Scrip Articles

Is this a ‘managed PR retreat’ for Agria in PGG Wrightson?

NZSA Disclaimer Guanglin “Alan” Lai probably thought it was in the bag. After all, with Agria’s 44.3% shareholding, it would be tough to overturn a proposal (announced on February 13th) to remove three independent directors from the Board and elect three new independent directors, plus himself. Yet, the recent action by Agria in flexing its…
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Waikato Branch – A night with Craigs Investment Markets on their outlook for 2024

On 20 February 2024, our guest speaker was Dwight Egelhof, an Investment Advisor, with Craigs Investment Partners.  Dwight spoke on the current state of investment markets and what lies ahead for 2024.  Inflation is still above the targets of central banks and their decisions could cause economic activity to slow.  All experts expect decreases in…
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Me Today Limited – 2024 Special Meeting Report

Annual Meeting Report, March 8th 2024 Click here for NZSA Assessment and Voting Intentions The company is proposing a capital restructuring to allow it to finance its non-honey business whilst separating the King Honey business to allow for a future sale. Since acquisition in June 2021, the King Honey business has experienced difficulties due to…
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Why don’t more women invest? You’re asking the wrong question

NZSA Disclaimer I’ve just finished watching the latest True Detective series where the constant refrain from the hard-bitten Alaskan cop played by Jodie Foster was: “Ask the question. Nope, wrong question” until she got to the heart of the matter. It came to mind when I was recently asked to speak to women about investing…
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Gentrack Group Limited – 2024 Annual General Meeting Report

Annual Meeting Report, February 28th 2024 Click here for NZSA Assessment and Voting Intentions Metric 2020 2021 2022 2023 Change Revenue $100.6m $105.7m $126.3m $169.9m 35% Operating Expense $93m $118.2m $146.7m 24% EBITDA $12.1m $12.7m $8.1m $23.2m 186% NPAT -$31.7m $3.2m -$3.3m $10.0m n/a EPS1 -$0.321 $0.032 -$0.033 $0.098 n/a Capitalisation $281m $772m 175% PE…
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With shareholders like this, who needs enemies?

NZSA Disclaimer While most of the New Zealand investment community were agog at the events impacting a certain building materials company, an announcement made to market by PGG Wrightson (NZX: PGW) late on February 13th caught NZSA’s attention. It seems that PGW’s 44% shareholder Agria is seeking a special meeting to remove three of the…
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Will resignations cap a decade of disaster for shareholders at FBU?

NZSA Disclaimer It has been a decade of disaster for Fletcher Building (NZX: FBU) shareholders. Much has been said about Fletcher Building this week, including NZSA’s own commentary both in the media and via the NZSA blog article (It’s just a flesh wound…) early in the week. Of course, it isn’t the first time we…
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It’s just a flesh wound…

NZSA Disclaimer This scene from Monty Python has indeed set the tone for the events that have played out at Fletcher Building (NZX: FBU) over the last week. Unfortunately, however, the brave and beleaguered ‘Black Knight’ made famous by the Monty Python sketch represents not just the company itself, but the many thousands of shareholders…
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Proposed trust tax increase a further nail in the coffin for individual shareholders

NZSA Disclaimer Back in July 2023, the due date for responses to one of the previous government’s lesser-publicised bills was coming up fast. It was Mataraki weekend – the new public holiday to recognise the Māori New Year. Clearly, it wasn’t a holiday that meant much to the Finance and Expenditure Select Committee, with consultation…
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GEO Limited – 2024 Special Shareholders Meeting Report

Special Meeting Report, January 23 2024 Click here for NZSA Assessment and Voting Intentions The Chair Tim Molloy outlined the rationale behind the company seeking shareholder approval to delist from NZX – mainly the compliance costs, which were disproportionate for the size of the company and limited its ability to expand, and the lack of…
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