Institutional Investors Throw a Spanner in the Works at RHG

By David Press on 3/31/2011 5:27 PM


  It would appear that for the second time in recent years, institutional investors are looking to make board changes at RHG (previously Rams Home Loans-pre GFC). Steve Johnson and members of the Intelligent Investor group failed in a similar attempt 18 months ago, only to have a group of institutional investors (holding 8.4% of the company) led by Karl Siegling and Geoff Wilson make a second attempt as announced today.

 

Today's announcement (attached to a substantial holding disclosure) stated that the group intends to requisition the removal of two existing directors (Greg Jones and John McGuigan) and replace them with three new directors (Malcolm McComas, Gabriel Radzyminski and Paul Jensen). Additionally, the announcement details the group's intent to ensure the company remains a listed entity and to distribute surplus cash as dividends (franked wherever possible). The existing share buy-back proposal...
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YourWealthWatch Blogs - Dave Press Parent Separator Stocks

BHP's Gift to Low/Non Tax Paying Investors

By David Press on 3/11/2011 11:33 AM


  In coming days, Australian investors in BHP (BHP-ASX) will be receiving paperwork detailing the company's recently announced, off-market share buy back. With so many 'Mum and Dad' investors holding BHP, and the technical nature of the buy back being a little difficult to understand, I thought it might be helpful to outline the details as simply as possible for anyone struggling to get their head around it and make their decision a little easier.

 

In short, investors can opt to sell their shares (or a portion of them) back to BHP. The offer will be at a discount to the trading price of shares on the market, which begs the question, why would you sell? Quite simply, it is in the make up of the payment that you find the answer. A very small proportion of the payment will...
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