Cash Convert Share Discussion Threads

[diabhal] 14/2/2013 14:47

Great Half Yearly Report just released.

"Cash Converters International Limited is pleased to report a growth in revenue of 20.8% to $134.9 million and a record net profit after tax of $18.4 million for the period, an increase over the previous period of 39.2%. In addition, the Directors are pleased to advise that the interim dividend has been increased to 2 cents per share, up 14% on the 1.75 cents per share dividend paid in the previous half and previous corresponding period."

[d40eq6] 23/1/2013 22:02

I agree with you WyleCoyote. People did panic. I sold too albeit with only a modest loss as I got in early. Mr NT is a great read, albeit I fear he has too many sheep who treat him just like a financial adviser, follow him into trades and then complain when it hasn't worked out like he predicted. I really hope that people lay off him and just use his column as a source of good ideas rather than the Oracle.

[sir leonardo] 23/1/2013 21:43

WELL WELL WELL!!!!!!!!!!

SIR WOULD NOT HOLD A COMPANY WHO TRAET SHAREHOLDERS IN DIS WAY FFS!!!!!!!

JUST AS QUICKLY THEY MAY DECIDE TO DELIST FFS!!!!!!!!

BUNCH OF DE WORST !!!!!!!!!!!!

[wylecoyote] 23/1/2013 21:10

D40EQ6,

fair play, quite right that MR NT had a go his followers emailing him. It was quite ridiculous... I have to admit I panic sold and I am glad I did as I didn't understand the consequences. I did phone my broker though, but they didn't tell me what it would mean. Still, I suppose I have to ask the right questions. Still, I have learnt my lesson and will remember this next time.

[d40eq6] 23/1/2013 16:22

Interesting to see Mr NT's assessment of the situation on his website. He got quite annoyed with all his worried followers emailing him. He also had a go at those who panic sold. I suppose my only observation is that a fair few will have been taken out by tight stop losses which Mr NT advocates strongly!

[vipulparbat] 23/1/2013 14:21

Looks like the MM's shook the tree with the news on Monday, and panic selling. Price going back up to normal. Shame my stop loss was activated!

[ernieskeep] 21/1/2013 19:30

Here is a few brokers I have found.....

•EFG Harris Allday - London, Midlands, South East, South West, Wales
•Fiske Plc - London
•Hargreave Hale Ltd - London, Midlands, North West, South West, Wales
•Redmayne Bentley LLP - East Anglia, London, Midlands, North East, North West, Republic of Ireland, Scotland, South East, South West

I spoke to Redmayne....there is no charge for transfering the stock in via an ISA (mine are held in an isa) the dealing charges are 1.65% (or min which would work out at about £25) the annual charge for the isa is £60 + VAT

Please DYOR before making any decisions... GL

[diabhal] 21/1/2013 19:08

I hold with Hargreaves Lansdowne and they've given me an update which seems hassle free if a little pricey. After 15th Feb the shares can be sold at any time on the AEX at a charge of $110 (£73) + HL commission (circa £15). I'm tempted to hold as fundamentals haven't changed, and I can see the Aussie $ equivalent of 85-90p coming in the next month or so, which will get me back the charges and more. Not panicked here.

[foxman14] 21/1/2013 16:26

Waste: Don't have access to NT thread. Anyway Ernieskeep has got it about right. You need to find an execution service that deals with AUX. I believe Barclays is one but I'm sure more information will be forthcoming over the next few days.

[wasteman2004] 21/1/2013 15:52

fox: there is a post from somebody on the naked trader thread that called their broker and asked what the situation was. Just to point out, they seemed to be suggesting that the decision lay with CCVU, but not they would automatically decline. Go take a look and ask them directly.

[ernieskeep] 21/1/2013 15:17

Spoken with the Halifax....if you hold in an account with them you will need to transfer or sell before the de-listing...as its a forced transfer due to the Halifax not trading on AUX there will be no charge for the transfer...they will be communicating with holders within next few days..
Not the best situation...I do know I have been here before and regretted selling out on impulse....but starting to wonder if I really want / need the hassle of opening another account!

[foxman14] 21/1/2013 15:14

Wasteman where did you get that information from? Somebody who was looking for some cheap shares?!

[gorilla36] 21/1/2013 14:59

Well you certainly live and learn. Bought some end of Decemeber and two lots last week (ironically the second lot on Friday). Have sold them all now. Real companies don't f@@@ about like this. Onwards and upwards.

[wasteman2004] 21/1/2013 14:38

good luck guys my understanding is that there is no guarantee that you'll have the certificate honoured by CCVU. Be interested to see somebody update this post down the line that intends to hold beyond the Feb deadline.

[d40eq6] 21/1/2013 14:37

I would be wary on the forex risk. All the indications are that with the sterling printing presses at full tilt and growth flatlining, then sterling could take a hit this year against currencies such as the Aussie dollar. That is just a personal view of mine and DYOR etc. Currency speculation is a game I don't play...

[wylecoyote] 21/1/2013 14:10

Ernie...another lesson learned....I will remeber that....if I understand correctly, I could keep hold of this stock whilst it delists in London in my isa? Then at the right moment, say in a year I could sell the holding and get back the investment lesa charges and exchange rates?

[ernieskeep] 21/1/2013 13:22

Just spotted this post on lse hope it helps.....

the shares will be held by computershare on a UK deposit register until you wish to sell or buy more (in which case you need to get a broker who trades on ASX.) There is no conversion so each share held will be valued by the current share price on the ASX which is currently 1.21 Aus D. Quite a relief considering the share price dropped 20% this morning. I am not familiar with the forex between 2 currencies so unsure of that risk but I feel a lot better now. That's what I have been informed and the way I have interpreted what I have heard. Please DYOR and GL....

I make that circa .80p Interesting to see what effect the news has over there if any... again GL

[gswredland] 21/1/2013 13:03

Thanks Ernie

[ernieskeep] 21/1/2013 12:54

Main listing was always Aus...so exposure to the currency was always there...hold IMO fundamentals havent changed

[wylecoyote] 21/1/2013 12:39

Lesson learnt... I am never buying dual listed stocks ever again...

[wasteman2004] 21/1/2013 11:34

Don't see many people wanting to buy on the LSE knowing that it's getting delisted. Can see people holding and selling on the aussie xchg though, but I don't fancy the ball ache.

[gswredland] 21/1/2013 11:18

Yep that drop does seem to have been a bit of an over reaction

[diabhal] 21/1/2013 11:15

Well I'm sticking with this, at least until we see what the Aussies do when they wake up to discover a nice little retrace. The MMs don't seem bothered - they're hoovering up the shares atm.