Geneva Finance - GFL

[blackcap]

Don't go telling too many people Percy

[nztx]

Agree BUT it will be listing on the " sports " board shortly which have few eyeballs and very little liquidity !

just in time to replace another mob who called in the undertakers over there to finalise their ski slope sweep to the bottom off ASX

[nztx]

Don't go telling too many people Percy

Are they short on dough to pay up for a lazy NZX deckchair or just getting a bit Frank & Francis about announcements on the ins & outs being too visible ?

[Jaa]

You have to be suspicious of an announcement that states changing exchanges will save money without ever actually stating how much money they will save.

[percy]

JLG Just Life Group Ltd have just moved to USX from NZX.They also did not say how much they would save.I would guess both will save well in excess of $250,000.pa.
Same reasons JLG gave also apply to GFL.
Infrequent trading and low liquidity: With The Harvard Group and its associated
persons controlling over 80% of JLG shares, any trading of shares typically occurs in
very low volumes. Therefore the current NZX listing offers little advantage to
shareholders from a liquidity perspective.
• High compliance and governance costs: Maintaining the Company’s NZX listing incurs
substantial ongoing compliance and governance costs that can be significantly reduced
through delisting.

[Sideshow Bob]

Probably paywalled...

https://businessdesk.co.nz/article/f...m_medium=email

[percy]

Probably paywalled...

https://businessdesk.co.nz/article/f...m_medium=email

[FONT="]
[/FONT]

I have voted for the resolutions.

[Jaa]

JLG Just Life Group Ltd have just moved to USX from NZX.They also did not say how much they would save.I would guess both will save well in excess of $250,000.pa.
Same reasons JLG gave also apply to GFL.
Infrequent trading and low liquidity: With The Harvard Group and its associated
persons controlling over 80% of JLG shares, any trading of shares typically occurs in
very low volumes. Therefore the current NZX listing offers little advantage to
shareholders from a liquidity perspective.
• High compliance and governance costs: Maintaining the Company’s NZX listing incurs
substantial ongoing compliance and governance costs that can be significantly reduced
through delisting.

Those costs are very valuable to small shareholders.

Literally you are paying for them to communicate with you and for a level of reassurance that nothing dodgy is going on. That and for increased exposure for the company which drives liquidity and the share price.

Without a $$ value it is hard to judge if those benefits are worth the cost.

[percy]

From today's annual report.
I always feel "comfortable" ie "well positioned" with positive outlooks.

"The Board remains positive that the strategic refocus will provide a clearer direction for
the lending business and as a result its performance should improve even under the
current economic conditions. Lastly, Quests continued growth prospects and enhanced
liquidity position provides a positive outlook for the coming year."

[Ferg]

It appears a couple of directors managed to 'pick the bottom' recently with on-market acquisitions:
https://www.nzx.com/companies/GFL/announcements

And the majority shareholder acquired about 1% of shares. [Edit: thanks Percy - I read that notice backwards!]

Fair point Jaa although I note that GFL have stated their intention to keep shareholders informed quarterly which is more than they currently do on the NZX. Also, in moving away from the NZX my reading between the lines in the GFL annual report is they will no longer have to comply with the diversity and ESG requirements per the noted exceptions to the NZX requirements. In their own words they would rather spend that time focussing on making money. At the end of the day the average shareholder wants dividends and returns, not feel good stuff.