House Prices

Offer outrages disenchanted TTP shareholders

Disenchanted Trans Tasman Properties minority shareholders are angry at the offer from majority shareholder SEA Holdings, predicting the deal will be shown up to be unfair and unreasonable.

Sunday, April 04th 2004

Michael Connor, who runs Epsom investment service Income Master, said SEA's 40c share offer made this week was a joke and far too low.

"It's completely derisory. It's farcical. You've got to be kidding me," said Connor, adding that the net tangible value of TTP equated to 63c a share.

He expects Grant Samuel to be commissioned to write an independent report on the offer and is sure any assessment will result in criticism of SEA for making its offer too cheap.

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Property sector still strong in Manawatu

Unity First Home Buyer special	3.99
SBS FirstHome Combo	3.99
TSB Special	4.39
Co-operative Bank - First Home Special	4.39
ICBC	4.39
ANZ Special	4.49
SBS Bank Special	4.49
Unity Special	4.49
Westpac Special	4.49
Kiwibank Special	4.49
Co-operative Bank - Owner Occ	4.49

ICBC	4.59
ANZ Special	4.69
TSB Special	4.69
BNZ - Std	4.69
Wairarapa Building Society	4.79
Nelson Building Society	4.87
Westpac Special	4.89
Co-operative Bank - Owner Occ	4.89
Kiwibank Special	4.89
SBS Bank Special	4.89
Unity Special	4.89

ICBC	5.19
Westpac Special	5.29
TSB Special	5.29
BNZ - Std	5.29
SBS Bank Special	5.69
Co-operative Bank - Owner Occ	5.69
Kainga Ora	5.69
ASB Bank	5.69
AIA - Go Home Loans	5.69
Kiwibank Special	5.79
Westpac	5.89

SBS FirstHome Combo	3.29
AIA - Back My Build	3.34
SBS Construction lending for FHB	3.74
CFML 321 Loans	3.95
Co-operative Bank - Owner Occ	4.99
Co-operative Bank - Standard	4.99
Heartland Bank - Online	5.30
ICBC	5.39
Kiwibank - Offset	5.65
Unity Standard	5.79
Unity Special	5.79

House Prices

Offer outrages disenchanted TTP shareholders

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