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Alumina Ltd (AWC.AX)

AWC.AX on Australia Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Alumina Limited names Mike ferraro as new CEO
Sunday, 21 May 2017 06:58pm EDT 

May 22 (Reuters) - Alumina Ltd ::Mike ferraro,currently a director of Alumina Limited, will succeed Wasow as chief executive officer.Peter Wasow to retire as chief executive officer and managing director of company on 31 May 2017.  Full Article

Alumina and Alcoa Inc announces amendments to AWAC Joint Venture
Thursday, 1 Sep 2016 05:30pm EDT 

Alumina Ltd : Amendments to AWAC joint venture . Both parties have also agreed to settle and terminate litigation related to Alcoa's separation . Parties to terminate litigation relating to Alcoa's pending separation into two independent, publicly traded cos. . Alcoa Inc remains on track to complete its separation in the second half of 2016 . Says changes to the joint venture agreements are intended to align more closely the partners' interests in AWAC, . Says changes will also simplify AWAC's dividend and cash management policies . Changes will require that awac raise a limited amount of debt to fund future mutually agreed growth . Alcoa and Alumina agreed to make certain changes to the Alcoa world Alumina and chemicals joint venture .  Full Article

Alumina posts HY stat NPAT of US$8 mln versus US$122 mln
Tuesday, 23 Aug 2016 06:50pm EDT 

Alumina Ltd : Alumina Limited 2016 half-year result . HY stat npat US$8 million versus US$122 million . Interim dividend of 2.9 US cents per share .  Full Article

Alumina responds to Alcoa's U.S. Securities and Exchange Commission filing
Wednesday, 29 Jun 2016 06:29pm EDT 

Alumina Ltd : Alcoa separation plan confirms Alumina's contention . Remains committed to pursuing its rights under the AWAC arrangements, with court having set trial date of September 20, 2016 . Responds to Alcoa filing with U.S. SEC, in which Alcoa describes the proposed spinoff of its upstream business . Remains firm on its consent and option rights .  Full Article

Alumina files 'Answer And Counterclaim' in US proceedings
Sunday, 26 Jun 2016 08:08pm EDT 

Alumina Ltd : Alumina files 'answer and counterclaim' in US proceedings . Says Alumina refutes all substantive elements of alcoa's claim . Alumina has refuted all substantive elements of alcoa's claim and made its own counterclaim . Alumina will seek to assume rights in respect of the sale of its equity share of Alumina and bauxite produced by awac . Alumina counterclaims that alcoa's planned `separation' would breach awac joint venture agreements and cannot proceed without alumina's consent . Alumina is seeking court declarations to prevent Alcoa taking further steps in its separation without alumina's consent . Says alcoa's reliance on the previous western mining corporation (wmc) demerger as a defence is without merit .  Full Article

Alumina comments on Alcoa's proposed corporate separation
Sunday, 29 May 2016 08:07pm EDT 

Alumina Ltd : Alumina Limited acts to protect shareholders' interests in relation to proposed Alcoa separation . Considered the implications for its shareholders and for the AWAC joint venture of Alcoa inc.'s proposed corporate separation . Alumina has raised these concerns with Alcoa and has proposed amendments to the AWAC joint venture agreements . Alcoa filed application in chancery court in Delaware seeking declarations regarding alumina's rights in context of Alcoa demerger . Considers that Alcoa's demerger proposal triggers consent and 'first offer' rights in favour of Alumina under the AWAC arrangements . Says Alumina will defend the proceedings brought by Alcoa . Has serious concerns that proposal as described by Alcoa will result in a material adverse change in the nature, size, scope and financial wherewithal of co's partner in AWAC .Alumina considers it is entitled to receive various offers, including for the Alcoa interest in AWAC companies.  Full Article

Alumina says AWAC signed bauxite supply contracts
Wednesday, 6 Apr 2016 09:09pm EDT 

Alumina Ltd:Awac signs bauxite supply contracts.Signed bauxite supply contracts from existing mines with customers in China, Europe and Brazil worth more than $350 million over two years.  Full Article