Adrian

[Adrian @adrianfromnz]

@toy59496 That’s assuming they could accelerate store rollout to 200/year. Unless there is a step change in the business model, hard to see how you do better than a 2-3x over the long term + divis. That is unless we catch a real aus growthco multiple.

[Adrian @adrianfromnz]

@toy59496 Yep, I own $LOV.ax, guessing the bear thesis is something like already trading 22-25X FY26 uNPAT, mature store count say 2500-3000 so even assuming no degradation in incremental store network and impact from competitors this would be trading at say 8x earnings maybe 10 years out?

[Adrian @adrianfromnz]

@spac_attack Out of interest, do you find a strong relationship between spend and imminent DA’s?

[Adrian @adrianfromnz]

Kiwi legend Tommy, $OCA.NZ has persistantly traded at a discount to NTA, board seem unconcerned if the behaviour of the chair in the background is any indication.

https://t.co/DTgPLk5PYf
https://t.co/bN5QELFQsQ

[Stephen Mayne @MayneReport]

Under NZ law, an individual shareholder can put up a non-binding shareholder resolution. Youthful Tom Scrivener took a crack at Oceania Healthcare today calling for a buyback. He did well. Here is his opening 2 minutes.

[Adrian @adrianfromnz]

Closing thoughts on Bremworth, still interesting but not for me.

$BRW.NZ

https://t.co/KBoGubgaZO

[Adrian @adrianfromnz]

@TheSpecial1Cap Hi sorry for the late reply, should have a updated post out in a week or so.

[Adrian @adrianfromnz]

Bit of a speculative one - potential sale of Bremworth, NZ carpet/rug manufacturer trading well under net cash.

$BRW.NZ

https://t.co/qdnJ52hzkP

[Adrian @adrianfromnz]

Interesting things happening at Millennium & Copthorne Hotels NZ.

$MCK.NZ

https://t.co/yNtjUe0rAr

[Adrian @adrianfromnz]

@FundamentalGoob Thanks mate, really interesting writeup on KMD and great job on the Synlait unsecured bonds

[Adrian @adrianfromnz]

Few months late, but just some closing thoughts on Tower.

$TWR.NZ / $TWR.AX

https://t.co/GfQQmoL1fX

[Adrian @adrianfromnz]

@1stlevelthinker Any opinion on strategic review, or just option value?

[Adrian @adrianfromnz]

Tower Ltd interesting New Zealand situation - potential sale with minimal downside. Any feedback welcome.

$TWR.NZ / $TWR.AX

https://t.co/YCVJiqg3ux

[Adrian @adrianfromnz]

@hurdle_rate 2 separate bids. Regal(& river) is offering cash + disbursement of the GQG shares held by the target $PAC (effectively bidding for $PAC ex GQG holding), the other bidder is $GQG. Was quite an interesting opportunity trading at $10.25 when you knew a higher bid was incoming.