Itâs all happening at Peter Warren Automotive!
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How curious that Corporate Travel Management chief executive
Jamie Pherous has emerged as the 20th-largest shareholder of Peter Warren Automotive, which floated on the Australian Securities Exchange on Tuesday.
Pherous speaks for 171,500 shares worth $497,350 at the $2.90 listing price. By Tuesdayâs closing bell, they were worth $593,390.
Only seven months ago, he declined to contribute a single dollar to Corporate Travelâs $375 million capital raising, which therefore diluted his shareholding from 19.5 per cent to 15.6 per cent of his travel agency. âIâd love to write a cheque but I basically canât afford toâ was his explanation.
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Dalrymple Bay coal exports tumble 18pc
Dalrymple Bay Infrastructure has blamed the COVID-19 pandemic for an 18 per cent drop in annual coal exports through its Queensland terminal as it delivered a maiden net loss of $113 million and said it would consider a share buyback to boost its stock price.
Coal exports from the company’s terminal at Hay Point – mostly metallurgical coal, which is used to make steel – slid to 55 million tonnes in calendar 2020, down from 67 million tonnes a year earlier.
DBI chief executive Anthony Timbrell said the fall in coal exports was attributable to factory shutdowns in some of the company’s biggest markets, including Japan and India, during the pandemic.
The CEO of the newly listed company says there is no structural decline in metallurgical coal and the drop in exports is because of the COVID-19 pandemic.