GWA Provided Update Related to Proposed Acquisition of Methven: What You Need to Know

GWA

GWA Group Limited (ASX: GWA) happens to be the supplier of the building fixtures as well as fittings. These supplies are made to households as well as commercial premises. Mr. Tim Salt is the Managing Director and CEO (or Chief Executive Officer) of GWA Group Limited while Mr. Darryl McDonough happens to be the Independent Chairman and Non-Executive Director.

GWA Group Limited had come forward and made an announcement with regards to the proposed acquisition of Methven with the help of the press release. In the release dated February 11, 2019, the company (i.e. GWA Group Limited) threw light on the announcement which was made earlier. It stated that GWA Group had made an announcement, on December 14, 2018, that they have entered in the scheme implementation agreement with the Methven Limited which relates to the proposed acquisition by GWA Group. This proposed acquisition by GWA is related to all shares in Methven through the scheme of arrangement in pursuant to applicable laws in NZ. 

The issued release stated that Methven had lodged a copy of its scheme booklet with regards to scheme with the NZX. The scheme booklet happens to relate to a special meeting of the shareholders of Methven which would take place on March 12, 2019. The release also contained information key dates which are related to the scheme. The final court hearing for the approval of the scheme would be on March 27, 2019 and the scheme implementation date happens to be April 10, 2019. The release also added that GWA Group Limited would keep the shareholders informed with regards to the material developments related to the scheme. Also, the company had provided the date on which it would be releasing the half-year results. As per the press release dated February 11, 2019, GWA Group Limited would be out with half-year results ended December 31, 2018 on February 18, 2019.

We would now have a look at how the stock of GWA Group Limited is presently performing and how it had performed in the past few months. At the time of writing, GWA Group Limited’s stock is trading in green as its stock price is witnessing the rise of A$0.030 per share or 0.984%. The company’s stock is presently trading at A$3.080 per share. The market capitalization of GWA Group Limited stood at $805.04 million. Talking about the past performance, the company’s stock had delivered the return of -10.56% in the span of previous 6 months while, in the time frame of previous 3 months, the stock of GWA Group Limited had given the return of 5.90%. However, in the time frame of the previous one month, the company’s stock gave 7.02% return.

As per Australian Securities Exchange (or ASX), the annual dividend yield of GWA Group Limited stood at 5.9%. As per this source, the company is having the price-to-earnings ratio or (P/E ratio) of 14.810x while the earnings per share (or EPS) of GWA Group Limited stood at A$0.206.


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