Scrip Articles

Proposed trust tax increase a further nail in the coffin for individual shareholders

NZSA Disclaimer Back in July 2023, the due date for responses to one of the previous government’s lesser-publicised bills was coming up fast. It was Mataraki weekend – the new public holiday to recognise the Māori New Year. Clearly, it wasn’t a holiday that meant much to the Finance and Expenditure Select Committee, with consultation…
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GEO Limited – 2024 Special Shareholders Meeting Report

Special Meeting Report, January 23 2024 Click here for NZSA Assessment and Voting Intentions The Chair Tim Molloy outlined the rationale behind the company seeking shareholder approval to delist from NZX – mainly the compliance costs, which were disproportionate for the size of the company and limited its ability to expand, and the lack of…
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Winton Land Limited – 2024 Special Shareholders Meeting Report

Special Meeting Report, January 22 2024 Click here for NZSA Assessment and Voting Intentions The Chair and CEO, Chris Meehan, opened the meeting – setting out the purpose being to approve the sale of shares by Wanaka Partners LLC, to Perpetual Corporate Trust Limited as custodian for Akarua at $2.50 per share. The shares are…
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Will fast food give shareholders a bad case of gout?

NZSA Disclaimer At a Special Meeting held on December 14th, shareholders of Burger Fuel approved a special resolution for the return of capital to shareholders. Or did they…? A deeper analysis of the shareholder voting results gives a slightly different picture as to the outcome. The ‘raw’ vote by shareholders is shown in the image below:…
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NZ Windfarms Limited – 2023 Special Shareholders Meeting Report

Special Meeting Report, December 20th 2023 Click here for NZSA Assessment and Voting Intentions This was never going to be an open-and-shut meeting. NZ Windfarms had announced a partnership with Meridian Energy on the same date of its (previous) Annual Shareholder Meeting, October 26th. This was now the subject of this special meeting, seeking shareholder…
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Rural Equities Limited – 2023 Annual General Meeting Report

Annual Meeting Report, December 6th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2020 2021 2022 2023 Change Revenue $11.6m $13.1m $15.4m $16.6m 8% Operating Income $5.0m $6.4m $6.8m $8.1m 19% NPAT $2.3m $12m $12.8m $5.6m -56% Adj in fair value -$1.7m $7.1m $7.6m -$0.4m n/a EPS1 $0.072 $0.403 $0.45 $0.20 -56% PE…
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Hallenstein Glasson Holdings Limited – 2023 Annual General Meeting Report

Annual Meeting Report, December 12th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2020 2021 2022 2023 Change Revenue $287.8m $350.8m $351.2m $409.7m 17% Gross Profit $169.2m $201.2m $202.3m $234.8m 16% Operating Profit $39.2m $49.3m $37.1m $47.8m 29% NPAT $27.8m $33.3m $25.6m $32.0m 25% Gross Profit Margin 59% 57% 58% 57% n/c EPS1…
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Sanford Limited – 2023 Annual General Meeting Report

Annual Meeting Report, December 18th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2020 2021 2022 2023 Change Revenue $468.8m $489.6m $531.9m $553.4m 4% Gross Profit $82.5m $68.8m $96.9m $108.6m 12% NPAT $19.4m $16.2m $55.8m $10.0m -82% Gross Profit Margin 18% 14% 18% 20% 8% EPS1 $0.207 $0.173 $0.597 $0.107 -82% PE Ratio…
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A few highlights from 2023…

NZSA Disclaimer As I write this final (short) article for 2023, I am enjoying a 30-degree day with a swimming pool nearby. Holiday mode is very close to setting in. And yet for many, 2023 has been a difficult year. The impacts of rising interest rates have been felt by all, with the resultant slowdown…
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Event Report – Waikato Branch

Waikato Branch Company Visit, November 28th On 28 November, our guest speaker was Rob Campbell, a man who has had many roles in his life such as an economist, trade unionist, businessman and public servant. First, he thanked the NZSA for all the work it does for personal investors.  Its approach and contributions are very…
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