PGC - Licenced to Bank

[Nigel]

"Relatively unscathed"?! Dude! Subsidiary BSH is unaffected, but I'd say there are some pretty tragic impacts on PGC as a business - the people being the major one, the buildings and disrupted operations being secondary. A terrible day for New Zealand; our thoughts are with everyone in Christchurch tonight.

[climbtree]

Definitely. I suppose insurance might cover the building losses but having something like that happen is definitely going to interfere with buisiness. Another consideration, though I think they have a wider range of shareholders now, is that the major investors are from that region. They'll need money. Last earthquake saw PGCs share price drop iirc.
It's also rather unfortunate that they've merged to form a building society after the entire country has seen their building completely demolished. Even if the company is fine, I imagine confidence of both investors and employees will take a hit. My prayers are with them.

[brucey09]

my thoughts go to all you christchurch people - care

[skeet]

My brother works for PGG, a stock agent for mid canterbury. He isnt based in chc so he was fine but will lose work mates I would think

[CJ]

Definitely. I suppose insurance might cover the building losses

They dont own the building so their disaster recovery plan will be key. They will need to find new premises, get your office equipment and hopefully their servers were offsite or replicated offsite so they can get those going quickly.

The biggest impact will be their staff. Even those that are unscathed will likely be going through a lot personally, in relation to colleagues, family, friends and their own houses. You wont be focused on working long hours to get the new bank up and running would you.

[Grantas]

Just a change of topic ..anybody know the record date for the allocation of BSH shares to PGC shareholders?

[percy]

Just a change of topic ..anybody know the record date for the allocation of BSH shares to PGC shareholders?

Not announced as yet.PGC are due to report in the next few days.A previous poster said 25/2/11,but may be put off a short time.I expect a lot of information with the report.

[geezy]

NZ is really running on a spate of bad luck, i have had two holdings PRC and coincidentally PGC (P and Cs) facing really sad news of loss of life. I wish all the families involved all the best and stay strong.

[GTM 3442]

NZ is really running on a spate of bad luck, i have had two holdings PRC and coincidentally PGC (P and Cs) facing really sad news of loss of life. I wish all the families involved all the best and stay strong.

Geezy - what else go you hold - just as a warning ? ! ?

[geezy]

haha GTM3442, tell me what u own then i shall buy that