Forum Archive Index - September 2003

["Morgy 40" <morgy40@hotmail.com>]

  Yeah, hes the one who ate all the pies

   Regards

   Morgy



>From: "jcurtis@q-ed" <jcurtis@q-ed.com>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: RE: [sharechat] WRI
>Date: Mon, 22 Sep 2003 09:43:24 +0100
>
>Can anyone enlighten me on Norgate.
>
>JC
>
>-----Original Message-----
>From: sharechat-owner@sharechat.co.nz
>[mailto:sharechat-owner@sharechat.co.nz]On Behalf Of
>tennyson@caverock.net.nz
>Sent: 22 September 2003 09:38
>To: sharechat@sharechat.co.nz
>Subject: Re: [sharechat] WRI
>
>
>Hi latham,
>
> >
> > Craig Norgate et al are attempting to puchase 19.5% of WRI
> > currently @145c - (cf 132 close)
> >
>
>If true, this won't come as any surprise to the sharechatters.    I have
>been beating the WRI drum for many months, so hopefully lots of you
>out there will have the shares by now.    Norgate is only following us.
>
>Of course with investment nothing is certain.   So you would have been
>a brave person (albeit now a rich one) if you had sunk all of your
>money into WRI.    But it has been hard to argue that you should be
>*underweight* in WRI at any time over the past year for those who took
>a really close look at the fundamentals.
>
>WRI has been a sitter for some kind of 'leveraged buy in' for months
>now.    Macdunk has been making the point that property is the way to
>go because you can leverage your return by using the banks money to
>buy into housing.   His logic is the right and the same logic now applies
>with WRI.   The dividend will cover the interest on your borrowings for
>buying WRI shares.  This means that if the share price goes up you
>get to pocket the price rise without putting your own capital up.  I
>wouldn't mind betting that any 'Norgate Consortium'  is using exactly
>this strategy.
>
>I wonder how the WRI board will take such a buy in?  For some time
>now I have thought there are too many accountants and lawyers on the
>board, and no-one with a serious marketing perspective.    True,
>Norgate is also an accountant by training.   But I believe he could use
>his dairy industry savvy to give some of today's WRI board the boot up
>the bum they need.    If you think that is harsh, remember that today's
>board are substantially the same lot that presided over the disasterous
>regime of previous CEO 'I've forgotten his name already'.   Four of the
>current seven board members are coming up for their 10 year badges.
>I'd like to see some board level succession planning in the form of a
>few new faces around the board table.  The appointment of Norgate as
>a director would be a good start IMHO.
>
>SNOOPY
>
>discl: hold WRI
>
>
>
>
>
>--
>Message sent by Snoopy
>on Pegasus Mail version 4.02
>----------------------------------
>"Q: If you call a dog tail a leg, how many legs does a dog have?"
>"A: Four.  Calling a tail a leg doesn't make it a leg."
>
>
>
>----------------------------------------------------------------------------
>To remove yourself from this list, please use the form at
>http://www.sharechat.co.nz/chat/forum/
>
>
>
>
>
>----------------------------------------------------------------------------
>To remove yourself from this list, please use the form at
>http://www.sharechat.co.nz/chat/forum/
>

_________________________________________________________________
Frustrated with dial-up? Get high-speed for as low as $29.95/month 
(depending on the local service providers in your area).  
https://broadband.msn.com


----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/