2CC - 2 Cheap Cars Group

[lorraina]

as at the date of this notice, Sena & Co has received acceptances under the Offer
which, when aggregated with the voting rights already held or controlled by Sena &
Co, equals 88.450% of the voting rights in 2CC. 

As Sena & Co only need another 1.55%... 706,095 shares to achieve 90% it looks as though the take over will go ahead.

[Basil]

IMO this saga isn't over.

I'd put a stop on those extra popcorn shipments you have coming in if I was you.

[Plata]

Whilest it's a shame to see another listing leave the NZX and lose what I had hoped would be a juicy and growing dividend payer, I cannot complain about getting an immediate large return of COLD HARD CASH. It isn't as if there aren't any other equally if not more compelling opportunities out there. Sounds like shorting popcorn producers could be the next big play.

[Basil]

Whilest it's a shame to see another listing leave the NZX and lose what I had hoped would be a juicy and growing dividend payer, I cannot complain about getting an immediate large return of COLD HARD CASH. It isn't as if there aren't any other equally if not more compelling opportunities out there. Sounds like shorting popcorn producers could be the next big play.

LOL, yeah I don't think the local cinema's will have any trouble getting popcorn supplies now.   You're dead right about that mate, some with a very long history of strong growth trading on very similar forward metrics.  Its good to see that hard work and common sense is highly likely to prevail.

[Basil]

https://api.nzx.com/public/announcement/480685/attachment/477979/480685-477979.pdf

90%+ shareholding level achieved.

[Plata]

So 5th of October we get paid is that right? 5 business days later?

[Basil]

Sena and Co has satisfied condition 4.1 of the takeover offer and now has 2 working days, (clause 4.8 declaration of unconditionality) to declare if the other conditions set out in clauses 4.2 and 4.3, (financing and other force majeure type clauses) are satisfied before declaring the offer unconditional or not, which I expect will happen on 30 September.

Its then 5 working days from there for people who have accepted already so the payout to most people will be 7 October if the takeover offer is declared unconditional on 30 Sept.

The holdout's who refuse to accept and drag the chain past the final closing date of 9 October and then get mopped up in a compulsory acqusition process are only hurting themselves in terms of delayed settlement.

[Otago K]

Sena and Co has satisfied condition 4.1 of the takeover offer and now has 2 working days, (clause 4.8 declaration of unconditionality) to declare if the other conditions set out in clauses 4.2 and 4.3, (financing and other force majeure type clauses) are satisfied before declaring the offer unconditional or not, which I expect will happen on 30 September.

Its then 5 working days from there for people who have accepted already so the payout to most people will be 7 October if the takeover offer is declared unconditional on 30 Sept.

The holdout's who refuse to accept and drag the chain past the final closing date of 9 October and then get mopped up in a compulsory acquisition process are only hurting themselves in terms of delayed settlement.

Yes, but too be patently clear the way I see it to wait for the remaining Sena & Co Ltd confirmations by 30 September will still give a week to acknowledge acceptance, even if I am seen as a laggard to accept this say Thursday it might delay my remittance by a day if that.

[lorraina]

Sena & co's takeover offer is now unconditional and payout for those who have already accepted should be next Wednesday the 7th October.

[lorraina]

Received payment today.
A day early.

[Fiordland Moose]

Received payment today.
A day early.

Congrats lorraina. It was a marvel to watch you spotting the rebound opportunity, backing yourself, getting the stock, enjoying the dividends and now this relatively rare liquidity event for a position as large as yours. A stunning investment for you, well deserved and no surprises to anyone that has followed you. Well done!

Now the high class problem of what to do with it but have every confidence you'll find a high quality home for it.

[Otago K]

Received payment today.
A day early.

I have also receipted it, I had accepted 3pm on the 30th September so pretty quick settlement. Thanks.

[lorraina]

Congrats lorraina. It was a marvel to watch you spotting the rebound opportunity, backing yourself, getting the stock, enjoying the dividends and now this relatively rare liquidity event for a position as large as yours. A stunning investment for you, well deserved and no surprises to anyone that has followed you. Well done!

Now the high class problem of what to do with it but have every confidence you'll find a high quality home for it.

Thank you.
Very lucky getting the liquidity event.
And yes will be a lot of fun recycling some of the funds,although I am nervous about the out look for NZ shares.

[Fiordland Moose]

Thank you.
Very lucky getting the liquidity event.
And yes will be a lot of fun recycling some of the funds,although I am nervous about the out look for NZ shares.

you aren't alone there!

[Basil]

Forward FY28 PE for Turners is only 12.2 based on average broker forecasts. Seems cheap and about a PEG of 1 based on Tina era growth rate.

Seems like a logical home to me for some of the cash.

Wild card is extended effects from the wars. Some companies seem to be navigating that better than others. Turners doing okay.