A look at Five Industrials Sector stocks and unveiling of Annual General Meeting Results

  • Nov 28, 2019 AEDT
  • Team Kalkine
A look at Five Industrials Sector stocks and unveiling of Annual General Meeting Results

Industrials Sector

Mining, manufacturing, and utilities are the major components of the industrials sector. Industrial development needs to occur in an ecologically sustainable way. Many policy tools concentrating exclusively on the demand for manufacturers can aid an inclusive and sustainable industrialisation procedure. The industrial growth is usually seen from the supply side but demand also plays a major role in the development of the industrials sector. The industrials sector will grow only when there is a sufficient demand in the market. The income level and consumer spending pattern are two main factors that drives demand for industrial products.

Annual General Meeting

Annual General Meeting is the yearly meeting of the members and shareholders of the firm, company and organisation. During the Annual General Meeting, the company proposes several resolutions such as audited accounts, remuneration report, election and re-election of directors. In order to pass a resolution at an AGM, the members of a company will have to vote on the resolution either against or in favour of it. There cannot be a gap of more than 15 months between the two consecutive AGMs. If a company is organising an AGM for the first time, then it is not allowed to take an extension for the meeting.

We will be discussing the results of Annual General Meeting and the recent updates of five companies which are categorised under the industrials sector.

Emeco Holdings Limited (ASX: EHL)

Emeco Holdings Limited operates in all the mining regions of Australia. The company’s customer includes mining companies and contractors across gold, copper, iron ore etc. The company also owns an equipment rental company, Matilda Equipment and has close to 1000 machine in its rental fleet.

Favourable amendments to EHL’s 2022 notes

On 28 November 2019, EHL notified the market that it has obtained the required approval of the holders of its 9.250 percent senior secured notes due 2022 or Notes to certain amendments to the terms of the Notes.

EHL’s Investor Conference Presentation

On 27 November 2019, EHL released a presentation on Investor Conference wherein it mentioned the recap of FY19 period, FY19 – investing in growth while deleveraging (EHL generated $90 million in free cash flow in FY19 period before growth capex). It also stated FY20’s outlook, which is on track for further growth. EHL further mentioned that it had a solid start for FY20 period, wherein 1H20 operating EBITDA guidance was of $118 million – 120 million, growing up by 15 percent to 17 percent on 1H19 period. EHL is also looking for growth opportunities, to attain solid future growth in Australia via numerous initiatives.

Change in Director’s Interest

On 25 November 2019, the company announced the change in one of its directors - Ian Testrow interest’s with effect from 14 November 2019. The director acquired 13,646 rights issued pursuant the terms of Emeco Holdings LImited Employee Incentive Plan Rules. The number of shares held by the director after the change were 14,692,476 performance shares; 15,985 fully paid ordinary shares held by Jodie Testrow; 1,500,000 fully paid ordinary shares held by Pacific Custodian Ltd in the Company’s managed plan; 13,646 performance rights held by Pacific Custodians Ltd as a trustee of Emeco Employee Share Ownership Trust.

Results of Annual General Meeting

On 14 November 2019, the company declared the results of the Annual General Meeting. Below are the resolutions which were passed during the AGM:

  • Resolution 1 - Re-Election of Mr Peter Frank
  • Resolution 2 - Approval of the issue of rights under The Emeco Hybrid Incentive Plan to Mr Ian Testrow
  • Resolution 3 - Adoption of The Remuneration Report
  • Resolution 4 - Conditional Spill Resolution

To know about the company’s FY 2019 financial performance, click here

Stock Performance

On 28 November 2019, the EHL stock settled the day’s trading session at $2.040, moving down by 1.449 percent from the previous close.

AMA Group Limited (ASX: AMA)

AMA Group Limited, is a leader in the automotive aftercare and accessories market. The company focusses on the accessories sector and wholesale vehicle aftercare.

Appointment of Company Secretary

On 25 November 2019, the company announced that Fiona van Wyk was hired as Company Secretary of AMA. Ms Terri-Anne Bakos has resigned and stepped down as Company Secretary. The company’s Chairman expressed the Board’s gratitude to Ms. Bakos for her significant contribution towards AMA.

Results of Annual General Meeting

On 20 November 2019, the company has declared the results of the Annual General Meeting. Below are the resolutions which were passed during the AGM:

  • Resolution 1 - Adoption of The Remuneration Report
  • Resolution 2 - Re-election of Director - Mr Anthony Day
  • Resolution 3 - Re-election of Director - Mr Simon Moore
  • Resolution 4 - Re-election of Director - Mr Ray Smith-Roberts
  • Resolution 5 - Re-election of Director - Mr Leath Nicholson
  • Resolution 6 - Ratify issue of shares to BMB Prestige Group
  • Resolution 7 - Ratify issue of shares to MICRA
  • Resolution 8 - Ratify issue of shares to Craig Hall Bodyworks
  • Resolution 9 - Change of Auditors
  • Resolution 10 - Issue of Performance Rights to a Director
  • Resolution 11 - Increase in non-executive remuneration pool
  • Resolution 12 - Ratify issue of shares to institutional investors
  • Resolution 13 - Selective buy-back
  • Resolution 14 (A) - Financial Assistance - Capital Smart Holdings
  • Resolution 14 (B) - Financial Assistance from SMA Group Entities
  • Resolution 14 (C) - Financial assistance from ACM Parts Pty Ltd

Stock Performance

On 28 November 2019, the stock last traded at $1.245, rising up by 4.622 per cent from the previous close.

SG Fleet Group Limited (ASX: SGF)

SG Fleet Group Limited is a specialist provider of fleet management services. The company provides motor vehicle fleet management, vehicle finance and salary packaging services. SGF provides its services in Australia, New Zealand and UK. SG Fleet has more than 130,000 vehicles under management and ~700 staff.

Change In company Secretary

On 26 November 2019, the company announced that Edelvine Rigato has resigned as Company Secretary. Tawanda Mutengwa has been appointed as the new Company Secretary and will commence on 10 December 2019. Meanwhile, Group Chief Financial Officer, Kevin Wundram will be acting as a Company Secretary, and the person responsible for communication with ASX in relation to Listing Rule matters (during the interim period).

SG Fleet buys a strategic Stake in Collaborate Corporate Limited

On 14 November 2019, the company declared that it has bought a strategic stake in Collaborate Corporation Limited (ASX: CL8) in the form of an equity placement at an average price of $0.014 per share, for a combined value of $2.2 million. The investment will help the company in further expansion of mobility solutions and revenue streams.

The company’s CEO, Robbie Blau, commented:

Results of Annual General Meeting

On 18 October 2019, the company declared the results of the Annual General Meeting. Below are the resolutions which were passed during the AGM:

  • Resolution 1 - Adoption of the Remuneration Report
  • Resolution 2 - Re-election of Mr Andrew Reitzer
  • Resolution 3 - Re-election of Mr Peter Mountford
  • Resolution 4 - Re-election of Ms Cheryl Bart AO
  • Resolution 5 - Renewal of proportional takeover approval provisions

Stock Performance

On 28 November 2019, the stock last traded at $2.670, rising up by 0.755 per cent from the previous close.

Electro Optic Systems Holdings Limited (ASX: EOS)

Electro Optic-Systems Holdings Limited, founded in 1983, is a leading technology company that operates in defence sector and space market. The company’s products include electro-optic applications based on EOS core technologies in gimbals, telescopes etc.

Electro-Optic completes its fully underwritten $68m institutional placement

On 22 November 2019, the company announced the completion of its fully underwritten $68 million institutional placement of new fully paid ordinary shares at an offer price of $6.66 per New Share. The placement was undertaken to support EBIT guidance and to meet the working capital requisites of the company. Citigroup Global Markets Australia Pty Limited acted as a sole lead manager, underwriter and bookrunner to the placement.

The company’s CEO, Dr Ben Greene commented:

To know about the company’s FY2020 guidance click here

Stock Performance

On 28 November 2019, the stock last traded at $6.880, rising by 0.438 per cent from the previous close.

PPK Group Limited (ASX: PPK)

PPK Group Limited is an Australia based mining services provider. The company designs, manufactures and services the distribution COALTRAM and other underground diesel vehicles, electrical equipment, drilling and bolting equipment etc.

Results of Annual General Meeting

On 26 November 2019, the company declared the results of the Annual General Meeting. Below are the resolutions which were passed during the AGM:

  • Resolution 1 - Remuneration Report
  • Resolution 2 - Re-elect Mr Robin Levison as a Director
  • Resolution 3 - Ratification of Placement of Shares
  • Resolution 4 - Approval for extra 10% Placement Capacity
  • Resolution 5 - Appointment of Auditor
  • Resolution 6 - Increase in Aggregate Non-executive Directors fees
  • Resolution 7 - Replacement of Constitution
  • Resolution 8 - Grant of Performance Rights under Plan-Mcdonald

To know about Strategic Investment in Craig International Ballistic click here

Stock Performance

On 28 November 2019, the stock last traded at $6.47, up by 1.73 per cent from the previous close.


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