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.
ARCHIVE NEWS 2021
Nov. 2021. FBD Holdings interims. Profit, revenue and Net Assets all up.
Nov. 10th. DIVIDENDS RESTORED with a 10c "interim" gross payment.
Press release HERE
I wonder if the arrival of the new directors has loosened the purse strings,
- under pressure from the Co-ops. Hopefully there should be a final dividend
to go with this one. ( albeit I'd expect it to be smaller)
Aug. 31st - 2 new Directors from the Co-operative societies. The
new Directors are John Joe Kelleher of Macroom, Co Cork, and David Rice
of Belgooly, Co Cork, replacing Neil
O’Riordan and Tommy Joe Tuffy.
June 20th. I submitted the following questions to Bryan Barry, for Padraig
to address at the AGM. These were "half" answered, and the answers
given by Padraig are HERE
Questions for the AGM.
1] What interest rate is the Company paying on it's loans ?
2] When are we going to see any changes to the Constitution to make the
shares more attractive to potential new shareholders, and to enable a bigger
number of potential new investors ?
3] What is the Company going to do to arrest the now 8 year long continuous
shareprice decline ?
4] What is the Company's role in the election of, and supervision of, FBD
Trust's CEO and Committee ?
5] At the date of the 2021 AGM the Board has 12 Directors, 6 of whom have
5200 or less shares. With high debt, but 2.87 million Treasury shares on
hand, could the Company pay half each Director's normal €6000+ annual fee,
and the Chairman's €11,000+ fee in shares to help align Director's interests
to those of shareholders ? (this noting that the Board appears to have taken
a fee cut in 2020)
6] Should the FBD Trust, as a holder of almost 7 million shares, circa 13%
of the issued shares, not have an automatic right to have a Board seat,
which could come from the Co-Ops 4 seat allocation ? Every other Company
with a shareholder holding such a high percentage gives them an automatic
Board seat.
7] We made a new €6 million investment this year. What Company or investment
was it in ?
8] Given that a high proportion of our assets are Spanish, what number of
present Board members can speak Spanish ?
9] Given that 40%+ of shareholders are women, has the Company identified
any potential female Board members yet ?
June 7th. As a note to those who have asked - I will NOT be attending the
AGM this year. Last year I did and was prevented by the Chairman from asking
shareholders questions. This year I predict will be the same, - he will
quickly usher through the proceedings and not answer shareholders questions.
NOR will he allow a recording of proceedings, so that absent shareholders
who can't tune in can hear what goes on (or doesn't)
Instead, on the 17th, I will be at our Heritage Hotel in Co. Laois with
my wife Diane, a fellow shareholder, in the middle of an extended stay.
I believe in putting my money where my mouth is. As a shareholder and potential
Board Member, I will be supporting our businesses with my cash, unlike our
present Board, who haven't bought a single share in the Company in the last
2 years.
The question HAS to be asked - do you as shareholders want our Company run
by those who don't really care, as they have a very small stake, or no stake
at all, in it ?
May 30th. Accounts of FBD PLC arrive. The AGM is June 17th. The Group has
made an after-tax profit of €37.23m, and boasts "healthy""cash
balances" of €55.8m.
YET neither the ordinary or preferrence shareholders are getting a dividend
this year. The reason, according to Padraig's statement HERE
- is to preserve cash in an uncertain Covid environment, even though the
pandemic looks to be all but over.
Feb 5th 2021 High
Court rules against FBD in Pubs legal case This may cost FBD Holdings
at least €30m, and may hit the valuation of our shares, although Holdings
has released a statement saying "Today's judgment provides much needed
clarity to all concerned. We understand the significant challenges our Public
House Insurance policyholders currently face. FBD will arrange interim payments
to affected policyholders while awaiting final clarity on quantum. We expect
the cost to be well within the range of considered financial outcomes, with
FBD remaining strongly capitalised,"
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.
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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