12 November 2002   |   Announcements

Approval Gained for All Resolutions Put to Annual Shareholders' Meeting

Fletcher Building advises that all resolutions put to the Annual Shareholders' Meeting, in Auckland today, were passed.

The resolutions:

  • Approved the acquisition of the Laminex Group, Australia's leading manufacturer and marketer of decorative laminates and decorated wood panels.
  • Ratified the placement of 43.7 million shares undertaken in September 2002 in partial funding of the Laminex acquisition.
  • Approved the reissue of capital notes in Fletcher Building held by the company as treasury stock; and to issue new capital notes up to a value of NZ$150 million.
  • Re-elected Sir Dryden Spring and Mrs Kerrin Vautier as directors.
  • Approved the directors fixing the auditor's remuneration.
  • Altered the Company's constitution to ensure consistency with the listing rules of the Australian Stock Exchange.

A sufficient number of eligible votes have been counted to confirm each resolution has been passed. Final voting tallies in respect of each will be announced tomorrow, 13 November 2002.