Two Companies With Directors Related Updates- AUQ And Z1P

  • Jan 11, 2019 AEDT
  • Team Kalkine
Two Companies With Directors Related Updates- AUQ And Z1P

Alara Resources Limited (ASX: AUQ)

Today (i.e. 11 January 2019) the Australian minerals exploration company, Alara Resources Limited (ASX: AUQ) announced that it has changed the status of Mr. Stephen Gethin and Mr. Avi Sthapak to Non-Executive Directors.

Mr. Stephen Gethin is currently the Alternate Director for Mr. Justin Richard who is the Managing Director (MD) of Alara Resources. And Mr. Avi Sthapak has been the Alternate Director for Mr. Atmavireshwar Sthapak since 9 January 2019.

The company has made these changes to accommodate a compliance issue raised by Australian Stock Exchange (ASX). Based on the legal advice, the company is having a different stand on this matter. However, the company has decided to act as per ASX direction. Further, the company has reserved the right to review its position in future if necessary.

Earlier today, the securities of the company were temporarily paused from trading. As at 30 September 2018, the company had net cash used in operating activities of $437K and cash and cash equivalents of $2.92 million.

During the past one year, the company has yielded a negative return of 7.41% by decreasing from $0.027 on 9 January 2018 to $0.025 on 9 January 2019. Moreover, in the past five days, the scrip has increased by 8.70%. Today (i.e., 8 January 2019), the share price was down by 4% and is traded at $0.024 per share with the day's total traded volume of 4,250. As at 11 January 2019, the company had ~629.02 million shares outstanding with the market cap of circa $15.73 Mn.

Zip Co Limited (ASX: Z1P)

Leading player in the digital retail finance and payments industry, Zip Co Limited (ASX: Z1P) announced changes in its Director’s interest today (11 January 2018). One of the company’s Director Mr. Larry Diamond who had an indirect Interest in the company through Diamond Venture Holdings Pty Ltd has acquired 6,925,535 Ordinary Shares on 7 January 2019. Now Mr. Larry Diamond is holding 60,940,854 Ordinary Shares of the company through its Diamond Venture Holdings Pty Ltd. Further Mr. Larry Diamond and Mrs. Ashlyn Diamond are together holding 501,944 Ordinary Shares of the company.

Another Mr. Peter Gray who was holding the company’s 17,006,105 Ordinary Shares and 2,285,775 Performance Shares has acquired 2,285,775 Ordinary Shares on 7 January 2019. And now he is holding 19,291,880 Ordinary Shares of Zip Co Limited.

In FY 2018, the company earned a revenue of $40.4 million which was 138 percent higher than the previous year. The total transaction volume of the company increased by 135% to $542.9m in FY 2018 as compared to FY 2017. The total consumers of the company increased by 145% to 738.1k in FY 2018 as compared to FY 2017. Today, the company’s share price increased by 1.422 percent.

Meanwhile, in the last six months the share price of the company increased by 15.30 percent as on 10 January 2019. Z1P’s shares traded at $1.070 with a market capitalization of circa $332.36 million as on 11 January 2019 (AEST 4:00 Pm)


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