HII - Hire Intelligence

[slimprophet]

HII shareholders (20,000 shares or less) are being offered 13 cents a share in another attempt to reduce the number of shareholders and privatise. Obviously the owner and main shareholder (72.6%) thinks they are worth a lot more.
They traded at 8 cents yesterday. Should I sell ?

 

[tech/a]

Re: HII Offer

If they were trading at 13c would you sell?

Sell at 13c and if you think they will go to 50c then buy 80% more with the profit from the offer!
Why guess?

 

[slimprophet]

Re: HII Offer

I bought at 50 cents and prefer to invest for the long term.
The underlying business has a strong future according to my broker.
No, I would not sell if they were trading at 13 cents, so I guess I have answered my own question
If a jewish south african owner thinks there worth 13 cents I'm sure they are worth a lot more in the long term

 

[el_ninj0]

Re: HII Offer

I bought at 50 cents and prefer to invest for the long term.
The underlying business has a strong future according to my broker.
No, I would not sell if they were trading at 13 cents, so I guess I have answered my own question
If a jewish south african owner thinks there worth 13 cents I'm sure they are worth a lot more in the long term

The question is, how long term?, and would your money be better off in another place in the mean time while they sort out there business?

 

[tech/a]

Re: HII Offer

The question is, how long term?, and would your money be better off in another place in the mean time while they sort out there business?

El
I agree and now knowing slims situation it appears pretty obvious that they have held far to long and are looking for a reason why this stock "may" be of some value.

Passing off a loser as a well planned long term hold is only kidding yourself.

How many of these do you have(other shares in the same boat).

Stops can avoid losing 80% of your initial capital (In this case!!).

 

[RichKid]

Re: HII Offer

HII shareholders (20,000 shares or less) are being offered 13 cents a share in another attempt to reduce the number of shareholders and privatise. Obviously the owner and main shareholder (72.6%) thinks they are worth a lot more.
They traded at 8 cents yesterday. Should I sell ?

Slim,
Correct me if I'm wrong but the offer (a standard one per ASX rules) was to compulsory buy unmarketable parcels at the market price prevailing at the time, which could be anything (around 10c atm). Below is the most recent notice, there have been others. Can't see anything iimportant about the business apart from your broker's view (not reflected in sp). Thin trading too so I wouldn't be anywhere near this one, not sure what the intentions of the co are. Predictably the sp has moved up from 8c. My understanding is that if one s/h has less than $500 worth you lose your holding at the market price even if you want to keep it.

BTW, An unmarketable parcel is a shareholding valued at less than $500- see earlier co anncts, where did you get 20k from?? Sorry to hear you lost money on this one, good luck with it for the future.

Also, I don't know where the privatisation story is from or what the nationality or religion of the major s/h has to do with it. Many co's engage in this type of small parcel cleaning up.

HIRE INTELLIGENCE INTERNATIONAL LIMITED
SALE OF UNMARKETABLE PARCELS
17 March 2005

In accordance with Article 31 of the Company's constitution, on the 25 November 2004 the Board notified shareholders of its decision to sell eligible unmarketable parcels. The effective date was 17 January 2005 at 5:00pm Perth time.
As at the effective date, unmarketable parcels eligible for sale consisted of 97 shareholders holding in aggregate 214 778 shares.
The sale of all eligible unmarketable parcels, has been finalised on the ASX at the market price.

Tom R Crage
Managing Director
Hire Intelligence International Limited
(08) 9284 1166

 

[slimprophet]

Re: HII Offer

RK,

I am not a pro investor by any stretch but I can read a letter which I received from Thomas Crage on Thursday Morning offering me 13 cents for my shares.
The letter stated he wanted to increase his holding by about 2.9% giving him 75%. My shares are not an unmarketable parcel and did not qualify for the previous clean up, which was concluded last week when 200,000 shares were dumped pushing the price down to 8 cents. Then I get a letter. Call me suspicious but last year the owner tried the same thing except it was open to all shareholders. I also read that there is respected perth merchant banker buying up this stock. Having said all of that I have to agree with the other comments it's probably time to get out.

 

[RichKid]

Re: HII Offer

RK,

I am not a pro investor by any stretch but I can read a letter which I received from Thomas Crage on Thursday Morning offering me 13 cents for my shares.
The letter stated he wanted to increase his holding by about 2.9% giving him 75%. My shares are not an unmarketable parcel and did not qualify for the previous clean up, which was concluded last week when 200,000 shares were dumped pushing the price down to 8 cents. Then I get a letter. Call me suspicious but last year the owner tried the same thing except it was open to all shareholders. I also read that there is respected perth merchant banker buying up this stock. Having said all of that I have to agree with the other comments it's probably time to get out.

Sounds like the scams the people at National Exchange were upto, certainly something odd going on. Maybe you should check with the co direct to see if it really is a genuine letter and with ASIC/ASX to see if everything is legit. I don't recall seeing anything in the co anncts about the direct offer by Crage- I'd assume they'd have to announce it. It's all too complicated for me.

 

[AjD]

Re: HII Offer

Hey all

Anyone watching this one?

I have done a quick analysis:

-market cap ~$13m
-cash on hand (31/12) ~$7.5m
-net assets ~$14m
-expected fy 08 result $1.5-$2m
-expected yield 8-12% fully franked

Also, they have no debt and five years of EBIT growth. Plenty of risk - MD owns 90% and not very liquid, but appears good value to me.

Interested to get some opinions.

Cheers

 

[JohnCarter]

did some digging on this one myself,

it appears the company is investing bigtime in a new website development franchise, over a million spent to far, ( Busby Web Solutions)
this new business appears to be sucking up money and does not appear to be delivering any return.
Current franchise business (Hire Intelligence) appears to have lost a lot of their franchisees had 55+ worldwide now less than 18 worldwide why ?
Also, previous new franchise business (Test and Measurement) was shot after 12 months after making a huge loss.


Share price has just stacked from 57 cents to 13.
MD has previously attempted privatization, suspect he may make another attempt shortly.
Grab the dividend and RUN ?