Thanks Patient Panda - really appreciate it.
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Do Ryman still have plans for that site in Newtown next door to Countdown and just down from the funeral home?
That Rita Angus in Kilbirnie must be leaky as. Always seems to have scaffold up and cladding guys clambering around.
The Melvina Major building seems to be taking forever
Just a few observations from travels around Wellington
RYM could buy up AOG Aveo which is discounted by 44% to NTA due to poison chalice Mulpha owning 22% and negative publicity in 2017(still facing a class action).
AOG mkt cap re A$1.3 billion with 13,000 residents in 89 villages
Commencement of Strategic Review
Im holding a few AOG
would be highly unusual as they’ve never done an acquisition before to the best of my knowledge but of course, possible. Edit; actually on second thought they might’ve done an acquisition or two in their early days back in early 2000’s.
generally speaking they prefer to grow organically to preserve the Ryman culture and have things done the Ryman way.
No chance of that happening in my opinion. Ryman do things the Ryman way, always have and highly likely they always will and they really put a huge emphasis on valuing the Ryman culture. With steady organic growth there no reason whatsoever to go out on a limb and buy some underperforming Australian operation riddled with Australian culture. Why would you pay big money to grab a crocodile by the tail ?
Yes i agree.I think Mulpha is the only real buyer atm ,but what a bargain price atm !:eek2:.Will see what the strategic review throws up or if any other contenders appear. 4traders have av target price of $3.18, current price $2.26
You could also argue Met lifecare is an absolute bargain from an NTA value standpoint but IMO in this industry intangibles are king.
Yes MET hasn't performed for years , i just dont know why , its been a value trap for sure.