MPG - Metro Glass

[winner69]

NZSA released their AGM voting intentions to members.

I note that they intend to support three of the proposed director (re-)elections, but take a stand against Sir John Goulters re-election.

They indicate that they have some reservations regarding board decisions made under his leadership (as well on other boards - Marsden Maritime) and feel that he should take responsibility for the recent underperformance of MPG under his leadership.

They intend as well to oppose the proposed increase of the directors fee pool (again citing the recent underperformance, but as well that it is already now quite high compared to other companies of comparable size and complexity).

Good to see them taking a stand for retail shareholders ... they do have my proxy vote.

If you want to support them - you could give them your proxy vote as well (not just for this AGM), you could vote with them ... and obviously - you could join them: https://www.nzshareholders.co.nz/

That's how my vote is going

Sir John was appointed to give the company additional credibility for the IPO

IMO he's done a poor job as Chairman but worse still he appears as if he has been a useless job in mentoring/ helping Rigby in the ins and outs of being in charge of a listed company. A good operator but needed help in that area.

[Oliver Mander]

Note that they have just withdrawn resolution 6 from the meeting....so no increase in the director fee pool.
I am guessing that's some response to the public chatter in the media and as expressed in this forum...?

https://www.anzsecurities.co.nz/Dire...spx?id=4502642

[winner69]

Note that they have just withdrawn resolution 6 from the meeting....so no increase in the director fee pool.
I am guessing that's some response to the public chatter in the media and as expressed in this forum...?

https://www.anzsecurities.co.nz/Dire...spx?id=4502642

A pay cut .....ha ha

Hoped Sir gets the chop ......but he'll survive but with 30% odd voting against him.

Rather have somebody else in charge

[Leftfield]

Note that they have just withdrawn resolution 6 from the meeting....so no increase in the director fee pool.
I am guessing that's some response to the public chatter in the media and as expressed in this forum...?

https://www.anzsecurities.co.nz/Dire...spx?id=4502642

Another victory for NZSA who played a large part in this. I strongly recommend serious Share Traders consider joining this org as it does excellent work.

[bull....]

bearish wedge pattern in the making?

that bearish wedge pattern .... yes just like we say chart never lies

[bull....]

20. April:


31. May:


today:


Yeah - didn't your impeccable analysis tell us around 130 that MPG is ways overvalued? Look bull, maybe you should rename yourself to "bear" or alternatively take some basic lessons in how to research stock ...

It sort of sounds however you have some personal grievance with them ... why don't you tell us about your real agenda?

my analysis is good

[BlackPeter]

my analysis is good

Is it? In this case, why didn't you tell us about it? You didn't say that you expect a somewhat soft year (with similar results as the last one -i.e. not too bad) and increasing revenue and margins from there ...

Well, at least this is what they said today:

• While we remain optimistic on the medium term picture, activity levels in New Zealand have been soft
  so far this financial year, with revenue growth in the first four months being relatively flat, including continuing declines in Canterbury
• Given the current conditions we are seeing in the market, we expect the Group’s first half results to be similar to those achieved in the first half last year, which was a particularly strong half. Activity levels to date have been below our expectations and as we had resourced the business accordingly there will be a need to adapt and pursue efficiency initiatives through the second half of the year
• We said in the 2017 Annual Report that we anticipate improved results in the 2018 year, which we continue to anticipate, but this will be dependent on any adverse changes in market conditions. We will further update investors with our expectations for the full year when we release our half year results in November

Does not sound too bad to me, but maybe you just need a bit more time to analyse - do you ?

[Beagle]

I for one do not think the SP reaction this morning is a rational response to the market update they provided.

[bull....]

research suggests risks around productivity and execution and in being able to translate this into meaningful margin increase also she be right attitudes also slow down becoming evident.

posted this in april so i did say my research showed not all good i just didnt detail it,

so myself and winner both say mpg was aligned with building cycle closely and slowdown was apparent

[t.rexjr]

Is it? In this case, whey didn't you tell us about it? You didn't say that you expect a somewhat soft year (with similar results as the last one -i.e. not too bad) and increasing revenue and margins from there ...

Well, at least this is what they said today:

Others have tried to suggest this may be the case...