Published 8 March 2008 Investors in Feltex Carpets Ltd have filed a representative action in the Christchurch High Court against directors & advisors on the company’s 2004 prospectus. The representative compensation claim has been filed by law firm Wakefield Associates on behalf of Eric Houghton & Darryl Jones against: Tim Saunders, Waipara; John […]
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Securities Commission finds no fault in Feltex prospectus
Published 12 October 2007The Securities Commission has found the Feltex Carpets Ltd IPO prospectus in 2004 wasn’t misleading, but the company failed in some elements of disclosure. The commission inquired into the prospectus and the company’s compliance with financial reporting & continuous disclosure obligations. It concluded that: the IPO prospectus was not misleading in any […]
Read more →Robb conclusion leads Feltex investors to pursue recovery case
Published 1 August 2007 Accounting academic Alan Robb has described the Feltex Carpets Ltd 2004 IPO investment statement as misleading & deceptive, supporting a campaign to sue those involved in the float. And Chris McVeigh QC has recommended to litigation manager Wakefield Associates, of Christchurch, that it proceed to issue joint proceedings to recover […]
Read more →Feltex sale completed
Published 3 December 2006 Feltex Carpets Ltd’s receivers – Colin Nicol, Peter Anderson & Kerryn Downey (McGrath Nicol & Partners (NZ) Ltd) – have completed the sale of the company’s assets & operations to the Godfrey Hirst Group of Australia. On completion of the sale on Friday, the company’s name was changed to Exftx Ltd. […]
Read more →Godfrey Hirst cleared to take over Feltex
Published 1 September 2006 The Commerce Commission has cleared Godfrey Hirst NZ Ltd to acquire some or all of the assets of Feltex Carpets Ltd. Commission chairman Paula Rebstock said the commission was satisfied the proposed acquisition would not , or would not be likely to, substantially lessen competition in any of the relevant […]
Read more →Feltex shareholders to get 12c/share from sale to Godfrey Hirst
Published 2 August 2006 Feltex Carpets Ltd has entered into an agreement for the sale of its operations to the Godfrey Hirst Group of Australia.If Feltex shareholders approve the transaction and all other conditions are satisfied, Feltex shareholders should get back up to 12c/share. The price was 36c 6 weeks ago and got down to […]
Read more →Feltex considers equity-raising as it anticipates $20 million ebitda
Published 11 June 2006 Feltex Carpets Ltd said on Wednesday it expected to report ebitda of $20-21 million for the June year, after normalising the result by eliminating actual costs incurred due to restructuring & one-off corporate costs. The company said if the exchange rate had been at present levels for the whole year ebitda […]
Read more →Thomas stays on as Feltex chief executive
Published 28 November 2005 Feltex Carpets Ltd has confirmed Peter Thomas as its chief executive, after he became an executive director in August, when Sam Magill stepped down as chief executive (his departure from the board is taking longer). Mr Thomas has been a director since 1997. Feltex went on an international search before coming […]
Read more →Godfrey Hirst takes 5.78% of Feltex, talks merger
Published: 28 June 2005 Godfrey Hirst Australia Pty Ltd has picked up 5.78% of Feltex Carpets Ltd onmarket in the past week at an average price of 45.8c/share. The price closed today at 61c. The Melbourne-based carpetmaker stood in the market for 5% this morning, but later took off the lid. Godfrey Hirst finance director […]
Read more →Feltex makes Q3 loss
Published: 14 April 2005 Feltex Carpets Ltd confirmed its dire 1 April profit warning yesterday by declaring an $880,000 loss for the 3rd quarter, down from $2.4 million last year. Ebitda fell 60.5% to $3.4 million. Feltex said rebates offered to retailers for meeting sales targets meant end-of-month sales could be high after a poor […]
Read more →Feltex slashes earnings projections
Published: 1 April 2005 Feltex Carpets Ltd has dropped its earnings guidance for the year to June by about a third, and its share price was slashed from $1.50 to $1.04 during the morning in the backlash. Directors said full-year sales would be $295-305 million, down $10-15 million from the interim report guidance of a […]
Read more →Feltex earnings $1.1 million ahead of forecast
Feltex Carpets Ltd increased its net surplus for the June year by 65%, from $6.8 million to $11.2 million, and topped its IPO prospectus forecast by $1.1 million. Net profit after tax, excluding one-off items, was $27.2 million, compared to $6.8 million in the previous year, on revenue up 4.3% ($14 million) to $328 million. […]
Read more →Feltex float opens
Feltex Carpets Ltd confirmed its intention to list on the NZX through the launch today of a public share offering, giving it market capitalisation of $254-284 million at the $1.70-1.95/share indicative price range set under the offer. The final price will be set on Monday 24 May after a book-bind process is completed.The Feltex offering […]
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