Elders Limited (ASX: ELD)
ASX listed agribusiness company Elders Limited came forward to present the change in the ownership of its Hong-Kong based substantial holder.
The biotechnology group Hebang Biotechnology Investment Limited (SHBC HK) notified the divestment of its ownership in Elders Limited shares. Hebang Group stated that it has disposed of 1,409,000 ordinary shares in Elders and have subsequently ceased to be the substantial holder of the company with effect from 4 January 2019.
The decision is claimed to be based on Eldersâ Limited amendment to Appendix 3B released on 2 January 2019. In that release, Elders announced the new issue of 61,609 shares in accordance with its Dividend Reinvestment Plan. The issue price was stated to $7.095 per share with the issue date of 14 December 2018.
Moreover, the person whose relevant interest has been changed includes Hebang Biotechnology Investment Limited (SHBC HK), Sichuan Hebang Biotechnology Corporation Limited (SHBC), each of the SHBC Group entity, Hebang Group, each of the related bodies corporate of Hebang Group and Zhenggang He. As per the report, Hebang has already notified Elders concerning the company ceasing to be a substantial holder of Elders Limited on 28 December 2018.
In todayâs trading session, i.e., 7 January 2019, Elders Limitedâs stock had no daily price movement. The stock last traded at $6.990 with a PE ratio of 11.270 x with a market capitalization of $849.56 million. Moreover, ELD has fallen 15.07% over the past 12 months including a plunge of 4.64% in the recent three months.
Speedcast International Limited (ASX: SDA)
Speedcast International edged up on ASX after The Central Bank of Norway, Norges Bank, acquired substantial stakes in satellite service provider. The bullish market trends seen over Speedcast securities pulled the stock 2.518% up to conclude todayâs trading session at $2.850.
On Monday, 7 January 2019, Speedcast International Limited (ASX: SDA) forwarded the official release by Norges Bank on ASX. The investment management bank notified that as on 4 January 2019 it has become a substantial holder of Speedcast International Limited with a voting right of 5.23%. Now, Norges Bankâs holds 12,511,766 ordinary shares in Speedcast on behalf of the Government of Norway with discretionary powers. It reflects 5,020,039 shares acquired in just four months before the day the Bank became the substantial holder, i.e., 4 January 2019.
The registered holders of the securities include Citicorp Nominees Pty Limited and J.P. Morgan Nominees Australia Ltd. Citicorp holds 6,019,270 shares whereas the remaining 6,492,496 shares are held by J.P. Morgan entity.
SDA last traded at a price to earnings ratio of 43.440 x with a market capitalization of $665.61 million as at 7 January 2019. Over the past 12 months, the stock has witnessed a negative performance change of 48.52%, and in the past three months, it has been down by 29.44%.
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