Brian
Marshall ATCL. - My CV and
What
I would suggest if I was on the Board
----- Share price:
- As of July. 21st. 2023 - no open market deals done since the €1.91
a share buy-back announced.
FBDplc.com
Shareholder Survey Results -
the views of the 168 shareholders who replied since July 2018.
Latest News:- 27th June. The AGM approves the 14c dividend. The meeting
heard reasonably good positive reports of how things are going, esp. in
Spain, and with Holdings, and I believe that the Company now has at least
a sustainable dividend at the 14c level going forward. I think our present
Chairman Pat Murphy also is better minded to bring the Company to currently
expected standards of Corporate Governance than has been the case heretofore,
and some of the shareholder questions from the floor showed that there is
shareholder appetite for this too.
Having Ann Moore on the Board is just a start. Our Constitution needs the
rest of the changes I have been fighting for for 8 years !
A few negatives: - 1] Cost pressures are still very present in Irish hotels,
and likely to stay. David Kelly doesn't foresee much progress next year
from the good levels achieved in Ireland this year. 2] There is no functioning
market for our shares at present 3] We are now paying slightly more on our
debt than the Holdings Bond brings in. 4] We have taken a huge 40% writedown
to Bulberry, and won't be selling it soon.
8th March. FBD Holdings announce profits of €81m
and a €1 per share dividend.
This is great news for FBDplc holders, and should allow either another buy-in
of shares for treasury or cancellation, and a dividend increase, or special
dividend.
11 December:- FBD Holdings plc announces the following financial
calendar for 2024:
Announcement of Results for 2023 - Friday, 08 March 2024
2023 Annual General Meeting - Thursday, 09 May 2024
Publication of Half Yearly - Friday, 9 August 2024
18th October - Update on Share Sale Scheme:- Farmer Business Developments
plc has issued an update on its August-September Share Sale Scheme, saying
the Company is pleased to confirm that the scheme was fully subscribed with
over 300 applicants applying to buy over 3m shares.
25th August - The Company has bought/traded 1,907,034 shares in the latest,
€1.91 per share, offering. The offer was 21% over-subscribed, but the
Company increased the amount in the buyback by €640,000 and accommodated
all selling shareholders.
16th August - The Company has not released details yet, but it has again
purchased from existing shareholders, and is offering for resale to existing
or new shareholders, shares at €1.91.
August 11th. FBD Holdings results : - KEY HIGHLIGHTS -- Profit
before tax of EUR39m under IFRS 17 compared to EUR3m in 2022. - Special
dividend approved of 100 cent per ordinary share. -- Insurance revenue increased
by 4.5% to EUR195m. -- Written policy count increased by 2.6%. -- The Covid-19
related Business Interruption best estimate reduced by EUR15m to EUR27m
net of reinsurance since year-end 2022 following conclusion of the test
case. -- Retention levels of existing business increased by 0.2% year on
year.
Following these results, FBD Developments intends to pay out the Holdings
'Special Dividend' to it's shareholders.
May 11th - FBD Holdings in line Trading
Statement - "Overall, we remain confident in the underlying profitability,
future growth prospects, capital strength of the business and in our ability
to continue to provide excellent service to our customers.”
March 10th 2023. FBD
Holdings results for 2022 - profit down but other metrics looking positive.
€1 per share dividend
Feb. 3rd - The Official Company
statement on Padraig's death is HERE
Feb.2nd - THE
UNTIMELY DEATH HAS TAKEN PLACE OF OUR CHAIRMAN, PADRAIG WALSHE, ON FEB.1ST
2023
Although this website has in the past been critical of some of the Companys
decisions, or lack of them as the case sometimes was, I am in shock at Padraigs
passing. I always found him to be curtious and polite in all our dealings
and exchanges, even if those exchanges were at times robust . His broad
smiling face greeted everyone at the AGM, and a big firm handshake.
He was a strong, forceful leader, committed to his beliefs, surrounding
himself where he could with those who shared his vision. The Company will
not find it easy to replace him with someone who has the same business,
and business of farming, experience. Nor will it be easy to replicate his
circle of influence and network of contacts.
RIP Big Fella !!!!
FBD Holdings Financial timetable
2023 - Final results - Friday, 10 March 2023.
AGM Thursday, 11 May 2023. . . . . . Half Year Results - Friday, 11 August
2023
August 18th:-
Farmer Business Developments plc pays out €4.4m to Farmer Shareholders
in an increased Voluntary Share Buy-back Scheme.
This I view as a VERY positive decision by the Board. The original €2m
scheme limit would have been totally inadequate to deal with the huge pent-up
demand for a half-decent exit price. The Board should have foreseen this
demand - I've been telling you all about it for years !!!
We now should have vastly reduced our number of "looking for an exit"
small shareholders. 421 sold an average of just over 5000 shares each. Overall
shareholder numbers are down by over 10%.
A good result, but that still leave almost 70 shareholders who were looking
to sell 900,000+ more shares at that price. There are still a lot of potential
sellers. It's time to enable new, willing, shareholders.
To that end we should scrap the Constitutional 3 year IFA
membership and FBD user rules for potential new shareholders to make
it much easier.
June - AGM
PRESENTATION by Padraig. Things seem to be going reasonably well. I
especially like that the Board have found and enabled a way of letting shareholders,
especially smaller shareholders, sell their shares at a 75% premium to the
85c/90c that the Grey market was offering.
Of course, IF the Company had abolished the Constitutional 3 year IFA and
FBD Insurance membership rule as I have repeatedly suggested, (as the Company
vets potential shareholders anyway) all this would not have been necessary,
as there would have been more new shareholders to drive up the shareprice.
David Kelly also gave a presentation [Read
HERE] on what's happening at Property and Leisure, - which I view as
quite positive in present circumstances
April 2nd - I will not be going
for election this year. Even though my fully correct nomination was lodged
by email by the closing date, my nomination letter arrived on April 2nd,
so the nomination was counted by the Company as invalid.
March 4th. Holdings
release very good full year results.
Profit before tax €110m . EPS €2.34. Capital ratio strong. Net
assets per share up by over €2 to €13.38. DIVIDEND €1 per
share
My Comment: - Given the strength of Holdings dividend, and the increase
in Holdings Share price in the last year, there is now no good reason why
FBDplc's shareholders should not get a final dividend of at very least 7c
per share.
Feb. 14th FBD
Hotels and Resorts buys the Killashee hotel in Kildare, for €25 Million.
My comment: - We still have lots of debt, and this adds to it. The wisdom
of buying yet another hotel has to be questioned, especially one that may
increase the total number of employees by 30%. Has the pandemic not taught
our Board the dangers of putting all the eggs in one basket?
At another angle - Padraig has always insisted that this Company needs to
retain its farmer shareholders owner basis because "that's what those who
set up the Company wanted". Does he REALLY believe that FBDplcs founding
shareholders envisaged the group becoming leisure property and hotels focused,
(as opposed to FARMER BUSINESS DEVELOPMENTS)
Surely the present business structure of the PLC makes a mockery of the
"you have to be a farmer for 3 years before applying" rule in
the Constitution. IT'S HIGH TIME THAT RULE WAS SCRAPPED
So why have I set up this site ? I, as a shareholder with more shares than that declared by any Board member, am fed up with being in the dark as to how this Company is being run. I'm not happy about it, and neither should you be. I intend using this site to ask questions that should have been answered long ago, should be answered now, and may need to be answered in the future.
I also want to try to get enough
backing from you the Farmer shareholders to possibly put AGM motions forward,
to ensure openness and less secrecy.
& I will make suggestions to the Board on how to correct
THE 2016 CONSTITUTION which is faulty in my opinion.
Although you won't get the Board to admit it, I believe it's in great part because of my pushing that we now have a female Board member at last !
I want to work for the good of OUR Company and I want ALL shareholders
to know what's going on in OUR Company.
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