REA Group’s New Director Allotted Ordinary Shares And Performance Rights: What You Should Know

  • Jan 10, 2019 AEDT
  • Team Kalkine
REA Group’s New Director Allotted Ordinary Shares And Performance Rights: What You Should Know

REA Group Limited (ASX: REA) had come forward and made an announcement about the allotment of ordinary shares as well as performance rights with the issuance of the press release. The company’s director named Mr. Owen Wilson was appointed on January 7, 2019. As per the press release dated January 10, 2019, Mr. Wilson had been given 12,629 ordinary shares.

However, the issued release also stated that 5,133 performance rights were also allotted, and the performance period happens to end at June 30, 2019 and he was also given 6,063 performance rights the performance period of which would be ending on June 30, 2020. However, the company had also stated that Mr. Owen Wilson would also be having 5,321 performance rights and the performance period on these would be ending on June 30, 2021.

Earlier, the company had published the results for Q1 FY 2019 in which it stated that the company had generated revenues (after the broker commissions) of $221.9 million which states that there has been a YoY growth of 17%. However, there was a YoY rise of 10% in the operating expenses to $88.8 million in the first quarter of FY 2019. As per the release, robust growth in the revenues was witnessed because of Residential business of Australia. However, Hometrack Australia business was also included this time which also helped the revenue growth. Also, the contribution of Smartline business was for the full quarter while in the same period of the previous year the contribution was for only 2 months. Let us now understand what management had said about the first quarter results. The top management of REA Group represented positive views for the results and stated that the results for the first quarter reflect that the consumers as well as customers have been giving favourable response.

The press release which contained information about the Q1 FY 2019 results also stated that the company had achieved the results during the times when the market conditions were unfavourable. As demonstrated by the press release, nationally, there was a decline of 3% with respect to the listings. This also includes the fall of listings in Sydney of 8% and in Melbourne the decline of 1%.

Let us now see how the stock has performed today. On January 10, 2019, REA Group ended the session on the negative note. The stock price of the company closed at A$73.460 per share which implies the fall of A$1.680 per share or 2.236%. The market capitalisation of REA Group stood at $9.9 billion and the stock price is trading towards the lower level. The annual dividend yield of REA Group stood at 1.45%. We would now have a look at the REA Group’s past performance.

Over the time span of previous 6 months, REA Group had delivered the return of -15.86% while in the span of previous 3 months the stock had given -5.54% return. However, in the previous 1 month, the return was 4.56%.


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