Snippets Corner: 10 March 2010 – MAH, CHC, ORI
March 9, 2010
Macmahon Holdings Limited (MAH) requested its shares be placed in trading halt this morning. The engineering contractor said the reason for the request was that it is in final negotiations in respect of a contract. Macmahon requested the trading halt to remain in place until the earlier of the opening of trading this Friday, or when an announcement regarding the contract is released.
Charter Hall Group (CHC) said it raised approximately $50 million from the retail component of its equity raising. The group said $31 million was raised from retail investor participation and $19 million by the Gandel Group as sub-underwriters of the retail entitlement offer. Charter Hall said this was in addition to the institutional component, which raised approximately $171 million. The group said the shortfall in the number of securities applied for by retail securityholders was about 28.5 million shares, which would be issued to Gandel along with 31,865 shares in respect of ineligible foreign retail securityholders. Charter Hall said Gandel’s interest in the group is now 16.1%.
Orica Limited (ORI) said the Federal Court’s decision to uphold an amended assessment by the Australian Taxation Office is estimated to have a negative impact on the company of approximately $192 million. The explosives maker said as 50% of the amount owing on the amended assessment was previously paid, a further cash payment of approximately $126 million may be required by Orica with an after tax effect of approximately $92 million. Orica said has 21 days to appeal the decision.
Charter Hall Group (CHC) said it raised approximately $50 million from the retail component of its equity raising. The group said $31 million was raised from retail investor participation and $19 million by the Gandel Group as sub-underwriters of the retail entitlement offer. Charter Hall said this was in addition to the institutional component, which raised approximately $171 million. The group said the shortfall in the number of securities applied for by retail securityholders was about 28.5 million shares, which would be issued to Gandel along with 31,865 shares in respect of ineligible foreign retail securityholders. Charter Hall said Gandel’s interest in the group is now 16.1%.
Orica Limited (ORI) said the Federal Court’s decision to uphold an amended assessment by the Australian Taxation Office is estimated to have a negative impact on the company of approximately $192 million. The explosives maker said as 50% of the amount owing on the amended assessment was previously paid, a further cash payment of approximately $126 million may be required by Orica with an after tax effect of approximately $92 million. Orica said has 21 days to appeal the decision.
Leave a Reply