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Shell deal may hurt Woodside growth plans

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Original article by Paul Garvey
The Australian – Page: 20 : 6/19/2014

The stock of Australian-listed energy group Woodside Petroleum on 18 June 2014 closed $A1.95 lower at $A40.90. This compares with a price of $A41.35 for the institutional investors acquiring scrip in the partial divestment of its Woodside stake by Royal Dutch Shell. As part of the reduction from 23.1% to less than 4.5%, Shell is also selling $US2.68bn ($A2.86bn) worth of stock back to Woodside. Experts warn this may hamper the latter’s acquisitions strategy. Woodside needs to secure a major new project to fill a gap once current LNG developments mature

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, BHP BILLITON LIMITED – ASX BHP, DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD

Disclosure breaches cost Newcrest $1.2m

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Original article by Barry FitzGerald
The Australian – Page: 19-20 : 6/19/2014

Gold mining sector leader Newcrest Mining has admitted it engaged in the selective briefing of analysts in 2013. The penalty agreed on in a compromise with the Australian Securities & Investments Commission (ASIC) and still to be ratified by the Federal Court is $A1.2m, an all-time high for such a continuous disclosure rules breach. Newcrest also faces the threat of a class action law suit launched on behalf of affected investors by Slater & Gordon. The mining group had staged its own investigation of the breach, with Prime Minister’s Business Advisory Council chair Maurice Newman clearing it. However he did not have the same powers as ASIC

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, SLATER AND GORDON LIMITED – ASX SGH, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. PRIME MINISTER’S BUSINESS ADVISORY COUNCIL, FEDERAL COURT OF AUSTRALIA, ASX LIMITED – ASX ASX, CITIBANK PTY LTD, RBC CAPITAL (AUSTRALIA) LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Shell out: Woodside’s new era

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Original article by Andrew Burrell
The Australian – Page: 21 and 25 : 18-Jun-14

Royal Dutch Shell will receive $US2.68bn ($A2.86bn) from Australian-listed Woodside Petroleum, for 9.5% of the latter’s stock at a price per share of $A36.49. Shell will also divest a tranche of the same size at $A41.35 to institutional investors, and reduce its holding in Woodside to no more than 4.5%. The Australian Taxation Office has given Woodside permission to use franking credits in order to lower the price by 14%. CEO Peter Coleman notes the more efficient capital structure being created by the stock repurchasing move, and says it will have no adverse impact on exploration or acquisitions

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, AUSTRALIAN TAXATION OFFICE, GOLDMAN SACHS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, MORNINGSTAR PTY LTD, PLATO INVESTMENT MANAGEMENT LIMITED, PATERSONS SECURITIES LIMITED

Atlassian co-founder cools down IPO hype

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Original article by Paul Smith
The Australian Financial Review – Page: 17 : 18-Jun-14

Australian software developer Atlassian was valued at $US3.3bn ($A3.5bn) in April 2014. Co-founder Mike Cannon-Brookes has downplayed ongoing speculation about a sharemarket float, saying an IPO may occur when the time is right. He adds that he and co-founder Scott Farquhar may choose not to pursue an IPO at all. Cannon-Brookes has defended the decision to relocate Atlassian’s headquarters to the UK, saying this would make it easier to seek a US listing than if it remained in Australia

CORPORATES
ATLASSIAN SOFTWARE SYSTEMS PTY LTD, T ROWE PRICE GROUP INCORPORATED, DRAGONEER INVESTMENT GROUP LLC, ASX LIMITED – ASX ASX

Westfield shares rise on merger hopes

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Original article by Robert Harley
The Australian Financial Review – Page: 35 : 18-Jun-14

Westfield Retail Trust shareholders will vote on the proposed restructuring of the Westfield group of companies on 20 June 2014. Several major shareholders are expected to vote in favour of the deal, which is likely to ensure that it proceeds. However, Stephen Mayne of the Australian Shareholders’ Association forecasts that the deal will not be approved. Westfield Retail shares closed $A0.06 higher at $A3.21 on 17 June, while Westfield Group was up $A0.28 at $A10.89

CORPORATES
WESTFIELD GROUP – ASX WDC, WESTFIELD RETAIL TRUST – ASX WRT, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

Iron ore price jitters, jobs data drag on ASX

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Original article by Sally Rose
The Australian Financial Review – Page: 22 : 13-Jun-14

The Australian sharemarket lost ground on 12 June 2014, with the S&P/ASX 200 shedding 0.5 per cent to close at 5,428.8. The Commonwealth Bank was down 0.4 per cent at $A81.88, while BHP Billiton was 0.6 per cent lower at $A35.71. However, Leighton Holdings was 1.7 per cent higher at $A20.15 and Ramsay Health Care advanced 3.7 per cent to finish at $A46.80

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BHP BILLITON LIMITED – ASX BHP, LEIGHTON HOLDINGS LIMITED – ASX LEI, RAMSAY HEALTH CARE LIMITED – ASX RHC, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WOOLWORTHS LIMITED – ASX WOW, WESFARMERS LIMITED – ASX WES, TELSTRA CORPORATION LIMITED – ASX TLS, GOODMAN GROUP – ASX GMG, ARRIUM LIMITED – ASX ARI, MOUNT GIBSON IRON LIMITED – ASX MGX, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, CREDIT SUISSE (AUSTRALIA) LIMITED, ZURICH FINANCIAL SERVICES AUSTRALIA LIMITED, JOHN HOLLAND PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, WORLD BANK, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX