Extension of trading halt
Request for Further Trading Halt
Auckland, February 12 2018: Fletcher Building has requested a further trading halt (suspension in the case of
the ASX) of its shares and capital notes on the NZX and ASX exchanges. The request has been made
because the review of the key projects in its Building and Interiors (B+I) business as part of the preparation
of the Group accounts for the six months ended 31 December 2017 is still ongoing and not yet complete.
As announced on 8 February 2018, the current expectation of the Board is that there will be further
material losses in the B+I business beyond what was provided for in October 2017 and that once those
further losses are determined and provided for, this will result in a breach of one or more of the covenants
in the Group’s financing arrangements.
Since making the 8 February announcement, the Company has commenced discussions with its lenders in
relation to the expected covenant breaches.
The Company expects the trading halt to continue until the commencement of trading on Wednesday
14 February 2018 prior to which it will provide to the market an update of its review and the status of its
discussions with its lenders.
#Ends
For further information please contact:
Leela Gantman Rodney Deacon
Head of Communications Head of Investor Relations
+64 27 541 6338 +64 21 631 074
Leela.gantman@fbu.com Rodney.deacon@fbu.com
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
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