Snippets Corners: 9 November 2009 – MIF, FXJ, VRL, EAL
November 8, 2009
MacarthurCook Industrial Property Fund (MIF) reported the sale of its entire stake in MacarthurCook Industrial REIT (MI-REIT), which is an industrial REIT listed on the Singapore Exchange for $6.7 million. MIF said the funds would be applied to the company’s debt and allow the company to focus on the Australian market more.
Fairfax Media Limited (FXJ) announced the resignation of David Evans from the company’s Board of Directors effective from Sunday, 15 November, 2009. The company said the Australian Communications and Media Authority informed Mr Evans that he could not continue to be a director of both Fairfax Media Limited and Village Roadshow Limited (VRL) because Village has a substantial shareholding in Austereo, which owns radio licences in some areas which overlap with radio licences held by Fairfax.
E & A Limited (EAL) said its wholly owned subsidiary ICE Engineering & Construction Pty Ltd has been awarded a $5.2 million contract to supply labour, materials and equipment for the installation of electrical equipment and instrumentation associated with Uranium One’s Honeymoon Project in South Australia. The company said the project would require the provision of on-site services by a number of EAL subsidiaries. EAL said the contract win, in addition to recent contract successes announced to the market, reaffirmed the company’s outlook and supported forecast EAL turnover in excess of $160 million for FY10.
Fairfax Media Limited (FXJ) announced the resignation of David Evans from the company’s Board of Directors effective from Sunday, 15 November, 2009. The company said the Australian Communications and Media Authority informed Mr Evans that he could not continue to be a director of both Fairfax Media Limited and Village Roadshow Limited (VRL) because Village has a substantial shareholding in Austereo, which owns radio licences in some areas which overlap with radio licences held by Fairfax.
E & A Limited (EAL) said its wholly owned subsidiary ICE Engineering & Construction Pty Ltd has been awarded a $5.2 million contract to supply labour, materials and equipment for the installation of electrical equipment and instrumentation associated with Uranium One’s Honeymoon Project in South Australia. The company said the project would require the provision of on-site services by a number of EAL subsidiaries. EAL said the contract win, in addition to recent contract successes announced to the market, reaffirmed the company’s outlook and supported forecast EAL turnover in excess of $160 million for FY10.
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