STOCKHOLDERS – AUSTRALIA

Kingsgate activist opts to reduce its holding

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Original article by Peter Ker
The Australian Financial Review – Page: 13 : 24-Jan-18

UK-based Metal Tiger has sold about 5.5 million shares in gold miner Kingsgate Consolidated in the wake of its failed bid for a board spill. The divestment has reduced Metal Tiger’s stake from 8.1 per cent to 5.6 per cent, and CEO Michael McNeilly stresses that the company will continue to be an active investor. Meanwhile, Kingsgate chairman Ross Smyth-Kirk has ruled out boardroom changes in the near-term. The company is pursuing legal action against the Thai Government over its closure of the Chatree mine.

CORPORATES
KINGSGATE CONSOLIDATED LIMITED – ASX KCN, METAL TIGER PLC

Investors set to profit from Aconex sale

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 16 : 20-Dec-17

Aconex founders Leigh Jasper and Rob Phillpot are not the only ones who will do well out of Oracle’s $A1.6 billion bid for the construction software firm. Aconex chairman Adam Lewis and his family should gain around $15.4 million from the transaction, while the Sypkes family, who started the Tasmania-based Chickenfeed discount chain, stand to receive about $A27.2 million. Jasper and Phillpot should get about $A94 million and $A88 million respectively if Aconex shareholders approve Oracle’s bid.

CORPORATES
ACONEX LIMITED – ASX ACX, ORACLE CORPORATION, CHICKENFEED PTY LTD, ATLASSIAN CORPORATION PLC, AUSTRALIAN DISCOUNT RETAIL PTY LTD, SPARK INFRASTRUCTURE GROUP – ASX SKI, McKINSEY AND COMPANY, UNIVERSITY OF MELBOURNE, APIAM ANIMAL HEALTH LIMITED – ASX AHX, MELBOURNE CRICKET CLUB, CITI AUSTRALIA PTY LTD, TEXTURA AUSTRALASIA PTY LTD, SAP AG

Myer profit warning a present for Lew

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Original article by Eli Greenblat
The Australian – Page: 20 : 15-Dec-17

Solomon Lew might be more likely to get support for his push for an extraordinary general meeting of Myer shareholders after the department store chain issued another profit warning on 14 December. Lew is Myer’s largest shareholder through Premier Investments, and he has been attacking the Myer board for some months over what he claims is its flawed business strategy. Myer’s shares fell to a record low after it revealed that sales for the last two weeks were down five per cent.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV, OROTONGROUP LIMITED – ASX ORL, VERTIUM ASSET MANAGEMENT, LIVE CLOTHING, LOVER

Lew’s plans stir Myer investors

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Original article by Sue Mitchell
The Australian Financial Review – Page: 20 : 29-Sep-17

Anton Tagliaferro of Investors Mutual says Myer Holdings’ shareholders are keen to know Solomon Lew’s intentions with regard to the department store group. There is speculation that Lew could nominate himself or a director of Premier Investments for the Myer board at its upcoming annual meeting. Retail industry veteran Terry McCartney has been touted as a potential nominee. He was appointed to the Premier Investments board in April 2016, and he was the MD of Myer Grace Bros from 1996 to 2000.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV, MYER GRACE BROS, COLES MYER LIMITED, JUST GROUP LIMITED, JUST JEANS PTY LTD, SMIGGLE PTY LTD, PETER ALEXANDER SLEEPWEAR PTY LTD, PORTMANS PTY LTD, DOTTI, INVESTORS MUTUAL LIMITED, BHP BILLITON LIMITED – ASX BHP, AURIAS DIAMONDS, ZAO SUAL HOLDINGS, MCCARTNEY RETAIL SERVICES

Elliott holds fire on BHP board

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Original article by James Thomson
The Australian Financial Review – Page: 18 : 25-Aug-17

Elliott Management holds five per cent of BHP Billiton’s London-listed shares, but the activist hedge fund has chosen not to seek representation on the board at the 2017 AGM. Nominations closed in late August, and Elliott has declined to comment on speculation that its decision was linked to Grant King’s recent resignation from BHP’s board. Incoming chairman Ken MacKenzie has met extensively with shareholders, who expressed their dissatisfaction with King’s appointment to the board in early 2017.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ELLIOTT MANAGEMENT CORPORATION, ORIGIN ENERGY LIMITED – ASX ORG, WESFARMERS LIMITED – ASX WES, BP AUSTRALIA LIMITED, BUSINESS COUNCIL OF AUSTRALIA

Activist Elliott targets BHP retail shareholders

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Original article by Leo Shanahan
The Australian – Page: 19 : 19-Jul-17

US-based hedged fund Elliott Management is seeking the support of BHP Billiton’s retail investors for its proposed restructuring strategy for the resources giant. Elliott has also launched a revised website pitched at institutional investors. The activist hedge fund has accused BHP’s management of being responsible for the loss of some $US40bn ($A51bn) of shareholder wealth due to poor decisions. Elliott’s proposed reforms include scrapping BHP’s dual listing structure.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ELLIOTT MANAGEMENT CORPORATION, AUSTRALIA. DEPT OF THE TREASURY

Support for BHP relisting ‘at right price’

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Original article by Matt Chambers
The Australian – Page: 17 & 20 : 20-Jun-17

Aberdeen Asset Management’s Andrew Preston says scrapping BHP Billiton’s dual-listing structure in favour of a single Australian listing may be the best option. He adds that the cost of such a restructuring would be a key consideration, but argues that many of BHP’s non-Australian assets have been divested since the dual listing was established. Preston also notes that the issue of franking credits, which are of no value to investors in BHP’s London-listed shares, would also have to be considered.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ABERDEEN ASSET MANAGEMENT LIMITED, ELLIOTT MANAGEMENT CORPORATION, AMCOR LIMITED – ASX AMC, AMP CAPITAL INVESTORS LIMITED, AUSTRALIA. DEPT OF THE TREASURY

Survey skewers BHP as activists eye ‘major’ board changes

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Original article by Peter Ker, Matthew Stevens
The Australian Financial Review – Page: 15 : 7-Jun-17

A survey carried out by Global Proxy Solicitation has found that nearly 48 per cent of BHP Billiton’s retail shareholders agree that a restructuring of the resources group is needed. In contrast, only 15.33 per cent oppose Elliott Associates’ push for a restructuring. Meanwhile, more than 36 per cent of respondents said BHP CEO Andrew Mackenzie has dealt with the activist hedge fund effectively. Global Proxy Solicitation had identified BHP as a potential target for activist investors in a report that was released in November 2016.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ELLIOTT ASSOCIATES LIMITED PARTNERSHIP, ELLIOTT MANAGEMENT CORPORATION, GLOBAL PROXY SOLICITATION PTY LTD, MORROW SODALI GLOBAL LLC, TRIBECA INVESTMENT PARTNERS PTY LTD, RIO TINTO LIMITED – ASX RIO, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION

Activism may explain ASX’s sprint to 6000

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Original article by Jessica Sier
The Australian Financial Review – Page: 25 : 12-Apr-17

Hasan Tevfik of Credit Suisse says international shareholder activists may increasingly target Australian shares, adding that it is surprising that they have not already done so. He suggests that activist investors may have contributed to the local sharemarket’s recent rally. Shareholder activism has come under scrutiny in the wake of a proposal by US hedge fund Elliott Management for BHP Billiton to undertake a major restructuring.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, BHP BILLITON LIMITED – ASX BHP, ELLIOTT MANAGEMENT CORPORATION, ELLIOTT ASSOCIATES LP, PERPETUAL INVESTMENTS, JP MORGAN ASSET MANAGEMENT INCORPORATED, JANA PARTNERS LLC, AMERICAN WHOLE FOODS

Tinkler says family to quit $40m coal stake

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Original article by Paul Garvey
The Australian – Page: 6 : 18-Nov-16

Nathan Tinkler and members of his family paid about $A6.6m for a 37 per cent stake in Australian Pacific Coal in 2015. Tinkler has advised that his family intends to divest its entire holding, which is now worth some $A40m, due to APC’s long delay in finalising a deal to acquire the Dartbrook coal project in the Hunter Valley. Tinkler has also rejected speculation that APC could be a potential buyer of Anglo American’s Drayton South project if it gains environmental approval.

CORPORATES
AUSTRALIAN PACIFIC COAL LIMITED – ASX AQC, ANGLO AMERICAN PLC, BENTLEY RESOURCES PTE LTD, TREPANG SERVICES, NEW SOUTH WALES. PLANNING ASSESSMENT COMMISSION