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NLX just released their half year report and I have
sold my parcel - for now.
----- Original Message -----
Sent: Tuesday, February 17, 2004 2:29
PM
Subject: Re: [sharechat] NLX
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 ...
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| 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.
__________ | |
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