Logo
Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome to ShareScene - Talk Shares And Take Stock With Australia's Sharemarket Community - New Here? Click To Register >

Important Notice For All Members - ShareScene Is Moving

3 Pages (Click to Jump) V   1 2 3 >   
 
  
Reply to this topic

PGW, PGG WRIGHTSON LIMITED
plastic
post Posted: Oct 31 2018, 09:04 AM
  Quote Post


Posts: 8,559
Thanks: 277


Something fishy going on here. Why hasn't the market responded to the capital pay out vote taken yesterday?

Is there a sting in the SEC tail?






--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jun 7 2013, 02:29 PM
  Quote Post


Posts: 8,559
Thanks: 277


I can't understand why there has been no SSH notice issued on last Fridays trades.

Furthermore, the new CEO of LIC pedigree is the same company that brought us Matrix the Bull. The genetically engineered stud that caused cows to have hair and no tails. In the end it was put down and LIC refused to accept liability.

The GE interest will be the factor that brought him to PGW and their seed business.

I just hope he does better in the GE seed business than he did with Matrix the Bull.



--------------------
What did Uncle Mel do to us?

Said 'Thanks' for this post: puke  
 
plastic
post Posted: Oct 16 2012, 12:02 PM
  Quote Post


Posts: 8,559
Thanks: 277


I recall the CEO stating on National Radio the Crafar Farms loans would be settled in October and then the fundamentals would change significantly.

Half way through and we still have nothing.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Oct 5 2012, 12:32 PM
  Quote Post


Posts: 8,559
Thanks: 277


Whats up with PGW's notice of AGM today. Meeting is to held on the 24th of Oct. Statute requires at least four weeks of notice. Here they have given less than three. Add to that there seems to be a mass exodus of the board.

I have seen this happen before. Typically it indicates a board at war with each other over different proposals from different interest groups.

This has all the hallmarks of that being the case. Especially when a PR like this comes out. Worth noting Prime Minister John Key and Finance Minister Bill English head up the Primary Growth Partnership at AgResearch and PGW are co-managers of the Bio-Pacific Ventures fund with AgReseach.

QUOTE
PGG Wrightson gets government backing in $14.6M seeds research
Thursday 4th October 2012


PGG Wrightson, the New Zealand rural services group controlled by China's Agria, has won government backing for a $14.6 million research programme that aims to improve seed quality and plant species.

The government will invest $7.15 million over six years through its Primary Growth Partnership fund in a Wrightson-led initiative to lift animal productivity and reducing environmental impacts, the Ministry for Primary Industries said in a statement. The balance will be picked up by Wrightson and its research partners.

The programme seeks to establish faster and more reliable pasture, increase pasture productivity and persistence, cut greenhouse gas emissions, improve animal health and lower susceptibility to summer droughts.

"Co-funding of these projects by government and industry is what PGP is all about," Primary Industries Minister David Carter said in a statement. "Every New Zealander stands to gain from innovative investment in the primary sector because our food, fishing, fibre and forestry industries are pivotal to the success of the economy."

Wrightson's seeds business was widely seen as the attraction for China's Agria Corp taking a controlling 50.01 percent stake in the company in a $144 million deal. Its agri-tech unit, which has been building its seeds business, increased revenue 3.6 percent to $435 million, though earnings fell 21 percent to $30.1 million in the latest financial year.

Derek Woodfield, PGG Wrightson Seeds general manager of research and development, said the funding will let the company build a suite of new technology to keep New Zealand farmers internationally competitive.




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Sep 25 2012, 11:05 AM
  Quote Post


Posts: 8,559
Thanks: 277


What value does PGW put on their seeds business after this purchase? Devgen still at R&D stage with no commercial revenue from it.

QUOTE
Syngenta AG (SYNN) agreed to buy Devgen (DEVG) for about 403 million euros ($523 million) as the Swiss maker of agrochemicals extends a move into seed products based on biotechnology.

Investors of the Belgian hybrid-rice seedmaker will get 16 euros a share, Basel-based Syngenta said. The price is 70 percent higher than Devgen’s closing price yesterday. The asset will have a “very significant impact” on Syngenta’s $500 million rice business, Chief Operating Officer Davor Pisk said in an interview today.

Syngenta, the world’s largest agrochemical maker, is matching BASF SE (BAS) and Bayer AG (BAYN) with the purchase of a biotechnology company. Devgen offers rice traits that have been engineered to resist disease, as well as other formulas for crop protection. For Syngenta Chief Executive Officer Mike Mack, it’s a bet that Devgen’s technology can be rolled out to eclipse research costs that have so far erased profit.

The Swiss manufacturer is paying a “hefty premium” of 14 times estimated 2013 sales, and “the payback will take many years,” Patrick Rafaisz, an analyst at Bank Vontobel AG in Zurich, said in a note.

Syngenta rose as much as 0.9 percent to 347.50 Swiss francs and was trading up 0.4 percent at 3:25 p.m. in Zurich. The stock has gained 26 percent this year, valuing the company at 32.2 billion francs ($34.6 billion). Devgen soared as much as 68 percent to 15.88 euros and was 67 percent higher in Brussels.


Current ‘Flavor’
“Biopesticides and seeds are flavor of the month,” and “if you don’t have a position in a certain technology, you are going to be locked out,” Anton Ticktin, a partner with the Valence Group investment bank in London, said in a phone interview. “We definitely see there is M&A going forward in this area.”

Syngenta management will give an overview of its strategy and outlook to investors and analysts on Sept. 24 at a capital markets day to be held in India. Devgen already has a presence in that Asian country, as well as in Indonesia and the Philippines.

The deal follows BASF’s announcement yesterday that it plans to buy Becker Underwood Inc. for $1.02 billion as Kurt Bock makes his first major acquisition as chief executive officer with a move into biological seed treatments.


‘Serious’ Bayer
Bayer, which this year purchased AgraQuest for $425 million, has “gotten serious” about investing in rice and wheat, Sandra Peterson, head of the Leverkusen, Germany-based company’s crop-protection unit, said in an interview yesterday.

Syngenta’s offer for Devgen is at a “very attractive and fair price,” and the Swiss company isn’t aware of competing bids, Pisk said.

Major shareholders with about 48 percent of the Ghent-based Devgen’s stock support the deal, Syngenta said. Credit Suisse advised Syngenta on the transaction.

Devgen’s RNAi crop protection business, in which Syngenta invested 22 million euros in May, is still at the research and development stage and has no commercial revenue, Pisk said. The business makes sprays which kill worms that attack carrots and potatoes.

Sales at Devgen totaled 25.5 million euros last year. The operating loss amounted to 6.3 million euros as earnings were burdened by research and development costs.

“We don’t expect in the next couple of years for Devgen to have a high share of our total rice business, but it will grow significantly over the mid-term,” Pisk said.

To contact the reporter on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Sep 5 2012, 03:22 PM
  Quote Post


Posts: 8,559
Thanks: 277


Does the cascade of the dominoes go, PGC to Perpetual Capital Managment to Rotorua Trust Perpetual Capital Fund Ltd to GEN to todays selling out for pittance.

Somehow I would not be surprised given the involvment of Sandy Maier doing another hatchet job again on his investors. The same way he did on South Canterbury Finance.



--------------------
What did Uncle Mel do to us?
 


plastic
post Posted: Aug 31 2012, 12:08 PM
  Quote Post


Posts: 8,559
Thanks: 277


Interesting developments in this since last post with PGC. Wonder what Norgate is up to now.

PGC holders and their lawyers might want to consider what this decision means for them. Something quite monumental I am thinking.

http://www.talktax.co.nz/index.php/2012/08...ustees-allowed/

QUOTE
Posted by Vicki Ammundsen, on August 9, 2012 Print Send to a colleague/acquaintance

The Court of Appeal has overturned the High Court decision in CIR v Newmarket Trustees Limited (2011) 25 NZTC¶20-030 (the liquidations judgment). See Commissioner of Inland Revenue v Newmarket Trustee Limited [2012] NZCA 351

Background

Newmarket Trustees is a corporate trustee that acts for a number of trusts. Newmarket Trustees is insolvent due to unmet tax liabilities in respect of one if the many trusts of which it is a trustee. Despite the company's insolvency, which was not in dispute, the High Court took a pragmatic approach and elected to exercise its residual discretion under s 241(4) of the Companies Act and dismissed the application. Factors taken into consideration by the High Court included the fact that no assets would be realised on the liquidation, there were no other creditors and the costs to the other trusts for which Newmarket Trustees acted if it were necessary for each trust to appoint a new trustee.

Court of Appeal approach

The Court of Appeal disagreed with the approach of the High Court, finding that the factors relied upon did not provide "any sufficiently compelling ground of principle or justice to overcome the general policy of the Companies Act with regard to insolvent companies" (see para 66).

The Court of Appeal took as its starting point, the recognition that the
Court has an overriding duty to esnrue that trusts are properly managed. Further noting that:

  • an insolvent trustee company, like a bankrupt trustee, will normally be considered unfit to be a trustee
  • the appointment or retention of a bankrupt trustee or an insolvent trustee company will not normally be in the best interests of the beneficiaries
  • a fundamental proposition of the law of trusts is that a trustee must be fit to discharge its functions or be liable to be discharged from office
  • wider public interests require the deterrence and removal of insolvent trustees
The Court of Appeal also considered the position in England and Australia and also referred to the fifth paper in the Review of the Law of Trusts, which considers the propriety of trustees servies being offered through trustee companies.

This decision, follows the earlier Court of Appeal decision in CIR v Chester Trustees Limited [2003] 1 NZLR 395.




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: May 11 2012, 10:36 AM
  Quote Post


Posts: 8,559
Thanks: 277


Interesting commentary here given the impasse at PGC and their PGW holding. Maybe that has to be resolved before Bayer take a stake in PGW.

QUOTE
FRANKFURT, April 25 | Wed Apr 25, 2012 10:26am EDT

FRANKFURT, April 25 (Reuters) - German drugs and plastics maker Bayer AG is close to making a multi-billion euro acquisition to bolster its healthcare division, three people close to the planned transaction said.

"A big announcement is imminent," one of the sources said, declining to specify the name of the target.

Bayer recently sounded out its debt financing options with banks to prepare for takeover opportunities such as one that may arise from Pfizer Inc's mooted exit from veterinary medicine, people familiar with the matter had said.

In late March, Bayer Chief Executive Marijn Dekkers said: "Every company of our size is looking for acquisition opportunities. You have to do it to remain competitive."

He has said his M&A focus would be on the healthcare and the genetically-modified seeds industries.

CEO Dekkers, who has a track record of big M&A deals like the creation of lab equipment maker Thermo Fisher, joined Bayer in 2011 and investors have been scouring for clues ever since as to where he plans to take the 148 year-old German drugmaker.

"Dekkers is keen to do something and it could happen within the next couple of days," one of the sources said.

A spokesman for Bayer, which is scheduled to announce first-quarter results on Thursday, declined to comment.

Bayer has been said to be weighing a bid for Pfizer's animal health unit, but Pfizer is leaning toward offering all or a stake in the unit to its own shareholders rather than selling it outright, because of a roughly $5 billion tax bill as well as antitrust scrutiny that an outright sale would trigger.

Bayer has said repeatedly that in case of a larger takeover it would exhaust all debt and equity financing options before considering a sale of its MaterialScience unit, which is the world's largest maker of plastics for car lights and sports goggles and of chemicals for padding and insulation foam






--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jan 28 2012, 10:09 AM
  Quote Post


Posts: 8,559
Thanks: 277


When PFE and MRK bought Wyeth and Scherring it was China, NZ and Au. that held out against giving its approval until they had an undertaking from PFE and MRK to make some divestiture from their agricultural and vet. business units.

Can't imagine that isn't in the equation somewhere either.

People seem to forget the not insignificant footprint these companies have in the NZ agricultural scene.

Same with Bayer who have chosen to set up a centre of excellence for R&D here.

I think something big is going to happen next week and PGW can expect to gain considerably from it.





--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jan 28 2012, 09:22 AM
  Quote Post


Posts: 8,559
Thanks: 277


Can't believe this isn't related to PGW if the Chinese want to own security of the supply chain. Including seed for grass to feed their herd with. Can't imgaine they stopped on just the dairy industry either. Throw in forestry, sheep and wool, a bit of horticulture and agriculture, not to mention human health and then we might have something.

Guess we will find out more next Friday.

http://www.nzherald.co.nz/business/news/ar...jectid=10781723

QUOTE
The Crafar decision is a victory for economic rationalism over blind xenophobic nationalism. Long may the former reign.

Instead of bowing to whipped-up public pressure (which it can't do anyway without breaking the law and marring New Zealand's international reputation), the Government has stuck to its guns and allowed due process to triumph.

The approval for the Chinese bid by John Key's government is a welcome sign that he intends to hit his stride in his second term and make the most of the economic opportunities that are available to New Zealand.
-------------------------------------------------------------------
Next Friday we'll hear more about the Government's plans. Good on Key for being bold




--------------------
What did Uncle Mel do to us?
 
 


3 Pages (Click to Jump) V   1 2 3 >

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING