Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

A reminder to all members that you agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


21 Pages (Click to Jump) V  < 1 2 3 4 5 6 > »    
 
  
Reply to this topic

FBU, FLETCHER BUILDING LIMITED
plastic
post Posted: Oct 4 2018, 11:16 AM
  Quote Post


Posts: 10,064
Thanks: 299


Wouldn't it be a better idea for STU to buy FBU - Steel? I can't remember who is responsible for the faulty steel that went into all those projects but you have to wonder if push came to shove where would the liability lay.

Steel was mooted to be sold when Waters took over. An unprofitable ugly duckling that didn't fit with the plan is what they said. Maybe it still is which is why they are trying to boost its metrics with STU's.

You also have to remember the bond holders sitting in the background calling the shots on FBU.

But things are heating up. Four corporate plays all coming to the fore in the last few days. FBU-STU, NZX dissenters and TRS filing application for their LIDA transaction and David Kirk to list his translation business.






--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Aug 22 2018, 06:03 PM
  Quote Post


Posts: 10,064
Thanks: 299


Risk allocation is the buzz phrase of the day. Didn't see it mentioned anywhere today. Instead it was all about what the government may or may not, should or shouldn't do.

[quote]

The government is “a big and an important client in the industry, but not the only one. I think if it positions itself a bit differently and a bit more thoughtfully that will be a positive for the industry. I think that's a really appropriate and sensible response,” Taylor told journalists on a conference call after the annual result.

The government is responsible for around 18 percent of all vertical construction projects, and Taylor said Fletcher will continue to engage with the government over the coming weeks.[quote]

Instead of allocating risk on a contract by contract basis, shouldn't they just join each other at the hip and share risk ~and~ reward together?






--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Aug 7 2018, 01:41 PM
  Quote Post


Posts: 10,064
Thanks: 299


FBU and who else I wonder to be nationalized. Ride in as a white knight instead of a socialist. Perception is key.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jun 22 2018, 07:15 AM
  Quote Post


Posts: 10,064
Thanks: 299


Stone the crows! That new structure looks ideal for a break up. Reminds me a lot of what happened at Carter Holt Harvey before it disappeared.

Can't understand why they have to wait another day to name the directors.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jun 10 2018, 04:08 PM
  Quote Post


Posts: 10,064
Thanks: 299


Anybody watching developments at CBA?

Ralph Norris would've been Chairman while the damage was being done. Now its FBU. What next?



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: May 15 2018, 07:42 PM
  Quote Post


Posts: 10,064
Thanks: 299


Nope. Note holders roll over the notes with a tweak. The signal from that is, stay away from the equity.

http://mobile.nzherald.co.nz/business/news...jectid=12051950

QUOTE
The company also said it has agreed revised terms with holders of its notes in the US Private Placement market, having been forced to seek a waiver when it breached the terms of the debt.

There would be no change to the maturities or the underlying margin payable on the notes "other than the 1.25 per cent additional margin outlined above which will cease to be payable no later than 30 June 2019," Fletcher said. The same margin applies to its bank facility.

Fletcher's syndicated facility agreement was trimmed to $925m from $1.27 billion as a result of the equity raising, which netted $725m after costs. With the conclusion of lender negotiations, Fletcher has cancelled a $500 million standby facility it had put in place.]




--------------------
What did Uncle Mel do to us?
 

Featured Stock Stories





plastic
post Posted: May 15 2018, 02:00 PM
  Quote Post


Posts: 10,064
Thanks: 299


Shorts covering already. Maybe they're gonna take the equity option.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: May 15 2018, 09:21 AM
  Quote Post


Posts: 10,064
Thanks: 299


Sixteen days til settlement. Always pays to have options I guess.

If they take the equity option, expect some strong capital growth as the shorts get covered and the note holders can get to book a profit pronto.

QUOTE
Discussions with the USPP Noteholders are ongoing, and the Company's
objective and expectation is that it will achieve a mutually acceptable
outcome by 31 May 2018. While not expected by the Company to be needed, the
Standby Facility has been put in place to ensure that, together with the net
equity proceeds of the Offer, Fletcher Building would be able to redeem all
USPP Notes and pay associated costs if required.
]




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: May 13 2018, 04:43 PM
  Quote Post


Posts: 10,064
Thanks: 299


Retail offering closed Friday unless they elect to extend. Should find out Monday.

No word on noteholder developments.

All this going on and they are only "part" way through their strategic review. Wonder what the rest of it holds. You can bet the note holders have a good reason for waiting.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Apr 20 2018, 08:19 AM
  Quote Post


Posts: 10,064
Thanks: 299


These were the comments from the CBL guy when they hit the rocks. It makes me think there's a wider strategy being undertaken than just FBUs. Especially when you look closely at this cap. raise and across a clutch of other companies. The authorities seem to be in on the game.

QUOTE
in an email Harris said there was a wider story to be told about how CBL got to where it is and where it might be heading. "The facts will show some mistakes we have made, and the cause and effect of those, and just where we are and why, along with our plan for dealing with these issues.

He said those facts would also raise serious questions over certain regulators and their abilities and lack of leadership within the international sector.

But he said he could not talk about issues further at the moment due to statutory and disclosure obligations.
]




--------------------
What did Uncle Mel do to us?
 
 


21 Pages (Click to Jump) V  < 1 2 3 4 5 6 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING