Fletcher Building Ltd (“FBU”) – Trading Halt of Securities

NZX Limited
Level 2, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com

Memorandum

To:
Market Participants
From:
NZX Product Operations
Date:
Monday, 23 September 2024
Subject
: Fletcher Building Limited (“FBU”) – Trading Halt of Securities


Message
:
NZ RegCo has approved a trading halt application from Fletcher Building Limited (“FBU”).
Trading in FBU equity shares was halted prior to market pre-open today.

Attached is the trading halt application, for further information.

Please contact NZX Product Operations on +64 4 496 2853 or productoperations@nzx.com
with any queries.

ENDS

---

Fletcher Building
Limited
Private Bag 92114
Auckland 1142
810 Great South Road
Penrose
Auckland 1061
New Zealand

fletcherbuilding.com
+64 9 525 9000

23 September 2024

To: ASX Limited
20 Bridge St
Sydney NSW 2000
Australia
TradingHaltsNZ@asx.com.au
NZ RegCo
11 Cable St
Wellington
New Zealand
issuer@nzregco.com
Request for trading halt: Fletcher Building Limited (ASX Code: FBU; NZX Code: FBU)
We request a trading halt to be applied to Fletcher Building Limited’s (Fletcher Building) ordinary
shares (ISIN: NZFBUE0001S0) under ASX Listing Rule 17.1 and NZX Listing Rule 9.9.1(a) and set out
below details of the request as per the rules of each of ASX and NZX.
We would like the trading halt to commence from prior to the commencement of trading today, 23
September 2024 and being lifted at the earlier of: (i) announcement of completion of the placement and
institutional offer described below; and (ii) opening of trading on the NZX and ASX on Wednesday, 25
September 2024.
Reasons for trading halt:
Fletcher Building is proposing to raise approximately NZ$700 million of new capital by way of an
approximately NZ$282 million placement (Placement) to be conducted by Jarden Securities Limited
(Lead Manager), together with an approximately NZ$418 million accelerated non-renounceable
entitlement offer (ANREO). The Placement and the ANREO are to be fully underwritten by Jarden
Partners Limited (together with the Lead Manager, Jarden).
Fletcher Building considers that a trading halt is desirable to enable Jarden and Fletcher Building to
conduct the Placement and the institutional entitlement offer component of the ANREO and determine
the allocation of shares. Fletcher Building considers that, but for the trading halt, the Placement and the
institutional entitlement offer component of the ANREO process would impact a fair, orderly or
transparent market as information about the Placement, the institutional offer component of the ANREO
or take up by investors may be known by some market participants and not others, so the market would
not be trading on a fully informed basis.
As soon as the Placement and institutional entitlement offer component of the ANREO and the allocation
of shares under them is completed, Fletcher Building will be in a position to release details of the results
of the Placement and institutional entitlement offer component of the ANREO to the market. Fletcher
Building believes that such information will be price sensitive.
How long we want the trading halt to last:
We would like the trading halt to last up to two trading days, commencing from the commencement of
trading on Monday, 23 September 2024 and being lifted at the earlier of: (i) announcement of the
outcome of the Placement and institutional entitlement offer component of the ANREO, and (ii) opening
of trading on the NZX and ASX on Wednesday, 25 September 2024.
The event we expect to happen that will end the trading halt:
We expect the trading halt to end once we are in a position to announce the outcome of the Placement
and institutional entitlement offer component of the ANREO. We expect this to occur on Tuesday, 24
September or before market open on the NZX and ASX on Wednesday, 25 September.
Other information necessary to inform the market about the trading halt or that ASX or NZ RegCo
have requested:
We do not believe that there is any other information necessary to inform the market about the trading
halt.

2

We confirm that we are not aware of any reason why the trading halt should not be granted.

Yours sincerely


Haydn Wong
Group General Counsel and Company Secretary