Australian Whisky Holdings Limited (ASX: AWY), formerly known as Montec International Limited, is a Sydney-based company engaged in producing single malt whisky primarily in Tasmania, Australia. Its major brand line includes Nant (winner of 2019 China Wine & Spirits Awards), Overeem and Lark (winners of 2018 World Whiskies Awards) and Old Kempton. The company was founded in 2003.
In a recent note of announcement on February 11th, 2019, the company informed that the contract with Whisky Negociants Australia Pty Ltd, under which Mr Chris Malcolm was engaged as company’s Chief Executive Officer, has ceased effective immediately. While the search for a new appointee is on, the Company’s current Chief Financial Officer Mr Brendan Waights will take over as the Acting Chief Operations Officer, supervising daily management with assistance from Mr Demetrius Giouzelis, Head of Brands and Commercial Markets.
Before this, Bill Lark and Stuart Grant were appointed to the Board of Directors of Australian Whisky Holdings on February 1st, 2019. Following which, it was reported that William (Bill) David Blake Lark jointly holds 312,000 ordinary shares with his wife Lynette Theresa Lark, as well as jointly holds 297,620 ordinary shares with his wife through the Lark Family Account. Likewise, Stuart M Grant holds 60,723,576 ordinary shares under the same allowance.
On January 30th, 2019, the company released its consolidated statement of cash flows for the quarter ended December 31st, 2018. As per the report, massive cash outflows were posted at around AUD 1.83 million on account of high payments for product manufacturing and operations, advertising and marketing, staff costs, administration and corporate costs along with interest and other costs of finance paid. The investing activities also incurred outflows at AUD 116,000.
On the flipside, there were cash inflows via financing activities including proceeds from issues of shares at AUD 11.95 million, transaction costs related to issues of stocks, despite outflows from repayment of borrowings at AUD 5.35 million. Overall, the net increase/decrease in cash and cash equivalents was definite at AUD 9.34 million. According to the statement, the estimated cash outflows for the next quarter are approximately AUD 2.8 million excluding revenues and other unanticipated developments.
The company has a market capitalisation of AUD 78.27 million and approximately 1.63 billion outstanding shares. With the close of the trading session on Monday, February 11th, 2019, the AWY stock is trading at a market price of AUD 0.045, down 6.25%, indicating an intra-day loss of AUD 0.003. Around 1.6 million volume of shares were traded.
The stock has a 52-week low of AUD 0.027 and a 52-week high of AUD 0.055. Over the course of last three months, the stock has exhibited a decent performance with a positive yield of 20% despite undergoing constant fluctuations in the previous six months with a return yield of 9.09%. AWY has generated a YTD return of 6.67% to date.
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.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.