Somebody panicked on the ASX as well and sold 200,000 shares
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Somebody panicked on the ASX as well and sold 200,000 shares
It's a bit disappointing given their investor day wasn't long ago and everything was sounding rather postive at that point. What's changed?
Obviously this keen shareholder given the cold shoulder ....or went to the wrong school
In regard to our preparation for this 2017 Annual Meeting I would like to touch on three items. Firstly, you may be aware that the company received a director nomination from a Metro Glass shareholder. The nomination was discussed at length by the board and was assessed as having potential merit. Accordingly the board advised its preparedness to have the nominee go through the company’s director interview and induction process on an exclusive basis. This process involves a number of interviews including by the Nominations Committee, Chief Executive and ultimately the full board.
As I noted earlier, the board has already seen significant recent change with two new directors appointed within the last 12 months, each of whom were required to complete the same recruitment process I have just outlined, and which we see as protecting both the company and shareholders’ best interests. However having been informed of the board’s proposal, the shareholder elected to withdraw the nomination.
Was anyone at the annual meeting? Investors went in for the kill.
Behind paywall but covers the questions to Sir John - investors want him out. Surely with 28% voting for you to leave, it's time to think seriously about doing so?
https://www.nbr.co.nz/article/sharp-...ng-th-p-206906
Agreed, if you look at it from that perspective - than the overall flatness is a bit of a worry. Sort of wondering whether the FBU sickness might have anything to do with that?
Presumably all the delayed FBU projects require as well windows. And from memory - last year many of their problems have been caused by orders being called much later than originally expected (and planned). Now - we all know that the next lot of big FBU projects is again well above budget but behind deadline ... that's something which can kill subcontractors who need to provide the capacity when planned but are only allowed to deliver (and nine months later paid) when their service is called.
Maybe the NZ building industry is still sicker than we thought.