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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Blackthorn | LSE:BRL | London | Ordinary Share | AU000000BTR5 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.375 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9337D Brierley Investments Limited 21 May 2001 MASNET No. 106 OF 21.05.2001 Announcement No. 108 BRIERLEY INVESTMENTS LIMITED LIFTING OF THE SUSPENSION IN TRADING OF SHARES The Board of Directors of Brierley Investments Limited ("BIL") would like to request a lifting of the suspension in the trading of BIL shares on the Singapore Exchange Ltd with effect from 9.00 a.m on Tuesday, 22 May 2001. Submitted by Jane Teah, Company Secretary on 21/05/2001 to the SGX MASNET No. 105 OF 21.05.2001 Announcement No. 107 BRIERLEY INVESTMENTS LIMITED DISPOSAL OF STAKE IN JAMES HARDIE INDUSTRIES LIMITED FOR A$567 MILLION 21 May 2001, Singapore - The Board of Directors of Brierley Investments Limited ("BIL") wishes to announce that its wholly-owned subsidiary, UB Minerals (Australia) Pty Ltd, has today through JBWere Limited ("JBWere") placed 119,411,850 shares (the "Shares") in James Hardie Industries Limited ("James Hardie") at a price of A$4.75 per share. The Shares constitute 28.7% of the total issued share capital of James Hardie. Following the sale of the Shares, James Hardie will cease to be an associated company of BIL. James Hardie, which is listed on the Australian Stock Exchange, is a global leader in the manufacture of fibre cement building products with major operations in the United States, Australia, New Zealand, Chile and the Philippines. The sale of the Shares will realise significant value for BIL's shareholders and is consistent with BIL's primary objectives as an active investment management company. BIL's book value of the Shares is approximately A$333 million. At the placing price of A$4.75 per share, the total sale proceeds amount to approximately A$567 million, which represents approximately 37.2% of BIL's net tangible assets as at 30 June 2000. The excess of the total sale proceeds over the book value is approximately A$234 million. The sale proceeds will be applied by BIL for general corporate purposes including, but not limited to, repayment of debt and making new investments. At the time of the announcement of its Interim Results on 15 March 2001, BIL announced that it did not expect to make a profit this financial year. In part this was due to the need to equity account extraordinary and abnormal charges taken by James Hardie in its accounts for the year ended 31 March 2001. As a result of the sale of the Shares, it is now anticipated that BIL will report a profit for the financial year ending 30 June 2001. Net profits (after deducting all charges except taxation and excluding extraordinary items) attributable to the James Hardie Shares for the financial year ended 30 June 2000 were A$38.9 million. The sale of the Shares will have a positive impact on earnings per share and net tangible assets per share in the current financial year ending 30 June 2001. Greg Terry, Chief Executive of BIL, commented: "The proceeds of the sale will enable us to strengthen further our balance sheet to allow us to exploit future investment opportunities". None of the Directors or Substantial Shareholders of BIL have any interest, direct or indirect, in the transaction. Enquiries: Brierley Investments Limited Tel: +65-438-0002 Andrew Shepherd (Chief Financial Officer) Email: a.shepherd@bil.com.sg Gavin Anderson & Company Tel: +65-339-9110 Richard Barton Mobile: +65-9627-1056 Email: rbarton@gavinanderson.com.sg Terence Foo Mobile: +65-9878-8787 Email: tfoo@gavinanderson.com.sg Rav Dhaliwal Email: rdhaliwal@gavinanderson.com.sg Submitted by Jane Teah, Company Secretary on 21/05/2001 to the SGX
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