Key Developments: Whitehaven Coal Ltd (WHITF.PK)
2.10USD
11 Jun 2013
$-0.02 (-0.94%)
$2.12
$2.10
$2.10
$2.10
6,560
1,166
$4.20
$1.91
Latest Key Developments (Source: Significant Developments)
Tinkler Announces Sale Of Shares In Whitehaven Coal Ltd
Whitehaven Coal Ltd announced that Farallon Capital Management L.L.C. (Farallon) has filed a Notice of Change of Interest for Substantial Holder indicating that it has acquired approximately 9.91% of the issued shares in Whitehaven Coal from entities associated with Mr Nathan Tinkler, and has agreed to purchase an additional 1.63% from ASM Equities Fund. As a result of these transactions, Farallon becomes the largest shareholder in Whitehaven Coal. Full Article
Whitehaven Coal Ltd Announces Cost Cutting Initiatives At Rocglen And Tarrawonga Mines
Whitehaven Coal Ltd announced a number of cost cutting initiatives designed to support the ongoing viability of its Tarrawonga and Rocglen open cut mines in north west New South Wales. The decision has been taken as a result of the continued weakness in global coal prices, the unfavourable foreign exchange rate and increasing pressure on operating cash margins, and follows a detailed review of all of the company’s operations. The changes include amended mine plans that deliver reduced stripping ratios at both operations allowing a reduction in total installed mining fleet by two 2500 excavators, one located at Rocglen and one located at Tarrawonga. As a result, haul truck numbers at each site will be reduced by four – a total of eight less trucks across the group. Approximately 30 permanent Whitehaven positions and 10 contractor roles will be made redundant as a result of the decision. The redundancies impact Whitehaven’s mine operations and maintenance staff, as well as contractors. Full Article
Whitehaven Coal Ltd Not To Pay H1 2013 Dividend
Whitehaven Coal Ltd announced that the Directors resolved not to pay an interim dividend for the first half of fiscal 2013. Full Article
Whitehaven Coal Ltd Appoints New Managing Director
Whitehaven Coal Ltd announced that it has appointed Mr. Paul Flynn as Managing Director and Chief Executive Officer of the Company, effective from March 25, 2013. Mr. Flynn will replace Mr. Tony Haggarty, who has led Whitehaven as Managing Director and Chief Executive Officer. Mr. Haggarty will remain as a Non-Executive Director of Whitehaven following his retirement from the Managing Director's role. Full Article
Whitehaven Coal Ltd Enters Into Rail Haulage Contract With Aurizon Operations Limited
Whitehaven Coal Ltd announced that it has entered into a long-term agreement for rail haulage services with Aurizon Operations Limited. The agreement with Aurizon is for the haulage of up to 16 million tonnes per annum of export coal from Whitehaven's mines in the Gunnedah Basin. Full Article
Whitehaven Coal Ltd Completes AUD 1.2 Billion Bank Debt Financing
Whitehaven Coal Ltd announced the financial completion of its AUD 1.2 billion Senior Secured Bank Facility underwritten by Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia, Macquarie Bank Limited and National Australia Bank Limited. The facility has a four year tenor and provides Whitehaven with lines of credit up to AUD 1.2 billion including revolving, term and guarantee facilities. These new facilities will replace the Company’s existing bank facilities and provide funding for general corporate purposes and capital expenditure. Full Article
Whitehaven Coal Ltd Announces AUD 1.2 Billion Bank Debt Financing
Whitehaven Coal Ltd announced that it has accepted an underwritten offer of a AUD 1.2 billion Senior Secured Bank Facility from Australia and New Zealand Banking Group Limited (ANZ). The Facility has a four year tenor and provides Whitehaven with lines of credit up to AUD 1.2 billion including revolving, term and guarantee facilities. These new facilities will replace the Company's existing bank facilities and provide funding for general corporate purposes and capital expenditure. Full Article
National Australia Bank Limited And Its Associated Entities Cease To Be Substantial Shareholders Of Whitehaven Coal Ltd
Whitehaven Coal Ltd announced that National Australia Bank Limited and its associated entities have ceased to be substantial shareholders of the Company on September 7, 2012. Full Article
Whitehaven Coal Ltd Announces Holding Interest Of National Australia Bank Limited And Its Associated Entities
Whitehaven Coal Ltd announced that National Australia Bank Limited and its associated entities have acquired 50,762,081 ordinary shares, representing 5.010% of the voting power in the Company. Full Article
Australia's Tinkler Pulls $5.5 Billion Whitehaven Coal Ltd Bid-Reuters
Reuters reported that Australian electrician-turned-mining magnate Nathan Tinkler has walked away from a $5.5 billion bid to take Whitehaven Coal private, with a source saying the businessman was unable to line up enough funds. The decision knocked Whitehaven's share price down as much as 19% to a three-year low and marked the latest sign of a cooling in Australia's mining boom, dented by slowing growth in China. Full Article
Australia shares close at a 2-week high, Whitehaven jumps
SYDNEY, June 19 - Australian shares rose 1 percent to close at a two-week high on Wednesday, helped by expectations that the U.S. Federal Reserve will not move quickly to scale back its monetary stimulus and as a weaker Australian dollar lifted stocks with large exposure to overseas markets.
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