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Ann: Shareholders to vote on Humm Consumer Finance transaction, page-87

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pennyfaithful

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24/05/22

17:34

Post #: 61594720
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Originally posted by capital3157: ↑

Andrew Abercrombie is destroyer of capital.

The idea that we are best to reject the deal and allow AA to use our capital to make acquisitions and participate in the consolidation of the industry would be laughable if it were not so costly.

There are 495m shares in issue.
At 70cps that is $350 million, mkt cap.

When the company was floated there were 217 million shares at $2.00
Market cap $434 million

AA (who held 80%) received $345 million and reinvested $130 million for a 30% stake
That is he put in his pocket, $215 million.

He then proceeded to make acquisitions funded by raising capital.

In 2008 he issued 3 million shares at $0.48. raising $1.4. as part consideration for the Certify acquisition.

In 2010 he issued 31.6 million shares at $1.28 raising $40.5 million to take advantage of the fallout from the GFC.

In 2013 he issued 11.3 million shares at $3.99 raising $45 million.
Followed by a SPP raising $10 million for 2.5 million shares at $3.99.

In 2015 AA issued 68.2 million shares at $2.20 raising $150 million to acquire Fisher & Paykal finance book. AA kicked in $27 million @ $2.20.

Terrara Capital was issued 20 million shares in 2019 at $1.25 raising $25 million and John Wylie was appointed to the board.

Then in 2020 AA issued 123 million shares at $1.14 raising $115 million.

So all up...equity has grown from 217 million shares in 2008 to 495 million today.

AA has raised $820 million including the float...or $386.9 million since the float....

And what does he have to show for it????

A market cap of just $350 million.

Since the float AA has torched $470 million...and some want to let him keep on going with the same capital destructive strategy.

It's time he moved on...and us too.

The are several vacancies in Victoria for a well healed well connected Liberal.

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This guy has trashed that company and now he seeks to keep control. I want out and this is the best transaction to get us all out before even more damage is done. Look at this history, Abercrombie financial scandal follows him around. The Mount Buller Trust was an issue when he was there after Thawites appointed him. Google shows he stuffed Digital River a company he was involved in When at he top of the liberal party another financial scandal.

HUM Price at posting: 70.5¢ Sentiment: Sell Disclosure: Held
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(20min delay)
Last 48.5¢		Change 0.010(2.11%)		Mkt cap ! $238.3M

Open	High	Low	Value	Volume
47.0¢	49.0¢	47.0¢	$114.0K	238.4K

Buyers (Bids)

No.	Vol.	Price($)
1	4000	48.0¢

Sellers (Offers)

Price($)	Vol.	No.
48.5¢	2682	1

View Market Depth

No.	Vol.	Price($)
1	4000	0.480
1	2105	0.475
1	46000	0.470
1	10000	0.440
2	15109	0.430

Price($)	Vol.	No.
0.485	2682	1
0.490	28444	1
0.495	20000	1
0.500	12115	7
0.505	8000	1

Last trade - 16.10pm 09/08/2024 (20 minute delay)

HUM (ASX) Chart

Ann: Shareholders to vote on Humm Consumer Finance transaction, page-87

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Ann: Shareholders to vote on Humm Consumer Finance transaction, page-87

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