The Share Price of JAT Energy Climbed Up On ASX After The Announcement Of Appointing Joint Company Secretary

The Share Price of JAT Energy Climbed Up On ASX After The Announcement Of Appointing Joint Company Secretary

JAT Energy Limited (ASX: JAT) is an Australian based consumer discretionary company. It caters the consumer market in China. JAT Energy is focused on selling Australian goods that range from Milk powder, wine, nutraceuticals, cereals, oats, cosmetics, skin/face creams, biscuits, cleaning products, and organic oils.

On 8 January 2019, the company declared via its release that Mr. Justyn Stedwell has been appointed as a joint company secretary of the company with immediate effect. He has over eleven years’ experience as a Company Secretary of ASX listed companies including a wide range of industries. Following this announcement, the share price of the company climbed up 1.316% on 8 January 2019.

The company has recently issued prospectus, for the conditional offer to investors identified by the directors. The offer had a minimum subscription of one thousand shares at an issue price of six cents each to raise $60 before expense of the offer.

The purpose of the offer was not to raise capital; rather the directors wanted to apply the proceeds from the offer to expenses of the offer. As on the date of the offer, the capital structure of the company consisted of 786,869,515 shares.

The company in its latest AGM report has announced to have agreed to co-develop the Cobbitty Country brand and associated products with Shanghai Dragon Corporation to manufacture a wide range of fast-moving consumer goods. This will include milk products, biscuits, other food and beverages, toothpaste, soaps, and other high volume FMCG products.

The company updated about the purchase of controlling stake in Green Forest International PTY Limited. JAT and Green Forest have worked together towards the merger since 2016, and it has opened several advantages to JAT, including an extensive portfolio of Australian and International brands, over two-hundred gift shops, duty-free stores, and Daigou warehouses in Australia. JAT will have more than fifty shops in and pharmacies in Hong Kong.

Sponsored ad by Kalkine

On the financial front, JAT will have improved and stable cash-flows and earnings from the deal. Green Forest shareholders have pumped in two million dollars as working capital matched by another two million dollars from JAT so that they can fund rapid business expansions and avail the merger synergies. In 2018, JAT focussed on developing in-house brands organically and through strategic acquisitions, which demonstrated its success with the last September quarter consolidated revenue of A$10.68 million, with an estimated FY 19 revenue of $65 million approximately.

Now, let us quickly look at the performance of JAT’s stock and the return it has posted over the last few months. The stock of JAT is currently trading at $0.077. The stock opened at $0.076 and posted a day’s high of $0.079, with touching a day’s low of $0.074. The company posted a YTD return of 11.76% and produced a return of 2.70% over the last six months period with a significant return of 90% in the past three months. It has a 52-week high price of $0.290 and a 52-week low price of $0.035.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Facebook Comments

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here