Posts Tagged ‘APE’

ASX Company News: AP Eagers Enters Carsguide JV Agreement With News Ltd

Friday, May 6th, 2011

A.P. Eagers Limited (APE) has entered into a non-binding heads of agreement with News Limited and a foundation consortium of motor dealers including Automotive Holdings Group Limited and Trivett Classic Pty Ltd to create a new online, car sales listing offering.

The dealer consortium which will represent 50% of the joint venture, will be expanded to include a significant portion of Australia’s motor dealership industry. A.P. Eagers expects to have an ownership interest in the venture of 7.5%.

It is expected that combining the strength of News Limited’s Carsguide brand, with the breadth and depth of News Limited’s marketing support in newspapers and digital media, and the industry’s leading motor dealers will create a significant player in online car listings and content, and will offer the industry a real alternative to carsales.com.au, the dominant industry provider.

A.P. Eagers is excited to be involved in this landmark venture and believes extensive industry involvement in the new Carsguide venture will provide a superior customer experience for the car buying public. It is expected that final binding agreements for the venture will be completed next month and the new Carsguide will be operational in the second half of 2011.

www.apeagers.com.au

http://www.traderdealer.com.au/fundamentals/ape

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Dividends: AP Eagers Ex Dividend On 22/3/2011

Monday, March 21st, 2011

A.P. Eagers Limited (APE) will go ex dividend on 22/3/2011. The current dividend payment is 41 cents and it is 100% franked. The record date is 28/3/2011 and the dividend will be paid on 12/4/2011. Based on the full year payment the dividend yield is 5.1%.

*Current Yield: 3.3% Franking: 100% DRP Discount: 5%

A.P. Eagers Limited

*Yield has been calculated on the closing price on the 14/3/2011. Current yield is based on the current dividend payment only.

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Dividends: AP Eagers Ex Dividend On 9/9/2010

Sunday, September 5th, 2010

A.P. Eagers Limited (APE) will go ex dividend on 9/9/2010. The current dividend payment is 23 cents and it is 100% franked. The record date is 15/9/2010 and the dividend will be paid on 30/9/2010. Based on the full year payment the dividend yield is 5.0%.

*Current Yield: 1.8% Franking: 100% DRP Discount: 5%

A.P. Eagers Limited

*Yield has been calculated on the closing price on the 2/9/2010. Current yield is based on the current dividend payment only.

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ASX Company News: AP Eagers Takeover Offer For Adtrans

Thursday, August 5th, 2010

A.P. Eagers (APE) announced that it intends to make a bid for all of Adtrans’ shares (ADG) under an offer which values each Adtrans share at $4.00 per share  plus the fully franked final dividend of $0.15 announced on 29 July 2010. This represents:

  • a premium of 12.7% to the closing price of Adtrans on the ASX on 4 August 2010 of $3.55; and
  • a premium of 15.7% to the one month volume weighted average price on the ASX prior to 4 August 2010 of $3.4587.

A.P. Eagers currently owns approximately 27.9% of Adtrans. It’s most recent acquisition of Adtrans shares settled on 9 June 2010 at $3.50 per share.

Adtrans’ independent directors have stated that they intend to unanimously recommend the bid to Adtrans’ shareholders, in the absence of a superior proposal, but subject to an independent expert, to be engaged by Adtrans, confirming that the offer is both fair and reasonable and subject to reviewing the formal offer document.

Each of the independent directors has also stated that he intends to accept the offer in respect of all the Adtrans shares he controls, in the absence of a superior proposal, but subject to the independent expert’s report confirming that the offer is both fair and reasonable and subject to reviewing the formal offer document.  Entities associated with the independent directors’ control, in aggregate, 24.7% of Adtrans’ issued capital.

Adtrans’ shareholders will have the following choice under A.P. Eagers’ offer:

  • (shares and cash) $2.00 cash (subject to the payment of a special dividend) for each Adtrans share plus 4 A.P. Eagers shares for every 25 Adtrans shares (which is the equivalent of 0.16 A.P. Eagers shares for each Adtrans share); or
  • (cash only) $4.00 cash for each Adtrans share (subject to the payment of a special dividend) they hold.

The combined group will have 95 dealership locations representing 29 car brands and 7 truck brands.  A.P. Eagers’ Chairman, Ben Macdonald said, “Combining Adtrans and A.P. Eagers will be immediately earnings accretive for each issued A.P. Eagers share which will be achieved from a scale acquisition within the company’s core business.”  A.P. Eagers believes that operational synergies would flow from the proposal.  An independent expert will be giving to Adtrans’ shareholders its assessment of A.P. Eagers’ bid.

www.apeagers.com.au

http://www.traderdealer.com.au/Fundamentals/ape

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AP Eagers Ex Dividend On 22/3/2010

Tuesday, March 9th, 2010

A.P. Eagers Limited (APE) will go ex dividend on 22/3/2010. The current dividend payment is 40 cents and it is 100% franked. The record date is 26/3/2010 and the dividend will be paid on 9/4/2010. Based on the full year payment the dividend yield is 4.8%.

*Current Yield: 3.1% Franking: 100% DRP Discount: 5%

www.apeagers.com.au

*Yield has been calculated on the closing price on the 5/3/2010. Current yield is based on the current dividend payment only.

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AP Eagers Acquires New Dealership

Saturday, February 13th, 2010

A.P. Eagers Limited (APE) today announced that it has agreed to acquire the Caloundra City Autos group of dealerships, with completion expected on 31 March 2010. The acquisition cost is approximately $10.5 million including goodwill, and A.P. Eagers will take long- term leases of all properties associated with the business.

Caloundra City Autos comprises Holden, Honda, Mitsubishi, Suzuki and Great Wall new car franchises on two prime sites in the growing Sunshine Coast region of Queensland, and will complement A.P. Eagers’ existing luxury brand business located at nearby Currimundi. Caloundra City Autos sells approximately 1,800 new and used vehicles each year, has an annual turnover of approximately $65 million and employs 75 staff. It is a financially strong, well balanced group of dealerships in a good location, achieving above industry benchmarks and capable of delivering growth in future years.

Current cash resources will be used to fund the acquisition which is expected to be immediately earnings accretive. The acquisition reinforces A.P. Eagers’ strategy of expanding its core motor dealership activities by identifying and acquiring strong and profitable operations in key market areas.

www.apeagers.com.au

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AP Eagers Ex Dividend On 9/9/2009

Monday, September 7th, 2009

A.P. Eagers Limited (APE) will go ex dividend on 9/9/2009. The current dividend payment is 22 cents and it is 100% franked. The record date is 15/9/2009 and the dividend will be paid on 30/9/2009. Based on the full year payment the dividend yield is 4.6%.

Current Yield: 2.3% Franking: 100% DRP Discount: 5%

www.apeagers.com.au

*Yield has been calculated on the closing price on the 4/9/2009. Current yield is based on the current dividend payment only.

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AP Eagers Buyback

Tuesday, March 24th, 2009

A.P. Eagers Limited (APE) announced its intention to conduct an on-market buy-back of up to 10% of its issued ordinary shares. The share buy-back will commence on 6 April 2009, and is expected to occur progressively within 12 months from commencement, subject to market conditions. The buy-back reflects the company’s focus on maintaining an efficient balance sheet through active capital management and is testament to the company’s strong balance sheet represented by Net Tangible Assets of $8.11 per share as at 31 December 2008. 

http://www.apeagers.com.au/

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