Thank you Couta1 for being "right on the money."
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Yes it is quite weird... not sure where Forsyth get their numbers from... I to look forward to (and hope!) Oceania lists, as it will provide a better comparison (retirement village vs retirement village rather than retirement village vs property development company)
From a bit by Chris Lee on the Ryman thread -
It may also provide hope for Arvida and Oceania, both of which have shareholders who simply want to exit what has been a very lean business model.
Chris Lee doesn't get it does he t_j - its about a transfer of riches to a new breed of investors eh
TJ has to be the least convincing company-sponsored poster on this site. Hilarious.
This, from the NZ Herald business article on McCaw today:
"The bulk of McCaw's holdings were rolled up and floated on the NZX in late 2014 as Arvida. According to an analysis of the company's prospectus and various rest home shareholding lists filed with the Companies Office, it appears McCaw's stake in Arvida stood at just under 1 per cent at the time it listed in late 2014. While a small stake, its value was nonetheless considerable, with Herald calculations suggesting it was worth in excess of $2.5 million.
Subsequent shareholding lists filed by the retirement home operators to the Companies Office appear to show McCaw has since sold down his holdings. A November disclosure showed McCaw's remaining stake stood at just 105,000 shares, worth around $107,000 at last week's prices."
The escrow period then would appear to have already ended. The rest of the article presents McCaw as a 'smart' operator.
The escrow period was supposed to be the 30th of may. I've been waiting for this date, expecting a drop due to increased supply... However the SP ran away about a week ago from its meandering 90s.
I wanted in on this due to diversity in the sector, but am not a fan due to the words management have used around growth - feels like they're tired and not striving to dominate the market. I figured after escrow I might get a bargain, looks like that's not happening. Can't really see a good reason other than low interest rates for recent SP moves.