Announcements     |   12 November 2002

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.