Asaleo Care: Latest updates

Asaleo Care Limited (ASX: AHY) is into Consumer Staples Limited and is from household and personal products group of industries. AHY creates, markets and dispenses consumer products concerning Female Hygiene, Baby Hygiene and such. It is domiciled in Victoria, Australia.

The company has recently announced that it will release its 2018 Full Year Results for the 12 months ended 31 December 2018, on 20 February 2019. A webcast presentation of the results was provided by Sid Takla (CEO), and Lyndal York (CFO) at 10 am on the same day.

On 11 January 2019, AHY announced the change of interests of its substantial holder Allan Gray Australia Pty Ltd effective 9 January 2019. Before the notice, Allan Gray Australia Pty had 82,421,760 ordinary shares with the voting power of 15.18%. The present notice reflects 87,899,538 shares with the voting power of 16.18%. 

On 6 December 2018, AHY announced $180 million sales of Australian Consumer Tissue business to Solaris Paper Pty Limited. AHY had gained five years of extension of Trade Mark and Technology License Agreement with Essity to 2017 in principle agreement. The sale was expected to improve EBITDA margin and be accretive to Group FY19 EBITDA forecast.

On 16 November 2018, AHY announced that LSV Asset Management had provided an amended Form 605 Notice, ceasing to be a Substantial Holder under Section 671B of the Corporations Act 2001 in respect of Asaleo Care Limited shares.

On 13 November 2018, AHY announced that LSV Asset Management has ceased to be a Substantial Holder under Section 671B of the Corporations Act 2001 in respect of Asaleo Care Limited Shares.

On 23 October 2018, AHY announced that Sid Takla had been appointed as CEO and Managing Director. Making the announcement, Chairman Harry Boon said that the moment Sid took on the CEO role on an interim basis in May 2018, he had been working closely with the Board and Executive Team in leading the Company’s strategic review and making the many key decisions required to position the Company for long-term sustainable growth. He further added that Sid was a high calibre executive with extensive industry knowledge, broad leadership experience, and a strong performance track record over more than a decade with the Company. Sid’s appointment is the result of comprehensive CEO succession planning over several years, and the Board is confident Sid is the right choice to lead the Company. Before the interim CEO role, Sid held the position of Chief Operating Officer overseeing our commercial and manufacturing operations. He also led our B2B and Pacific Islands operations to strong growth over several years.

The Company also announced that Andrew Blew was appointed as Executive General Manager Consumer Sales for the Company’s Tissue and Personal Care businesses in Australia and New Zealand. Andrew joined the Company in November from L’Oréal where he was the Commercial and Business Operations Director. He previously held senior leadership and sales positions with major retail food companies including General Mills, Mars Food and Kraft Foods after commencing his sales career at Unilever.

Lyndal York, the Company’s CFO since 2017, had resigned to pursue another corporate opportunity based in New Zealand. Lyndal is going to be with the Company until after the 2018 Full Year results going to be released in late February 2019.

The shares of the company closed the day’s trading session at A$1.030 (as at 11 February 2019), up by 1.98% or 0.020 points with a market capitalisation of approximately A$548.55 million and 543.12 million shares outstanding. It has a 52-week high price of A$1.530 and low of A$0.620.  The company’s stock has yielded a positive return of 34.67% over the last 6 months.


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