FBU - Fletcher Building

[Balance]

Go read the FBU notes on this when the issue first arose. Go to the NZX website. Its all covered. This is going to court. Irony is that its not a batch isssue, its only WA, not rest of Aust. Strange

It is wholly to be expected that BGC will play the victim card as much as they can. And they have the home (pun intended) advantage which they again, will use as much as they possibly can. Think about it - when have the Aussie authorities and companies given NZ companies operating there a fair deal? Air NZ, Telecom, Warehouse etc etc.

Going to be tied up on the courts for a while to come unfortunately.

Meanwhile, FBU is not getting its governance and leadership affairs in shape yet. No new Chairman yet but the current board already has a favourite lined up to become CEO! Glad the Shareholders’ Association is highlighting the issue and putting the board on notice.

https://businessdesk.co.nz/article/m...-saga-drags-on

[whatsup]

$2-88 ATLow today, when will this slide stop, must be a contrary buy soon ?

[Toddy]

$2-88 ATLow today, when will this slide stop, must be a contrary buy soon ?

The market needs to get a handle on how deep the building sector recession is going to be before you can expect any meaningful turnaround in the sp.

For those with cash and even more cash if they need a cap raise, there are buying opportunitys in FBU.
The sp is probably still too high to temp me. The market keeps on pricing in a possible takeover. That's the only reason why it's not currently $2.

[Rawz]

FBU has far too much debt and all their internal issues. Why bother investing when you can bet safer elsewhere.

[nztx]

FBU has far too much debt and all their internal issues. Why bother investing when you can bet safer elsewhere.

Indeed .. agree

[nztx]

The market needs to get a handle on how deep the building sector recession is going to be before you can expect any meaningful turnaround in the sp.

For those with cash and even more cash if they need a cap raise, there are buying opportunitys in FBU.
The sp is probably still too high to temp me. The market keeps on pricing in a possible takeover. That's the only reason why it's not currently $2.

With the building sector ressession - how many of the minor players going down are out with debts to FBU Wholesale as a supplier ?

I would say there would be quite a few & chances of any or small recovery fast or at all from the small guys falling over ?

Factor in less $$ out there - property owners spending less too

Probably less major infrastructire spend out there as well with the fiscal strings being pulled in fast ..

Now where does that leave FBU ?

[Sideshow Bob]

Does that mean they'll have 4 directors left off the current board??

https://www.nzx.com/announcements/433353

Auckland, 25 June 2024: Fletcher Building Limited (the “Company”) today announced that Martin Brydon has informed the Board of his decision to step down as a director on 30 June 2024. This brings forward his departure, which was originally scheduled for the Company’s 2024 Annual Shareholders’ Meeting in October.