Bulletin Board
General Bulletins
14/08/2009 - Investment Commitee Research Day
Investment Bulletins
[Rio Tinto Ltd] The Boards of Rio Tinto Plc and Rio Tinto Limited announced a fully underwritten Rights Issue to raise gross proceeds of approximately US$15.2billion. The entilement will be comprised of an Offer of 21 New Rio Tinto Limited Shares for every 40 existing shares at $28.29 per share. Advice has been sent to clients»
[Rio Tinto Ltd & BHP Billiton] Rio Tinto Limited and BHP Billiton have announced a 50-50 joint venture with iron ore assets in Western Australia. Details: BHP will pay RIO $5.8bn to take up a 50 per cent stake; The JV is subject to shareholder and regulatory approval; The JV will result in cost savings of at least $10bn; The proposed Chinalco deal has been scrapped; Rio will pay Chinalco a break fee of $195m.
[Asciano Group] The Board of Asciano Group announced that it will undertake an issue of new stapled securities to raise underwritten gross proceeds of a minimum of $2 billion. The proceeds of the new oissue will be applied primarily yo the reduction of debt. The entilement will be comprised of a 1 for 1 Offer at $1.10 per share. Advice has been sent to clients»
[Westpac Bank] Westpac have announced that they will be redeeming the existing St.George SPS, CPS and CPS II and will be conducting a new SPS II Offer in which existing St.George Hybrid holders will have a guaranteed allocation. In order to supplement this guaranteed allocation, Profile was able to bid for an additional allocation on behalf of our clients. Formal advice will be provided in due course. Advice has been sent to clients»
[Sonic Healthcare Ltd] Sonic reported a net profit for the first half of the 2008/09 financial year of $136.5 million - up 20.5 per cent on the prior corresponding period. Revenue from ordinary activities for the six months to December 31, 2008 rose 27.7 per cent to $1.44 billion. Sonic said its guidance for 2009 remained unchanged since August 21, 2008, with revenue growth expected to be greater than 15 per cent, and earnings per share growth above 10 per cent, depending on foreign exchange and interest rate movements, and excluding further acquisitions. The company declared an interim dividend of 22 cents per share, up from 20 cents in the prior corresponding period.
[Commonwealth Bank] On 16 February 2009, Commonwealth Bank [CBA] announced that it would introduce a Share Purchase Plan [SPP]. The offer is extended to existing shareholder and allows them to purchase up to a further $10,000 worth of CBA ordinary shares in incremental parcels. The offer price for the shares is the lower of $26.00 and the average price on the Group's shares over the last 5 trading days of the offer period. The offer closes at 5.00pm on 11 March 2009. Advice has been sent to clients»
[Wesfarmers Limited] Wesfarmers Limited recently announced a non renounceable Entitlement Offer at an offer price of $13.50 per share. The Entitlement Offer will be conducted on a basis of three new Wesfarmers ordinary shares for every existing seven Wesfarmers ordinary shares or Wesfarmers Partially Protected Shares held on Wednesday, 28 January 2009. The Entitlement Offer is comprised of an Institutional component of approximately $1.9billion and an offer to Retail shareholders to participate on the same terms. New shares issued under the Entitlement Offer will not be entitled to the interim dividend for FY2009. Advice has been sent to clients »
[Westpac Bank] The Bank recently announced an offer to existing shareholders to acquire up to a further $10,000 worth of Westpac ordinary shares under a Share Purchase Plan [SPP]. The SPP will provide eligible shareholders with the opportunity to purchase new shares at the lower of $16.00 per share, and the daily volume weighted average price at which Westpac ordinary shares trade on the five trading days up to an including the closing date for the offer. Advice has been sent to clients »
[Commonwealth Bank] The bank will raise $750 million in new capital through a placement with Merrill Lynch International (Australia), and launch a share purchase plan for shareholders. The new shares will be issued before the end of January 2009 and final details will be provided by CBA in its interim results announcement due in February 2009. Details to come »