Forum Archive Index - February 2001

["Richard Hooper" <hoop@ihug.co.nz>]

Hi DR

 

Thistle have announced that they are not in any discussion with anyone re: takeovers/ selling /or what ever ...just media speculation it seems ,however Thistle did say that with the price of shares at 158 1/2 pence, the value of Thistle Hotels is worth 764m pounds.

My calculations ...BRY owns 46%  with approx 2Billion shares ..rate of exchange approx 30p to nz$.....this equates to around 50NZC per BRY share...a bit higher than the 34 u stated.

When Thistle were trading at 117p  BRY was 28NZC  now at 157p  BRY should be 41NZc in theory rather than at present 35NZc so there is more risk perceived by the market as they have increased the discount margin .....imho ..as mentioned in ealier posts to sharechat 50NZc for BRY does not seem unreasonable in the medium term  (80% incr from its lows of 28NZc) ...At 50NZc this would still represent a 50+% discount to asset backing. Why is BRY being harshly treated ?....probably because of its past history ..couldnt care a stuff about its shareholders..and its present management perceived to be moving at a speed that would make a snail seem like a road runner ( beep beep,,,zooooooom  :>> ) I have have the feeling that the management is having a holiday at the shareholders expense....They only have a handful of companies in their portfolio ,how hard is that to handle, as most are self managed..This present idea of halving the shares and changing to US $ is to con some poor unsuspecting yanks to boost up the demand for BRY shares ......could be time for shareholders to start shaking the BRY tree ..u never know what might fall out of it ....my opinion... I am hoping for a corporate raider  to take interest that would up BRY price and wake up this rather tired management ....Sir Ron ..where are u when we need u ??????  u are only as old as u feel ... come on  ....give it a go..... if u were 35yrs old this would  be a dead cert for u ..wouldnt it ? .There is a nice profit to be made all round... I hope he is reading sharechat .dont u ?

Cheers

Hoop

 

Disc - own BRY shares

----- Original Message -----

From: DR

To: sharechat@sharechat.co.nz

Sent: Sunday, February 11, 2001 1:34 PM

Subject: Re: [sharechat] Brierleys - Some interesting news (2)

At the closing price of 157p its share of Thistle (45.9%) is very close to the all-up Brierley capitisation at 34c/share without other assets.

D.