2CC - 2 Cheap Cars Group

[Plata]

On the 28th Sept David can buy on market. I think he will creep his up over the next year or so and then make a final play. I doubt he treats it lightly the prospect of going from a net cash 2CC to a heavily indebted 2CC post takeover, whilst it seems he could potentially get the offer closer to $1 it seems alot lower risk for him to delay. I wonder if minorities will secure a better outcome by becoming a related party block via shareholders agreements or something similar.

[Basil]

On the 28th Sept David can buy on market. I think he will creep his up over the next year or so and then make a final play. I doubt he treats it lightly the prospect of going from a net cash 2CC to a heavily indebted 2CC post takeover, whilst it seems he could potentially get the offer closer to $1 it seems alot lower risk for him to delay. I wonder if minorities will secure a better outcome by becoming a related party block via shareholders agreements or something similar.

Earnings for FY26 could be a LOT higher than FY25, (first half profit seems on track to roughly triple the same period last year), and it could be a LOT more expensive to takeover the company later on.  I'd argue he's better to try and negotiate a mutually satisfactory deal with significant minority shareholders now, get them into a lock-up agreement and see if he can get this over the 90% line with the other shareholders but he probably thinks he knows better so time will tell how this plays out..    What's clear is very few people so far, (incredibly low acceptances to date), think the 80 cents offer is fair and reasonable.

[lorraina]

Trading update

2 Cheap Cars Group Limited (NZX: 2CC) advises that its unaudited management accounts for August 2026 show a net profit after tax (NPAT) of approximately $330,000.

To release processing capacity, improve stock flow and increase sale-ready inventory, periodically the Company disposes of aged or uneconomic-to-repair vehicles via wholesale channels. In August, the net impact of these efforts was a loss of about $70,000 while sale-ready inventory was boosted from ~640 to now over ~720 vehicles.

This brings unaudited NPAT for the first five months of FY27 to approximately $2.32 million.



I note hybrids this morning account for 53.45% of the cars they have for sale today.ie 387 cars out of a total of 724 cars for sale.
This means 2CC is well placed for strong Spring and Summer sales..

[Plata]

Got to chuckle at that email. Someone REALLY wants a new deck.

[Basil]

Trading update

2 Cheap Cars Group Limited (NZX: 2CC) advises that its unaudited management accounts for August 2026 show a net profit after tax (NPAT) of approximately $330,000.

To release processing capacity, improve stock flow and increase sale-ready inventory, periodically the Company disposes of aged or uneconomic-to-repair vehicles via wholesale channels. In August, the net impact of these efforts was a loss of about $70,000 while sale-ready inventory was boosted from ~640 to now over ~720 vehicles.

This brings unaudited NPAT for the first five months of FY27 to approximately $2.32 million.



I note hybrids this morning account for 53.45% of the cars they have for sale today.ie 387 cars out of a total of 724 cars for sale.
This means 2CC is well placed for strong Spring and Summer sales..

$400K normalised is a great result for August which is usually a pretty shitty winter month with few people wanting to venture out onto car yards.  Looking at their stock level they are extremely well positioned for strong spring sales.

[lorraina]

Got to chuckle at that email. Someone REALLY wants a new deck.

What email?

[Plata]

What email?

An open letter to shareholders from some guy, was sent out today. Would be even more amusing if you didn't get one given how much more of these you've got than I