GEN - General Capital Ltd

Started by Left Field, Aug 27, 2023, 09:31 AM

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

lorraina


winner (n)

Quote from: lorraina on Jan 16, 2025, 07:19 PMYes I noted that.

And no mention of 'for personal reasons' 😀

Prob hear tomorrow he's joined Heartland lol

Gerald

Wasn't super experienced for a CFO (only 10ish years out of uni?) Hope all these odd happenings aren't related.

A quick look at the last few years seems to show they do ok handling risk, but at the end of the day they are lending to homeowners at >10%, so surely not the greatest credit quality.


Dolcile

The CFO went from being a Senior business Partner at his last role to CFO of a GEN, a listed company.   That's a big step. 

BlackPeter

Quote from: winner (n) on Jan 16, 2025, 07:17 PMOnly started in this role on 1/4/24. ...not that long ago

Not following the company - but why am I not surprised to see the name Bent King related to this saga?  I suppose Brent must have been involved in both the onboarding and the disembarking process?

Ferg


lorraina

#36
Quote from: winner (n) on Jan 15, 2025, 02:02 PMLorraina..... re DMX that Chris Steptoe is a pretty clued up guy .....so General Capital should do well.
Going from today's share price of 24 cents DMX have made 23.6%,....22.44% and 29.7% on their recent purchases/.
Well  done DMX's Chris Steptoe.
On-market purchases of shares as follows:
DMX Capital Partners Limited: 3,500,000 for $685,000 between 3rd January 2025 and 9th
January 2025;
DMX Australian Shares Fund (custodian: HSBC Custody Nominees): 1,333,619 for
$261,719.50 between 3rd January 2025 and 9th January 2025. These shares were subject
to a delayed settlement which occurred on 14th January 2025; and,
Vanward Investments Limited: 2,000,000 for $370,000 on 9th January 2025

ps It looks to me as though NZX are holding back the buyers.I am guessing the share price wants to head back to 30 cents plus.

lorraina

General Capital (GEN:NZ) subsidiary General Finance update
General Capital Limited advises that its subsidiary General Finance Limited, a licensed
Non-bank Deposit Taker, has uploaded its quarterly unaudited report for the quarter
ended 31 December 2024 to the Disclose Register.
General Finance Limited has continued its growth trajectory, with total assets reaching
$196.3 million, an increase of 9% on the 30 September 2024 quarter. The company
also reported a quarterly net profit after tax (NPAT) of $925,541, an increase of 21%
from the previous quarter.
As at 31 December 2024 General Finance held $35.9 million in cash, cash equivalent
and bank deposits. The capital ratio, being the total capital divided by total exposures,
was 17.68% down from 21.78% in the previous quarter as a result of increased
residential lending and the Bridges Financial Services acquisition.
Mr. Brent King, Managing Director, commented on the results, explaining that, as a
licensed Non-bank Deposit Taker, General Finance is required to issue this report
under the Financial Markets Conduct Act 2013.
"This performance underscores the robust and stable nature of General Finance. We
are well-positioned to build on this momentum and continue our growth journey," said
Mr. King.
The information can be found at www.disclose-register.companiesoffice.govt.nz.

lorraina

Quote from: lorraina on Jan 17, 2025, 04:31 PMGoing from today's share price of 24 cents DMX have made 23.6%,....22.44% and 29.7% on their recent purchases/.
Well  done DMX's Chris Steptoe.
On-market purchases of shares as follows:
DMX Capital Partners Limited: 3,500,000 for $685,000 between 3rd January 2025 and 9th
January 2025;
DMX Australian Shares Fund (custodian: HSBC Custody Nominees): 1,333,619 for
$261,719.50 between 3rd January 2025 and 9th January 2025. These shares were subject
to a delayed settlement which occurred on 14th January 2025; and,
Vanward Investments Limited: 2,000,000 for $370,000 on 9th January 2025

ps It looks to me as though NZX are holding back the buyers.I am guessing the share price wants to head back to 30 cents plus.

Surprise,surprise.
 Finished the week at 32 cents..

blackcap

Quote from: lorraina on Feb 01, 2025, 10:40 AMSurprise,surprise.
 Finished the week at 32 cents..


Did you think that latest subsidiary announcement was very positive as well? If anything, 36-40 cents should not be out of the question. Of course the Brent King factor is still around, as is the resignation of the short lived CFO and that is of course a suprise we could do without.

lorraina

Yes the recent updates have been very positive.The momentum is building.
If I "now"  had any criticism of Brent King it would be he is being too conservative,however "now" being that way, I think  that it is very positive for investors and shareholders.Current times are not easy for lenders.
The fact CFO had only been there "a very short time" does not raise any Red Flags for me.
The balance sheet is very strong, good funding,and lending under tight control.
I do not have a target share price,although I agree with you 36-40 cents should not be out of the question.

blackcap

Thanks Lorraina, the quarterly release certainly piqued my interest as the performance was stronger than anything I have seen in quite a while, that being in trying conditions.

I might give Brent a call at some stage and ask him what the story is with the CFO. Often it is a clash of culture and nothing untoward. Sometimes there are other things afoot. What I do like is the strengthening of the board and that has assuaged some concerns.

I will keep accumulating. Got some in the very low 20's a month ago so very happy with that.

lorraina

From DMX's monthly newsletter out today.
The big contributor this month though was NZ-listed General Capital which recovered 49% (following its 36%
decline in December). We discussed General Capital last month, noting its shares had been falling as what turned
out to be a substantial shareholder exiting at seemingly any price. We bought most of their position, paying just
over 19c for the stake and taking DMXAM's interest to 8.5% of the company. Subsequent to our purchase, the
company released its quarterly report which highlighted continued growth in its loan book and profitability that
puts it on track for 4c+ EPS for the year ahead. The bounce back to 32c by 31st January reverses the falls from the
sell down. The additions to our holding, followed by the price rebound over the month make General Capital a top
holding for DMXASF approaching 5% of the Fund.

lorraina

New General Capital Appointment
General Capital Limited (NZX:GEN) is pleased to announce the appointment of Mr. Chris
Dorn as Head of Corporate Finance for its wholly-owned subsidiary, Investment Research
Group Limited (IRG). IRG, an NZX sponsor, specializes in corporate advisory services.
Mr. Dorn brings extensive experience in the corporate advisory sector, having previously
served as Partner and Head of Corporate Finance at Findex, New Zealand, as an
Executive Manager at Capital Solutions at ASB and a Corporate Finance Director at PWC.
Mr Dorn will be specialising in managing sell side transactions for his clients and providing
a cost-effective solutions for those business owners wishing to divest.
Chris Dorn said "I'm very pleased to have joined the General Capital Group in the role of
Head of Corporate Finance. General Capital's growth over the last 5 years has been
outstanding and I am looking forward to working with Brent and the team to help continue
its organic growth whilst also look to acquire businesses complementary with General
Capital".
Brent King, Managing Director of General Capital, said "We are excited that a person with
Chris's experience has joined the organisation and we look forward to him developing the
corporate advisory work of IRG".