THL - Tourism Holdings

[Basil]

Pretty much in line with your thoughts Mos but I'd probably choose the words "very weak and slow" to describe the used camper market.  The board and management have no track record of meeting previous grandiose profit growth targets.   They're trying to make the case this is a strong growth company.  The evidence says its a cyclical no growth tourism company.  Goodness me they were $1.30a couple of months back before corporate action started, the same price as they were 10 years ago.  Where's the growth ?

[Ricky Bobby]

I see from the announcement today that there are still on-going discussions... have added 6 months to the timeframe tho!

[Left Field]

Boom! Takeover offer @ $3.10

https://www.nzx.com/announcements/473532

Holders should be happy!?

[BlackPeter]

Boom! Takeover offer @ $3.10

https://www.nzx.com/announcements/473532

Holders should be happy!?

Highly conditional proposal ... but sure, if it goes ahead its much better than yesterdays SP.

At the end it depends on the future development of flight shame and a lot of highly unpredictable global issues. Will the big pink monster baby making the US unvisitable go or fade away? What are the chances of WW3? What will be flying cost in the coming years?

Anyway - we planned recently a NZ holiday and considered as well to rent a campervan, but hey - the campervans cost so much more than taking a rental car and going into a good hotel instead ... 

Looks like, they lost me as a shareholder (due to US monster baby) as well as a potential customer ... but hey, all the best to holders!

[Left Field]

Anyway - we planned recently a NZ holiday and considered as well to rent a campervan, but hey - the campervans cost so much more than taking a rental car and going into a good hotel instead ...

I held THL about 2015 when they had just expanded into the USA (THL had purchased  El Monte RV's as I recall.)

Then we hired one of their USA RV's for a 1 month holiday. Big mistake. Both the RV and the service were terrible.

Sold my shares soon after and have never held since.

[Minimoke]

Looks like another company about to leave the NZX. They have had an offer at $3.30 - $3.40.

Currently trading at $2.90, up 13%

https://www.investdirect.nz/app/news/urn:dt:7391039

[BlackPeter]

Looks like another company about to leave the NZX. They have had an offer at $3.30 - $3.40.

Currently trading at $2.90, up 13%

https://www.investdirect.nz/app/news/urn:dt:7391039

Not sure, whether your linkworks (its hidden under Investdirect), but here is the public news:

https://www.nzx.com/announcements/474990

and - behind a paywll on the herald:
https://www.nzherald.co.nz/business/companies/tourism/tourism-holdings-receives-additional-higher-741m-takeover-offer/premium/RRUHFHHUG5GCDONU4LKDAFJILQ/

[Crackity]

Portuguese company Indie Campers is said to be the new mystery bidder for Tourism Holdings, with a $616 million buyout proposal.


AFR this afternoon - make of that what you will......

[Shareguy]

Portuguese company Indie Campers is said to be the new mystery bidder for Tourism Holdings, with a $616 million buyout proposal.


AFR this afternoon - make of that what you will......

Yes might be some money for the traders looking at the sp.

[Southern Lad]

Portuguese company Indie Campers is said to be the new mystery bidder for Tourism Holdings, with a $616 million buyout proposal.

Thanks Crackity - Indie would certainly add some competitive pressure on the BGH/Trouchet consortium.  Indie seem to be growing rapidly in NZ so might run into some regulatory hurdles requiring divestment of any sectors of the market where the combined dominance was too great.

Indie was the purchaser THL's UK business when they sold it off a few months back.

Note the $616 million mentioned in the AFR is A$.  Based on 221.2 million shares on issue, the mid point of their NBIO of $3.35 comes in at NZ$741 million.

[Basil]

Yes might be some money for the traders looking at the sp.

That crossed my mind but there's an elephant lurking in the room.  2 non binding indicative offers is exactly that and maybe only 1 of them is deadly serious and has the means to execute.  Any major reescalation in the Middle East could easily see both parties running for the hills.

[Shareguy]

That crossed my mind but there's an elephant lurking in the room.  2 non binding indicative offers is exactly that and maybe only 1 of them is deadly serious and has the means to execute.  Any major reescalation in the Middle East could easily see both parties running for the hills.

FB latest says

The new offer is much closer to what we expect is the board's assessment of intrinsic value, and we have raised the probability of a transaction completing to 75%