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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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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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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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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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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Special Meeting Report, January 22 2024 Click here for NZSA Assessment and Voting Intentions The Chair and CEO, Chris Meehan, opened the meeting – setting out the purpose being to approve the sale of shares by Wanaka Partners LLC, to Perpetual Corporate Trust Limited as custodian for Akarua at $2.50 per share. The shares are…
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NZSA Disclaimer At a Special Meeting held on December 14th, shareholders of Burger Fuel approved a special resolution for the return of capital to shareholders. Or did they…? A deeper analysis of the shareholder voting results gives a slightly different picture as to the outcome. The ‘raw’ vote by shareholders is shown in the image below:…
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Special Meeting Report, December 20th 2023 Click here for NZSA Assessment and Voting Intentions This was never going to be an open-and-shut meeting. NZ Windfarms had announced a partnership with Meridian Energy on the same date of its (previous) Annual Shareholder Meeting, October 26th. This was now the subject of this special meeting, seeking shareholder…
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Annual Meeting Report, December 6th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2020 2021 2022 2023 Change Revenue $11.6m $13.1m $15.4m $16.6m 8% Operating Income $5.0m $6.4m $6.8m $8.1m 19% NPAT $2.3m $12m $12.8m $5.6m -56% Adj in fair value -$1.7m $7.1m $7.6m -$0.4m n/a EPS1 $0.072 $0.403 $0.45 $0.20 -56% PE…
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Annual Meeting Report, December 12th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2020 2021 2022 2023 Change Revenue $287.8m $350.8m $351.2m $409.7m 17% Gross Profit $169.2m $201.2m $202.3m $234.8m 16% Operating Profit $39.2m $49.3m $37.1m $47.8m 29% NPAT $27.8m $33.3m $25.6m $32.0m 25% Gross Profit Margin 59% 57% 58% 57% n/c EPS1…
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