Key Developments: Namoi Cotton Co Operative Ltd (NMCTF.PK)
0.33USD
15 Mar 2013
$0.14 (+73.68%)
$0.19
$0.33
$0.33
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4,000
66
$0.33
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Latest Key Developments (Source: Significant Developments)
Namoi Cotton Co Operative Ltd Announces No Final Distribution For FY Ended February 28, 2013
Namoi Cotton Co Operative Ltd announced that it will not pay a final distribution (2012: nil) per unit of Namoi Capital Stock for the year ended February 28, 2013. The total distribution for the prior year was nil. Full Article
Namoi Cotton Co Operative Ltd Confirms Establishment of Namoi Cotton Alliance Joint Venture
Namoi Cotton Co Operative Ltd announced that all of the necessary conditions precedent to commence the Namoi Cotton Alliance joint venture have been satisfied. The cotton marketing and commodities packing joint venture with Louis Dreyfus Commodities Group (Joint Venture), has formally commenced operations. Namoi Cotton Alliance also confirmed that the Commonwealth Bank of Australia (CBA) and the Australian and New Zealand Banking Group (ANZ) have formed a banking group to provide finance facilities to the Joint Venture. These facilities include a AUD 150 million lint inventory financing line along with various transactional banking and equipment financing facilities. These facilities complement the USD 100 million margin call financing line to be provided to the Joint Venture by the Louis Dreyfus Commodities Group. Full Article
Namoi Cotton Co Operative Ltd Sells 14.3 Million Shares-Reuters
Reuters reported that Louis Dreyfus Commodities plans to buy a stake of about 13% in Namoi Cotton Co-operative Ltd. As part of an agreement announced late on January 15, 2013, Namoi, will sell 14.3 million shares to Louis Dreyfus worth AU$3.65 million. That is equivalent to 13% of the Company's share capital. Full Article
Namoi Cotton Co Operative Ltd Confirms A Strategic Marketing Alliance With Louis Dreyfus Commodities Group
Namoi Cotton Co Operative Ltd and Louis Dreyfus Commodities Group (Louis Dreyfus Commodities) jointly announced a proposal for the establishment of a cotton marketing and commodities packing services joint venture (Joint Venture) to be called Namoi Cotton Alliance. Under the proposed Joint Venture, Namoi Cotton will hold a 51% controlling interest and Louis Dreyfus Commodities will hold a 49% minority interest. The Joint Venture will hold Namoi Cotton’s cotton marketing and commodities packing assets, for which Namoi Cotton will receive AUD 30.38 million. Namoi Cotton will also raise approximately AUD 3.65 million from the issue of 14,327,384 Namoi Capital Listed Stock to Louis Dreyfus Commodities. Full Article
Namoi Cotton Co-operative Ltd. Not To Pay FY 2012 Final Dividend
Namoi Cotton Co-operative Ltd. announced that it will not pay a final dividend for fiscal year 2012 (2011: nil). Full Article
Namoi Cotton Co-operative Ltd. Not To Pay FY 2011 Final Dividend
Namoi Cotton Co-operative Ltd. announced that no final dividend was declared for fiscal year 2011. Full Article
UPDATE 2-Louis Dreyfus buys stake in Australian cotton co-op
NEW YORK, Jan 15 - Louis Dreyfus Commodities, one of the world's biggest agricultural traders, plans to buy a stake of about 13 percent in Namoi Cotton Co-operative Ltd in a bid to increase its footprint in the lucrative Australian market.
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