| ACR | Acrux confirmed that Eli Lilly reported Axiron net sales of $37.1 million in its financial results for the quarter ended 31 March 2013. Net sales reported by Lilly for the previous quarter to 31 December 2012 were $23.9 million. | Company report |
| AHE | Automotive Holdings has taken another significant step in its expansion in Victoria with agreement to acquire two Toyota dealerships in Melbourne’s northern suburbs, adding to its recent acquisitions of Coffey Ford and the Bayside and Peninsula Groups on the Mornington Peninsula. The Toyota dealerships are Gary McMillan Toyota at Preston and South Morang Toyota, purchased for a total consideration of approximately $20 million, subject to final asset valuation. The dealerships deliver revenue of approximately $100 million per annum. AHG managing director Bronte Howson said the McMillan dealership acquisitions were strategic from both a branding and geographic perspective and were expected to be immediately earnings accretive. “We’re excited about the opportunity to increase our footprint in Victoria,” said Mr Howson. | Company report |
| BHP | BHP Billiton has priced a Euro bond under its Euro Medium Term Note Programme. The Euro bond issue comprises EUR750 million 3.125% bonds due 2033. The proceeds will be used for the refinancing of current debt maturities. | Company report |
| DXS | DEXUS and DWPF have entered into an agreement to acquire equal 50% interests in 480 Queen Street, Brisbane, comprising a premium-grade office building to be developed by Grocon. The total consideration payable is expected to be approximately $543.9 million1 representing a capitalisation rate2 of 7.25%, with final consideration and capitalisation rate dependent on the achievement of leasing prior to project completion. The unlevered 10-year internal rate of return (IRR) following completion is expected to be 10.3%. | Company report |
| EVR | Construction of EVR’s Agbaou Gold Mine in Côte d’Ivoire continues on-schedule and on-budget toward initial production in Q1 2014. To date, approximately 68% of the US$160 million construction budget has been committed, with US$59 million spent and the project is approximately 57% physically complete overall. At current gold prices, mine cash flows and balance sheet resources, including cash and bullion of approximately $130 million as of March 31, are sufficient to complete construction as planned. | Company report |
| GNC | GrainCorp advises that it has entered into a takeover bid implementation deed with ADM under which ADM, subject to the satisfactory completion of limited confirmatory due diligence, will make an off-market takeover offer to acquire all the outstanding shares in GrainCorp not already held by ADM. If the ADM Offer proceeds, and is successfully completed, shareholders will receive $13.20 per share, comprising a cash payment of $12.20 per share under the ADM Offer and dividends totalling $1.00 per share. The dividends are expected to be fully franked, providing up to an additional $0.43 per share for those shareholders who can capture the full benefit from franking on the GrainCorp dividends. | Company report |
| IAU | Quantum Pacific and others seeking the removal of 5 of the 7 directors of Intrepid Mines and the appointment of 4 directors nominated by Quantum Pacific and its associates | Company report |
| QBE | QBE announced the successful private placement of US$600 million of senior debt securities with institutional investors. 5 year maturity; fixed rate of 2.4% per annum; | Company report |
| RFG | Retail Food Group announced the purchase of two South East Queensland properties for $4.32m as part of its focus on strengthening and facilitating future business growth. The purchase of the first of these properties, which is situated in Ashmore approximately 1.5km from RFG’s national office, has now been completed affording the Company much needed scope to accommodate future acquisitive growth and the repositioning of personnel and Brand System support functions following recent relocation of Pizza Capers and Crust staff to RFG’s national office. | Company report |
| RMD | ResMed announced record revenue and income for the quarter ended March 31, 2013. Revenue for the quarter ended March 31, 2013 was $383.6 million, a 10% increase (also a 10% increase on a constant currency basis) over the quarter ended March 31, 2012. For the quarter ended March 31, 2013, net income was $84.9 million, an increase of 31% compared to the quarter ended March 31, 2012. Diluted earnings per share for the quarter ended March 31, 2013 were $0.58, an increase of 32% compared to the quarter ended March 31, 2012. | Company report |
| WOR | WorleyParsons is pleased to announce that BP Remediation Management (BP) has awarded two significant framework agreements to WorleyParsons for the provision of consulting services across BP’s operating business lines outside of North America. The work will be primarily associated with supporting BP projects over a 3 year term across upstream, refining and marketing, alternative energy, shipping, and remediation management businesses. | Company report |
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