Frequently Asked Questions

We have put together a selection of questions and answers which are of interest to Fletcher Building shareholders.

If you have a question which is not contained in this section, please email us.

Click on the list of question groupings below to view the individual questions for each or scroll down the page to view each question followed by the answer.

What are the major components of Fletcher Building's business?
Fletcher Building manufactures, distributes and sells materials for the building industry through five divisions: Building Products; Infrastructure; Laminates & Panels; Distribution; and Steel. It has operations in New Zealand, Australia, Asia, Europe, the Pacific, North and South America.

What are Fletcher Building's major businesses?
Building Products: AHI Roofing, Decra Roofing Systems, Dimond, Fletcher Aluminium, Fletcher Insulation, Forman Group, Tasman Access Floors, Tasman Insulation NZ, Tasman Sinkware and Winstone Wallboards .
Infrastructure: Firth Industries, Fletcher Construction, Fletcher Residential, Golden Bay Cement, Humes Pipeline Systems, Rocla Pipeline Products, Rocla Quarry Products, and Winstone Aggregates.
Laminates & Panels: Formica Corporation and The Laminex Group.
Distribution: PlaceMakers.
Steel: Dimond, Fletcher Easysteel, Pacific Coilcoaters, Pacific Steel Group,CSP Coating Systems,Fletcher Reinforcing, and Stramit.

How often does Fletcher Building report its results and when will this occur?
Fletcher Building's balance date is June 30. It will report six monthly, an interim result announced in February and an annual result announced in August.

How is Fletcher Building managed?
There are eight Directors on the Board of Fletcher Building including the Chief Executive Officer. The Fletcher Building Board has three sub-committees that act and make recommendations to the full Board on certain matters: Audit Committee, Nominations Committee and Remuneration Committee.

Under what ticker does Fletcher Building appear on the New Zealand and Australian Stock Exchanges?
NZX : FBU, ASX : FBU

What is the Company's dividend policy?
Fletcher Building does not have a specific dividend policy but rather sets dividends having regard to free cashflow, retaining a robust financial standing, a desire to have a steady but rising dividend rate and the ability to attach tax credits to dividends.

Do the dividends carry any imputation or other tax credits?
While there is no assurance to tax credits being available for all dividends the Company seeks to ensure that its dividends have full New Zealand taxation credits attached. Where available, Australian franking credits are also attached to the dividend.

How are dividends paid?
Payments may be made either by cheque or direct credit (to New Zealand or Australian bank accounts only), or in the form of additional shares as part of the Dividend Reinvestment Plan.
 
When a dividend is paid shareholders will receive a dividend advice at their registered address stating the amount they have been paid as well as information to assist in the completion of their tax return, if they are required to file one.
 
Computershare can also provide a consolidated Dividend and Interest Notice showing all dividend and interest paid during the tax year by companies for which they act. This statement is available soon after 1 April each year by contacting Computershare. A fee of $15.00 is payable.

How do I join the Dividend Reinvestment Plan?
To have future dividends reinvested in additional shares you should download a copy of the DRP (Dividend Reinvestment Plan) Offer Document and Election Form, print and complete the form and return it to Computershare (address below).

How do I have my dividends credited to my bank account?
Payment by direct credit to your bank account is the safest and quickest way to receive "cash" dividends. If you wish to add or change your banking instructions, print and complete the Direct Credit of Dividend Payment Form and fax or post it to Computershare (address below). For added protection you should include a bank deposit slip with the form.

Who do I contact if I have questions about Fletcher Building dividends?
If you have any questions about your shareholding or about dividends, you should contact the share registry in New Zealand or Australia. You can also contact us by clicking here.

What do I do if the dividend cheque is out of date?
If you have a dividend cheque that was issued more than 6 months ago, it will no longer be accepted by the bank. You will need to return the cheque to Computershare with a request to cancel and reissue the payment.

What do I do if the dividend cheque has been lost or stolen?
If you have misplaced a dividend payment or the cheque has been stolen, you will need to send a fax or letter to Computershare, requesting the payment be cancelled and reissued.

What are Fletcher Building or Fletcher Building Finance capital notes?
Capital notes are long-term fixed rate unsecured subordinated notes issued by Fletcher Building Limited or Fletcher Building Finance Limited. Because they are principally debt instruments changes in their value are more attributable to the company’s credit standing, and New Zealand debt markets, than to changes in equity markets. The capital notes are listed debt instrument on the NZX, and can be traded on that exchange through a stockbroker.

Is any tax paid on capital notes?
Capital notes are a debt instrument and under New Zealand tax legislation both the interest received on the notes, and any change in the market value of the notes are subject to tax. For many note holders this change in annual value of a capital note is subject to tax on an accruals basis. An individual who is a New Zealand resident with financial instruments in total of less than $600,000, or accrual income of less than $70,000 may be able to file their annual tax return on the basis of cash receipts only.

Non residents may be subject to deduction of non-resident withholding tax on interest which is generally 10 percent under New Zealand’s Double Tax Agreements. In addition the company has secured Approved Issuer Levy status on the capital notes such that the deduction of non-resident withholding tax is not required under New Zealand legislation, but a levy of 2 percent of the interest is payable. Non-resident holders may also be subject to tax on the interest received in their home jurisdiction.

How often is interest paid on capital notes?
Interest is paid semi annually on capital notes, and the date varies depending on the series of notes you are holding, although they are generally 15 March and 15 Sepotember each year.

How is interest paid on capital notes?
Payments may be made either by cheque or direct credit to New Zealand bank accounts only.

When interest is paid you will receive an interest advice at your registered address stating the amount you have been paid as well as information to assist in the completion of your tax return, if you are required to file one.

Computershare can also provide a consolidated Dividend and Interest Notice showing all dividend and interest paid during the tax year by companies for which they act. This statement is available soon after April 1st each year by contacting Computershare. A fee of $15.00 is payable.

How do I have my interest payments credited to my bank account?
Payment by direct credit to your bank account is the safest and quickest way to receive "cash" dividends. If you wish to add or change your banking instructions, print and complete the Direct Credit of Dividend Payment Form and fax or post it to Computershare (address below).

Who do I contact if I have questions about Fletcher Building capital notes?
If you have any questions about your capital notes, you should contact the share registry in New Zealand or Australia. You can also contact us by clicking here.

What do I do if the interest cheque is out of date?
If you have an interest cheque that was issued more than 6 months ago, it will no longer be accepted by the bank. You will need to return the cheque to Computershare with a request to cancel and reissue the payment.

What do I do if the interest cheque has been lost or stolen?
If you have misplaced an interest payment or the cheque has been stolen, you will need to send a fax or letter to Computershare, requesting the payment be cancelled and reissued.

What happens on the maturity/election date of the capital notes?
On each election date, the coupon rate and term to the next election date of that series of the capital notes is reset. Holders may then choose either to keep their capital notes on the new terms or to convert the principal amount and any accrued but unpaid interest into shares, in the prescribed ratio at approximately the current market price. Instead of issuing shares to holders who choose to convert, Fletcher Building may, at its option, purchase or redeem the capital notes for cash at the principal amount plus any accrued but unpaid interest.

What happens when interest is due to be paid on a weekend, when will I receive my funds?
The interest payment will be posted or direct credited on the next working day.

What are the key major terms of a capital note?
The key terms of the capital notes such as election date, coupon, and interest rate vary depending on which series of notes you hold all other terms of the notes are contained in the Trust Deed a copy of which can be requested on payment of any fee prescribed by statue by contacting the Trustee, Perpetual Trust or the Company.

How do I buy or sell capital notes?
One method to sell or buy capital notes is to contact a licensed sharebroker to arrange the transaction. There are many sharebrokers that you may choose from, most of whom can be found in the Yellow Pages (www.yellowpages.co.nz) or on the NZX (www.nzx.com) website.

Who is Fletcher Building's share registrar in New Zealand and how do I contact them?
Fletcher Building's share registrar is

Computershare Investor Services Ltd.
Level 2, 159 Hurstmere Road
Takapuna
Auckland

Private Bag 92 119
Auckland

Phone: +64 9 488 8777
Fax: +64 9 488 8787
Email: enquiry@computershare.co.nz
Web site: www.computershare.co.nz/investorcentre

What is a Shareholder Number?
Your shareholder number is essentially your "customer" number. It identifies you and your current shareholding on the Computershare Investor Services system.

What is a CSN?
A "CSN" is a "Common Shareholder Number" and is a number allocated to shareholders by the NZX. It is used to identify shareholders, who may have shares managed by more than one Share Registry, by way of a common number. To obtain a CSN and common FIN you should contact your stockbroker.

What is FASTER?
FASTER stands for Fully Automated Screen Trading and Electronic Registration. In simple terms, FASTER is the system the NZX uses for the electronic transacting of share purchases and sales.

What is a FIN?
Your FIN (Faster Identification Number) is a security device, which operates in a similar way to a PIN on a bank account. You should keep your FIN in a safe place or commit it to memory. You will, however, be required to advise your Stockbroker of your FIN, when you wish to sell some shares.

What do I do if my FIN is lost or stolen?
If you believe that your FIN may have fallen into the wrong hands or if you wish to change your FIN for any other reason, you should contact your Stockbroker and ask them to change it. You may either specify the 4 digit number you wish to have as your new FIN or you may allow FASTER to generate a new random number for you. In either case the registry shall mail confirmation of the new FIN to the address they have recorded for you on the register. As your FIN is confidential they will not verbally advise you of the number.

What do I do if I change my address?
If you have moved or are about to move and wish to update the address held on the share register, you should print off and fill out a Change or Correction of Address Form Change or Correction of Address Form. Once complete, fax or post it to Computershare Investor Services Ltd (the details are on the form). You may also use the change of address card supplied by NZ Post. New Zealand law does not currently recognise electronic signatures, so we are unable to accept an email advising us of a change of address.

What do I do if I change my name?
If you wish to change the registered name on your shareholding, please state the change in writing and forward to Computershare with the following information:
  - your shareholder number, CSN, old name and registered address
  - your new name in full
  - your signature in your new name

The required supporting documentation for the change is as follows:
  - Marriage: Marriage Certificate
  - Divorce: Marriage Certificate AND Decree Nisi
  - Return to maiden name (divorce not necessary): Marriage Certificate and Change of Name Statutory Declaration form
  - Name change for other reasons: Certificate of Change of Name or Amended Birth Certificate

How do I advise Computershare of my IRD number?
If your IRD number was not shown on your last Dividend Advice and you wish to advise Computershare of this number please send Computershare a fax or letter stating the following:
  - your full name and address
  - your shareholder number (from a Shareholding FASTER Statement)
  - your IRD number
  - signatures of all the shareholders

Please note that the provision of your IRD will not change the rate at which dividends are taxed but may alter the rate of tax for interest.

How do I amalgamate my holdings?
You may have more than one shareholder number for various reasons. If this is the case and you wish to amalgamate your holdings, please contact Computershare giving details of the shareholder numbers to be amalgamated.

To avoid your holdings being registered differently in the future, please ensure you provide your current shareholder number to the broker when making a purchase.

How do I transfer my shares to someone else?
If you wish to transfer shares into the name of another person or party, you may arrange an off-market transfer, also know as a standard transfer.

Download and complete an Off Market Transfer Form and fax or post to Computershare.

How do I buy or sell shares?
If you wish to trade securities and shares on the NZX, you will need to contact a licensed Sharebroker to arrange the transaction. There are many Sharebrokers that you may choose from, most of whom can be found in the Yellow Pages (www.yellowpages.co.nz) or on the NZX (www.nzx.com) website.

What is a Security Reference Number (SRN) and how do I find out what my SRN is?
Issuer Sponsored holders are allocated two unique identification numbers - an SRN and a Holder Number. The SRN provides a higher level of security (similar to a credit card PIN); it is only shown on Issuer statements and must be provided to your broker when buying or selling shares. The unique holder number is quoted on other correspondence and cannot be used to sell your holding.

How can I check my shareholding?
Contact Computershare on +64 9 488 8777 or Computershare

How do I advise my change of address?
For Issuer Sponsored holdings: advise the share registry by writing a letter or completing a Change or Correction of Address Form.

For Participant Sponsored (CHESS) holdings: advise your sponsoring participant in writing. They will then advise the share registry of the change.

Acknowledgment of address changes will be mailed to your old and your new address.

What is the difference between Issuer sponsored and Participant sponsored (CHESS)? How do I know what my holding is?
Issuer Sponsored is where shares are held in an uncertificated form, without the requirement for sponsorship by a CHESS participant. Shareholders are not issued share certificates, but instead receive statements detailing their movements and holding balance.

Statements are issued when you first become a holder and are also mailed within 5 business days of the end of any month in which transactions occur. The holding statement also shows your personal Securityholder Reference Number (SRN) identifying the issuer sponsored holding.

CHESS stands for Clearing House Electronic Subregister System. CHESS participants have direct access to the settlement process and can sponsor other securityholders to use CHESS facilities. All stockbrokers are participants, as are most large institutional investors, custodian nominees and trustee companies.

An individual shareholder would generally use a stockbroker as their sponsoring participant. A sponsorship agreement is then signed with the nominated participant, authorising them to deal with the holding subject to certain conditions. Your holding statements would indicate the name of the participating sponsor and will show your personal Holder Identification Number (HIN).

Who is Fletcher Building's share registrar in Australia and how do I contact them?
Fletcher Building's share registrar is:

Computershare Investor Services Ltd.
Level 3, 60 Carrington St
Sydney NSW 2000

GPO Box 7045
Sydney NSW 1115

Phone (within Australia) 1 300 855 080
Phone (outside Australia) +61 3 9615 5970
Fax +61 2 8234 5050
Email: sydney.services@computershare.com.au
Web site: www.computershare.co.nz/investorcentre

How do I obtain a duplicate copy of my shareholder statement?
You may request a duplicate copy of your statement by mailing a written request to Computershare. A fee of $15.00 applies to this service. Please include a cheque or money order payable to "Computershare".

What is a Security Reference Number (SRN) and how do I find out what my SRN is?
Issuer Sponsored holders are allocated a unique identification number - an SRN. It is shown on Issuer Sponsored Statements and must be provided to your broker when buying or selling shares. The unique holder number is quoted on other correspondence and cannot be used to sell your holding.

You can request your SRN by contacting the share registry by letter or fax. You must provide the following information:

  - Full name(s) and address (old and new if changed) of the registered investor(s)
  - Company in which the investments are held
  - Number of shares held
  - Signatures of the registered security holders.

You may also obtain your SRN in person from the share registry upon production of a drivers licence or current passport.

How do I consolidate more than one holding?
For Issuer Sponsored holdings: If the names and addresses recorded for both holdings are identical and the holdings are registered on the same subregister (ie. both are certificated or both are issuer sponsored), please contact Computershare to consolidate duplicate holdings.

If the names of the holdings are not identical, you will need to contact the share registry to confirm the process necessary for amalgamating them under one holder number.

If the consolidation of your holdings involves a CHESS holding, you need to contact your sponsoring broker to arrange consolidation.

Is my Tax File Number (TFN) quoted? How do I quote my Tax File Number or exemption?
To see if your TFN is quoted, check your shareholder details at Computershare. You may quote your Tax File Number or exemption by notifying the share registry in writing, by mail or fax. TFN Notification forms can be downloaded from Computershare You may also quote your Tax File Number or exemption over the telephone if you provide sufficient information to identify the holding.

How can I check my shareholding?
Contact Computershare on +61 (0)2 8234 5000 or Computershare.