Newcastle Knights Members Club board to ask Nathan Tinkler to walk away

[kmav23]

http://www.businessweek.com/news/2012-12-13/australia-tax-office-steps-up-pressure-on-tinkler


Tinkler owes as much as $700 million to lenders including Farallon Capital Partners, Credit Suisse Group AG and Kuok Group, three people familiar with the matter told Bloomberg News last month. His creditors may seek to take control of his stake in Whitehaven Coal Ltd. (WHC), worth about A$703 million ($742 million) at the current share price, if he fails to make payments on a loan, said the people, who asked not to be identified as the details are private.

 

[Spot On]

Certainly is getting soft treatment from those he owes 700 mill to. This has been going on for some time now. You would think we are getting close to the end now.

 

[Alex28]

Margin lenders don't let debt get to that lending margin. It is either a crap article or there is additional security. Doesn't suit the naysayer's arguments tho...

 

[kmav23]

Margin lenders don't let debt get to that lending margin. It is either a crap article or there is additional security. Doesn't suit the naysayer's arguments tho...

He borrowed the money ( 700 million) debt when his stocks were 1.1 billion...

the share price essentially halved...in a short time...

he was waiting for dividends which they are not paying now to fund his lifestyle...and businesses..

 

[Alex28]

He borrowed the money ( 700 million) debt when his stocks were 1.1 billion...

the share price essentially halved...in a short time...

he was waiting for dividends which they are not paying now to fund his lifestyle...and businesses..

For someone who works in the "finance sector", are you not looking at those articles and thinking "something doesn't make sense"?

f**k off back to the NRL forum and stick to making a dickhead of yourself over there.

 

[Chicken_Hunter]

He borrowed the money ( 700 million) debt when his stocks were 1.1 billion...

the share price essentially halved...in a short time...

he was waiting for dividends which they are not paying now to fund his lifestyle...and businesses..

Why are they not paying his dividend. I got my whc dividend of 3cents per share.

 

[Alex28]

LOL. Some finance guru. CH - maybe you got the "Non-Tinkler Dividend"?

 

[Chicken_Hunter]

LOL. Some finance guru. CH - maybe you got the "Non-Tinkler Dividend"?

Lol oh ok. I wasn't aware companies could pick and choose who they want to pay dividends to... My bad.


On another note, in regards to the apparent imminent collapse of whc.

Today CIMB group analysts have given WHC an 'outperform' rating

And here are some more company ratings

BA-Merrill lynch rates whc as a buy, target share price $5
Deutsche bank rates whc as buy, target price $4.90
Credit Suisse rates whc as outperform - target price $6
Wilson htm rates WHC as a buy - target price $5.75

But I am sure all these big companies and their highly paid teams of analysts have no idea what they are talking about.

 

[Alex28]

That's what nobody is getting. They are seeing all these little companies of his going into liquidation and the like and claiming that the sky is falling. Clearly the majority are deals that have gone bad and that he wants to pay as little as he can to get out of them. The key companies and assets have had no formal action against them - just a bunch of hearsay which has very little substance to back it up.

 

[cram]

I have no problem with what is happening with his other businesses and how he chooses to avoid paying however, I do have an issue with him, or his minions not running the Knights properly.

They need to pay the debts for the Knights and run it better then the other mob. That is what we all wanted but I don't recall any wind up notices being issued on the former management?

 

[Chicken_Hunter]

Further to to today's CIMB rating of outperform for Whc, they have a 12 month price target of $4.80 which seems a bit conservative compared to other ratings. If whc were to go to these levels tinkler would be worth just under $1b again.

 

[Sydney Knight]

Those guys wouldn't know as much as a guy who operates the money box counting machine at cba

 

[Alex28]

There is no guy operating the coin counter these days mate - customers can do it at a machine themselves in the customer space.

Just read that WHC is talking to a Chinese energy company about sharing costs in mining the Gunnedah basin. Should push the share price a little higher...

 

[Sydney Knight]

Kmav still needs to empty it out though

 

[Alex28]

Kmav only knows what the Internet tells him, then insists that it must be fact. He knows nothing...

 

[Chicken_Hunter]

So we dont reply to your drivel in the other thread now you have to bother us here? Do you even have a life?

 

[Silent Knight]

Ignore the troll and he'll go away.

 

[kmav23]

Read this article... Tinkler is in MASSIVE TROUBLE!!!!

Share price has to rise more then 20% to at least break even,,,,

His got interest payments plus massive capital gains bill....

Everyone knows his desperate ...and could be forced to sell... holding back and large share price increases.

http://www.finnewsnetwork.com.au/archives/finance_news_network22529.html



Nathan Tinkler's 19.4 per cent stake in Whitehaven Coal Limited (ASX:WHC) is again at the centre of speculation with reports claiming the highly leveraged mining magnate could be left with a loss on any potential sale after paying a significant capital gains tax bill.

Fairfax Media says the former billionaire owes up to $700 million to a variety of lenders against his stake in the coal producing company.

CIMB analyst James Stewart has told Fairfax Media Whitehaven's stock would need to increase more than 20 per cent for Mr Tinkler to break-even on any sale.

The report says Mr Tinkler has now had his corporate jet and helicopter repossessed and has sold his prized racehorse All Too Hard to Gerry Harvey.

Whitehaven Coal posted a net profit of $62.5 million in the 2012 financial year.

 

[kmav23]

Tinklers finished....

no one is going to lend him more money.....

he owes 700 million !!!!!! thats why he cant pay any bills.. even tradies

 

[The Showstopper]

Tinkler is not finished you drama queen. He is struggling but he has not been liquidated yet. The net profit should be a sign that Tinkler may dodge the bullet. It could be far worse for him. It is a start. What gets me is the level of hate aimed at a man who simply wanted to have a go. He saved his town's football history in 2 codes. It will be a sad day if he does eventually lose the battle. His legacy should not be remembered as a man who paid up late..