I suspect it's to align with Arbogens. I read it once. Can't remember where... I wonder if there will still be a market update prior to June 30?
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Simple enough thing to explain to shareholders then?
The arrogance of this remnant of the once proud and mighty Fletcher Challenge group beggars belief - especially when one considers that Hugh Fletcher is still on the board, the very same CEO who ran the group into financial stress and eventual breakup.
Hopefully my cautious optimism for Rubicon is not misplaced with this latest announcement. They have committed to an announcement to the future direction concerning Arborgen by June 30th, to not do so would be extremely unwise. I await the market reaction, still tempted to buy more.
Arborgen's balance date is 31 March according to the latest Rubicon annual report. It's possible that may have changed too to better match their sales and collection cycle which would be understandable.
I'm sure we'll have a market update, probably on the deadline date, if only to say everyone is very busy and consultants have been engaged!
fairy nuff
History shows, going back to Fletcher days there has never been huge windfalls for share holders on sell off's. The longer this goes on the less confident I am....perhaps they will sell Arborgen on an equivalent Grant Samuel valuation too....I mean 'what share holders'.....
I'm I the only one that thinks a sell off would defeat the purpose of nurturing this beast? Quite keen on keeping my share of a company that dominates a world industry. Money does grow on trees!
Or will...
Soon...
hopefully...
We have a new director, one David Knott Jr, who according to the Companies Office website was appointed on 24 Feb 2017. New blood at last. I hope he's bright. Now there are seven directors so the chance of deadlock is reduced.
Did I miss the NZX announcement?