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Speaker 1: Right. Well, we have a case of sky City versus Fletchers.

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Speaker 1: Now sky City is suing Fletcher for delays in building

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Speaker 1: the Auckland Central Convention Center. They want three hundred and

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Speaker 1: thirty million dollars in damage. Oliver Amander is the CEO

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Speaker 1: of the New Zealand Shareholders Association.

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Speaker 2: Hey, Oliver, good afternoon, Heather.

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Speaker 3: Is three hundred and thirty million dollars realistic?

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Speaker 2: Look, I think that's really for the lawyers to decide.

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Speaker 2: Fletcher Building has been very clear in saying it has

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Speaker 2: already paid significantdated damages as a result of the delays,

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Speaker 2: and so really it's not for me. It's not my

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Speaker 2: place to actually judge that and say that. Ultimately it's

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Speaker 2: the lawyers that'll be the winner on the day for

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Speaker 2: this case.

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Speaker 3: I imagine it's going to have a dampener on the

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Speaker 3: share price for as long as this drags on, won't it.

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Speaker 2: I think it's another sort of nail in the coffin

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Speaker 2: of the longest of issues associated with the ICC and

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Speaker 2: Fletcher Building. It's interesting to see the share price reaction

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Speaker 2: to The share price is down very slightly, but sort

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Speaker 2: of not as significantly as it may have been in

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Speaker 2: the past, why not think, Well, that's I think Fletcher Building.

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Speaker 2: Their share price has stabilized the last year or so,

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Speaker 2: sectually relatory stable since since the middle of twenty twenty four,

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Speaker 2: So that does there ness to be for causeus optimism

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Speaker 2: surrounding the company and its future. So look whether this

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Speaker 2: that the reaction today or the more muted reaction today

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Speaker 2: may mean that the investors might be skeptical about the

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Speaker 2: outcome of the case or really there's just not enough

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Speaker 2: information with its judge in terms of the likelihood of

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Speaker 2: the amount that Fletchers will pay or will be directed

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Speaker 2: to pay as a result of any judgment.

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Speaker 3: It's an unbelievable run that this company's had, isn't it.

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Speaker 2: What's that? Sorry hit?

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Speaker 3: Unbelievable run that Fletcher Building has.

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Speaker 2: Had, it is, and what it really reflects is that

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Speaker 2: it really highlights the long term impact of strategic and

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Speaker 2: governance decisions that are they take a decade to come

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Speaker 2: out of the wood work, and that's what we see

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Speaker 2: here Fletchers. But you know, as I said, that the

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Speaker 2: share price does appear to have stabilized over the last years,

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Speaker 2: So that tells you that institutions and individual investors they

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Speaker 2: may there may be some cautious optimism developing in terms

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Speaker 2: of Let's future, which is good news for sky City.

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Speaker 2: I think the main issue that investors want to see

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Speaker 2: there is simply that they that whatever action they're taking here,

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Speaker 2: that it isn't a distraction from improving their risk profile.

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Speaker 2: They've done a lot of work on their risk processes,

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Speaker 2: risk management, how they how they manage their compliance with

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Speaker 2: the regulatory regulatory authorities both here in New Zealand and

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Speaker 2: in Australia since the issues that they hadn't adelaide in particular.

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Speaker 2: So look, I think anything, I think investors will be

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Speaker 2: wanting the assurance there's no distraction from that ongoing process

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Speaker 2: and improvement. And actually the if you look at the

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Speaker 2: sky City returns in the last five years, I mean

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Speaker 2: that share price has been on a one way ticket

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Speaker 2: down down South where else that does a disservice of

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Speaker 2: the people of South Island.

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Speaker 3: I'm very sorry, fair enough, I appreciate that, Oliver.

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Speaker 1: Thanks very much, Oliver Amanda, the chief executive officer at

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Speaker 1: the Shareholders Association.

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