3 Stocks With The Change In The Interest Of Its Substantial Shareholdings - AU1, WSI And ASL

To maintain transparency in the market, listed companies generally publish information regarding any changes on voting power given in terms of substantial shareholding. The below mentioned stocks have recently announced changes in the interests with respect to substantial shareholdings:

The Agency Group Australia Limited (ASX: AU1)

Property and financial service provider, The Agency Group Australia Limited (ASX: AU1) has recently announced the changes in the interest in its substantial shareholdings. Primarily, Mr. John Kolenda became a substantial holder of AU1 on January 11, 2019 by holding 17,620,932 Ordinary Shares with 16.97 percent of the voting power.

Of which, 9,633,333 ordinary shares acquired for the cash consideration of $2,890,000 in relation to Company Placement and rest 7,987,599 ordinary shares acquired for the cash consideration of $1,848,000 in relation to debt within Top Level Real Estate Pty Ltd that is converted to shares in the Company as part of the Amended and Restated Option Agreement for the Company to acquire Top Level Real Estate Pty Ltd which was released on 19 September 2018 to the market. Besides this, Mr. Ben Collieris and Mr. Shad Hassen also became a substantial shareholder of the group on January 11, 2019 with 7.80% and 6.48% voting power, respectively.

In the past six months, the share price of the company increased by 3.33 Percent as on 25 January 2019. AU1’s shares last traded at $0.155 with a market capitalization of circa $16.09 million as on 29 January 2019.

Ausdrill Limited (ASX: ASL)

Diversified mining services company, Ausdrill Limited (ASX: ASL) has recently made changes in its substantial holding in Golden Rim Resources Limited (ASX: GMR). Earlier, the company was having 29,305,516 ordinary shares with 9.2% voting power. Currently, the company is holding 49,692,522 ordinary shares which represent 10.6 percent voting power in Golden Rim Resources Limited.

Recently, the company has signed a contract with one of Australia’s largest underground mining contractors, i.e., Barminco mining contractors. Under the contract, Barminco mining contractors will provide underground mining services at the Rosemont Underground operation in Western Australia (WA). Recently Moody’s Investors Services, a credit rating agency, upgraded the Company’s credit ratings to ‘Ba2’ after the acquisition of Barminco Holdings Pty Ltd (Barminco).

In the past six months, the share price of the company decreased by 23.91 percent as on 25 January 2019. ASL’s shares traded at $1.290 (-3.008% intraday) with a market capitalization of circa $910.7 million as on 29 January 2019.

WestStar Industrial Limited (ASX: WSI)

Australia based Industrial conglomerate holding company, WestStar Industrial Limited (ASX: WSI) has recently announced the changes in the interest in its substantial shareholdings. According to the release, Econ (WA) Pty Ltd who is the substantial shareholder of the company changed its substantial holding on 24 January 2019 and now it holds 10.87 per cent of the voting power from 9.70 per cent. Currently, Econ (WA) Pty Ltd holds 48,125,001 ordinary shares in WestStar Industrial Limited. In the December quarter, the company’s engineering contractor subsidiary SIMPEC Pty Ltd was awarded $18 million of contracts which includes an $8 million contract with MSP Engineering at the Tianqi Lithium Kwinana processing plant.

In the past six months, the share price of the company increased by 37.50 percent as on 25 January 2019. WSI’s shares traded at $0.021 (-4.545% intraday) with a market capitalization of circa $10.91 million as on 29 January 2019.


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