trade.



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wolverine
post Posted: May 13 2011, 11:52 AM
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This trade is now closed for me.

Sold them ex-div today for 40c + 79c div + 33c franking + 20c ish offset against cap gains (due to 52c capital loss) = $1.72 over a very low risk entry of 92c

Nice.



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wolverine
post Posted: Apr 28 2011, 11:17 AM
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Buyback canned.

Now a 79c ff div ex-div 12th May, payable 12th June 2011.

The rest of the assets to be realised in an orderly manner by end of 2012 (if I understand it correctly).



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TOO MANY CHIEFS

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wolverine
post Posted: Apr 18 2011, 12:22 PM
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Given that Kinghorn is now going to keep the entity listed then quite correctly the best thing for shareholders to do now is to vote for the buyback and accept or decline the buyback offer by the time it closes.

Shareholders wishing to accept will get their money sooner.

By voting against the buyback the timeline for a buyback in unknown but the actual amount received is the same so there is opportunity cost waiting around while it is sorted out. At this point WAM/Cadence aren't offering any upside now for shareholders who wish to accept.

WAM/Cadence are offering the opportunity for those wishing to remain on the register to change directors which is important for those wishing to remain on the register.

Those wishing to remain on the register believe there is more value than the 88c, then it is also in your interests to get rid of the shareholders whose situation is better suited to taking the money this financial year as it potentially leaves more in the kitty for you later.

I will be voting yes to the buyback unless WAM/Cadence or another higher value offer is placed on the table (without someone offering to buy the loan book in the next few weeks then there is no chance anyone is going to guarantee a higher offer). There is no downside to voting yes for anyone.



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TOO MANY CHIEFS

NOT ENOUGH INDIANS
 
wolverine
post Posted: Mar 31 2011, 10:04 PM
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In Reply To: Cojo's post @ Mar 31 2011, 09:51 PM

If Wilsons can get this through this is the best option on the table at the moment (potential option) and it leaves room to do exactly what you are saying.

I would love to get another 10-15c but I am not keen to see this dragged on another 6mths for personal reasons.



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Cojo
post Posted: Mar 31 2011, 09:51 PM
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In Reply To: wolverine's post @ Mar 31 2011, 08:54 PM

I thought this was worth a little news so did a short blog on the topic, although I'd say this won't be short of coverage over the coming days.

If this goes through, another interesting option is to accept the buy back, and simply buy back in on market should the price remain under intrinsic value. Obviously more worthwhile for the low/non-tax paying individuals or pension phase SMSF.

DYOR.



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wolverine
post Posted: Mar 31 2011, 08:54 PM
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In Reply To: Cojo's post @ Mar 31 2011, 06:55 PM

Thanks cojo, I got the WAM note as it came thru in their substantial holder notice.



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Cojo
post Posted: Mar 31 2011, 06:55 PM
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In Reply To: wolverine's post @ Mar 30 2011, 09:26 PM

Your wish is the institutional investors command.

Have a read of this...Blog from Steve Johnson

Good luck mate.



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wolverine
post Posted: Mar 30 2011, 09:26 PM
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In Reply To: Cojo's post @ Mar 30 2011, 09:14 PM

Yeah thanks cojo, it is a tough read trying to work out what it is worth. Certainly there is no upside for me in being a minority holder of an unlisted entity. Independent opinions are worth nothing more than the paper they are written on. I imagine if the directors are too far out here they may be open to a class action after the fact if they are being selectively and incorrectly pessimistic.

I can cross my fingers that there is room for an alternate proposal but realistically they are worth quite a lot of money to me with the proposed by-back particularly from the large capital loss down to 1c to offset some tidy gains this year.

I can wait to accept so the ball is in the larger institutional holders hands to find another way that pays quickly.



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TOO MANY CHIEFS

NOT ENOUGH INDIANS
 
 


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