Villa World Announces Change In Director’s Ordinary Shares Holding

  • Jan 07, 2019 AEDT
  • Team Kalkine
Villa World Announces Change In Director’s Ordinary Shares Holding

Villa World Ltd (ASX: VLW) is a real estate development company based out in Australia. The company is catering to regions like Queensland, New South Wales, and Victoria. The company is engaged in developing and building quality and affordable homes for the Australian families through its bricks and mortar business model.

Today, the company reported the change in the number of shares held by David Ian Rennick, Non-executive independent director. The company reported a change in the direct ownership by David.

He is currently holding 48,737 ordinary shares indirectly and 5,418 ordinary shares directly after the change in the number of securities. On 28 December 2018, he acquired 183 ordinary shares (direct ownership) through the allocation of shares as a Salary Sacrifice Arrangement under the Villa World Limited Employee Equity Plan for which he paid $416.67. There was no change in the indirect holding of David.

David is a Non-executive independent director since 1 September 2014. He has an experience of about 30 years in the project like planned community, property development, corporate real estate, etc. He has worked as a principal legal advisor and on property and business strategy for leading developers and institutions. He is a senior Melbourne based lawyer as well as a Partner and Head of Australia, for international law firm Pinsent Masons. Before this, he was working with a national law firm, Maddocks. In the past three years, David has served as a Non-Executive Director of The Hester Hornbrook Academy, a school of the Melbourne City Mission (since 31 August 2016). Academically he is a Bachelor of Economics (BEc) as well as a Bachelor of Laws (LLB).

Before this, he acquired 183 ordinary shares under his direct ownership under the same plan for $416.67 on 28 November 2018.

At the beginning of 2018, David had 48,737 ordinary shares in the form of indirect holding and 3,291 ordinary shares in the form of direct holding. During the year, he acquired a total of 2,127 ordinary shares at an average of 177.25 shares per month. To buy these shares, he paid a sum of $4,999.25 at an average of $2.35 per share.

David started to acquire the direct interest in the company from the year 2017. During 2017, he purchased 3,291 ordinary shares (direct ownership) and 3,737 ordinary shares (indirect ownership). Before 2017, he held 45,000 ordinary shares in the form of indirect holding. For the 2017 acquisition of shares, he paid $8,408 for indirect interest and $7,502.44 for the direct interest.

He acquired 22,500 ordinary shares (indirect interest) on 23 February 2015 for $49,500 and 22,500 ordinary shares (indirect interest) on 24 August 2015 for $48,825.

VLW received a payment of $5.5 million against the sale of 960 Donnybrook Road, Victoria on 20 December 2018. Before this, it provided its FY19 Guidance update which stated NPAT of $16 million -$17 million for 1H FY19. The company will be releasing its 1H19 results on 13 February 2019.

During the past 1 year, the stock has generated a negative yield of 37.86%. Today also, the scrip has plunged by 2.3% and is currently trading at $1.700 (as on 7 January 2019, 14:50 EST).


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