looks like this takeover destined to fail subject to a much higher offer.
what on earth would make them think that after years of no divi's Elphinstone would be happy to exit @ cost price $3.00? when he outlayed 86m as apart of the Coates hire takeover.
since then sykes group,monash hire and tru blu hire have been acquired and boom(BOL) has stated no more expenditure on dry/general hire equipment.
make no mistake the coates business is a high cash earner and its booming atm with 200b of projects to come on stream over the next few years.
NHR annual report reveals that there is 50.184m which implies a possible special divi of 33cents.
Stokes investments majority controlled see the SP go nowhere even though the businesses are ok because there is generally NO free float of the shares so instos cant get set with large holding to trade and no research is conducted therefore its genersally not on the radar screens of most broking houses
operating privately in the public world and all the disclosure required 3.1(1) does not work.
soulution:cut your holding to 40% KS and offer $5.00 for NHR if your at all serious!
LONG TERM HOLDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD!
NHR Price at posting:
$3.12 Sentiment: Hold Disclosure: Not Held
