TGH in the poop?

It’s been noticed by the detectives over at Tribalgoss that despite being full of ‘professionals’, Tainui Group Holdings has missed the deadline for filing it’s financial reports.

Recent events at TGH include:

  • Chairman John Spencer was sacked back in May, has he been un-sacked?
  • Instead of holding, TGH dumps 22.5 million Ryman shares because they need quick cash.
  • This years profits $23.1 million down from $34.1 million the previous year, blamed on the sluggish economy.
  • Net operating profit down a million to $14.9 million.
  • Operating cash flow $14.1 million down from $21.1 million.
  • $10.5 million dividend paid to shareholders (so that Te Arataura can blow it on inflated lawyers fees).
  • Greedy Mike Pohio wants more debt money to play with, $250 million in fact, taken out in your name Tainui!

Tainui Group Holdings did not file an annual return, what are they trying to hide?

Has TGH done this deliberately to avoid disclosure before Te Kauhanganui’s next meeting on Saturday?

1 Comment (+add yours?)

  1. tainui_bull
    Aug 16, 2011 @ 13:54:55

    They will be no longer exist.


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