This update adds GFF, SKT & SKC to the List
Further to rumblings made by Bruce Sheppard on behalf of the New Zealand Shareholder's Association in May that in his opinion, roughly 20 listed companies in New Zealand were breaching banking covenants and after writing to these companies 2 so far have replied to Bruce. He is naming names as each company replies to him.
So in total 9 companies on his hit list have been revealed thus far.
1. Fisher & Paykel Appliances [FPA.NZ]
2. Nuplex [NPX.NZ]
3. Tourism Holdings [THL.NZ] - Read THL's letter to Bruce
4. Vector Ltd [VCT.NZ] - Read VCT's letter to Bruce
5. Freightways Ltd [FRE.NZ] - Read Bruce's letter to FRE & the reply
6. Skellerup Holdings [SKL.NZ] - Read Bruce's letter to SKL & the reply
7. Comvita Ltd [CVT.NZ] - Read Bruce's letter to CVT & the reply
8. Ebos Ltd [EBO.NZ] - Read Bruce's letter to EBO & the reply
9. Abano Healthcare Group [ABA.NZ] Read Bruce's letter to ABA & the reply
10. Metlifecare Ltd [MET.NZ] Read Bruce's letter to MET & the reply
11. Restaurant Brands Ltd [RBD.NZ] Read Bruce's letter to RBD & the reply
12. Kirkcaldie & Stains [KRK.NZ] Read Bruce's letter to KRK & the reply
13. Sky Network TV [SKT.NZ] Read Bruce's letter to SKT *
14. Sky City Entertainment Group [SKC.NZ] Read Bruce's letter to SKC & the reply
15. Goodman Fielder [GFF.NZ] Read Bruce's letter to GFF & the reply *
I will post the rest here as and when the other 5 odd companies reply to Brucie.
The laggers need to get a wriggle on, otherwise it wont look good for them.
Bruce is going to list those that didn't reply to him next week.
Disc I own FRE, SKC & GFF shares in the Share Investor Portfolio
NZ Shareholders Association
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