Ann: Notice of Extraordinary General Meeting/Proxy Form, page-37

" I'm sure REH will survive but the days of predatory pricing for bathroom 'exclusives' and other plumbing supplies might be over."

In the plumbing trade time is money - most costs are passed on and any small additional margin is accepted in exchange for good and educated advice, guaranteed supply which most often is required immediately and Reece are experts in doing this. The same arguments about Amazon can also be related to the early stages of Bunnings and Masters - do you really see your plumbers walking around those suppliers trying to find a quality part they need rather than just doing it over the counter quickly and confidently at Reece.

The exclusive products you refer to will most likely never be stocked by Amazon being a quality and often exclusive range of international and local brands and styles - will it fit ? -Reece will tell you - very unlikely that Amazon will affect Reece any differently than Bunnings and Masters in the past which equates to very little.

I'm very pleased that Reece has announced the share split for mid December which will give opportunities for more liquidity and varying levels of investors to benefit from the Reece story.
Cheers