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[sharechat] Hirequip - What's your view now?

From:	<philip@goodreturns.co.nz>
Date:	Tue, 23 Mar 2004 21:36:18 +1200

Earlier this year Hirequip was tipped as a big mover by several posters to this forum, however its shareprice has dropped back a bit in recent months.

I see this announcement today:

Hirequip New Zealand Limited ("the Company") advises that the industrial sites owned by the Company and which had been put up for sale last month subject to lease back have all been sold.

The Wanaka property sold for $1.1 million (plus GST) at a yield of 5.45% to a private investor.  The properties at Stoke and New Plymouth sold to a joint venture in which the family interests of Stuart McKinlay, a director and substantial security holder of the company, has a 50% interest.

The Stoke property sold for $2.4m (plus GST) at a yield of 7.23% p.a.  The New Plymouth property sold for $1.93m (plus GST) at a yield of 8.70% p.a.

What are your views on the stock now?

Philip

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Re: [sharechat] Hirequip - What's your view now? tennyson@caverock.net.nz

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