|
Following is a list of Nylex Directors:
Mr Richard Nitto (Chairman)
Mr
Glen Casey (Managing Director, CEO)
Mr Phillip Gibbs (CFO)
Mr K M
Stokes, AO (Alternate Director)
Mr Charles Rosedale (External
Advisor)
Mr Ken H Parker (Non Exec. Director)
Mr Neil Christensen
(General Counsel)
Mr Ray King (Non Exec. Director)
Mr Terry Francis (Non
Exec. Director)
Mr Brian O'Donnell (Non Exec. Director)
----- Original Message -----
Sent: Tuesday, February 17, 2004 11:15
AM
Subject: [sharechat] NLX
Morning all,
I think the market is anticipating good news in
the near future based on their 28 Nov presentation - notes below, and more
recent announcements.
All retained businesses are going
strong.
Could be they have now secured a banking
partner.
With what I've seen I"d keep a very close eye on
it!!!
Regards,
Cris
_________
28 Nov Presentation: Highlights
as at end July 2003:
sales up 6%
EBITDA up 8%
EBIT up 40%
plus ...
1) Automotive: Recent restructure & improved
focus has led to $90m in new contracts
2) AH Plant Hire Division: restructured - growth
expected next 2-3 yrs
3) Nylex: good growth in export sales to
China
_____________
PLUS this later announcement ...
|
| Pryda Reid & Further
Divestments |
 |
29 December 2003
N Y L E
X L I M I T E D A N N O U N C E M E N
T
NYLEX LTD TAKES ANOTHER MAJOR STEP IN RE-STRUCTURING PROGRAM
WITH $96.1 MILLION OF NEW DIVESTMENTS
The directors of
Nylex Limited today announced another major step in the company’s
successful restructuring program, with divestments of non-core
operations and properties totalling $96.1 million
including:-
• its Pryda and Reid building products
businesses in Australia, New Zealand and Asia to the Illinois Tool
Works Inc Group for A$79.5 million.
• the Henderson’s USA
and Australian lumbar operations to the Teleflex Inc group for
A$11.2 million.
• $5.5m million worth of properties surplus
to businesses which have previously been sold.
Today’s
moves take the number of non-core businesses divested since June,
2003 to 13, in the process returning to Nylex Ltd gross proceeds
of $151.7 million and surpassing the group’s previously stated
expectation that it would reduce debt by $80 million through asset
sales by the end of 2003.
Nylex's Managing Director and
Chief Executive, Mr Glen Casey, said “We are confident that we are
well on the way to reducing our debt levels to around $130
million, following the expected completion of our asset divestment
program in the first part of the New Year.
"With the most
recent divestments, as well as the successful completion of a $100
million capital raising program last month, Nylex is now in the
best financial position it has been in for several
years.
“The Pryda Reid sale will place us in a very strong
position to finalize early in the New Year currently advanced
negotiations with a new banking group to restructure the group’s
funding arrangements. This will then complete the transformation
of the group’s financial structure and consolidate a platform for
growth in our core divisions”, he added.
Mr Casey concluded
“going forward we will have a core of four divisions - Automotive,
AH Plant, Nylex Consumer and Nylex Industrial Products. Together
these are expected to generate annual revenues of more than $750
million. As most of the group is performing better than last year,
we are confident of reporting improved results for the full year”.
_________
Director: Kerry Stokes (a very
wealthy man) purchased shares through share purchase plan (40K @
25c), PLUS purchased 14,271,571 @ 34.96c ea on market. That
means he spent close to $5M of his own money to buy more
on-market.
__________ | |
|
See IRG research reports
