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Australasian Equities

Sample Report | Old Report | Not Current

AWE (ASX:AWE) Share Analysis and Stock Report

AWE
March 16, 2018 FAT-AUS-865
Speculative
high
H

Mitsui extends the open period of its offer

Mitsui & Co (Mitsui) has extended the open period for the shareholders of AWE to accept its takeover offer. Mitsui, in its most recent substantial shareholder notification has revealed that AWE shareholders are holding back on accepting. In the meantime, recent Australian Stock Exchange activity in AWE shares has seen a number of new shareholder names on the register. The following figure shows the location of the company’s assets:

AWE (ASX:AWE) Company Assets by location

Source: AWE

Mitsui has announced that it has extended the close date for acceptances of its takeover offer for AWE out to 6 April 2018. At the time of the announcement, Mitsui had indicated that it held 6.25% of the issued shares in AWE.

Members are not required to take any action at this stage regarding the time extension. We will advise an appropriate course of action regarding the Mitsui offer at a time closer to the new close date of 6 April 2018.

We note with some interest the recent lodgement of initial substantial shareholder notifications were the 5% equity holding in AWE has been breached.

At the time of writing, AWE (ASX:AWE shares were trading at A95 cents, which indicates that market speculation of a higher bid for AWE is receding.

In the meantime, AWE (ASX:AWE) will remain held in the Fat Prophets portfolio, and we will continue to monitor events closely.

For Fat Prophets’ current equity research and membership options, visit our Products page.

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About this archived stock report

This is an archived Fat Prophets equity research stock report and share analysis. It does not constitute current investment advice, financial product advice, or a recommendation to buy, sell or hold any financial product. It is provided for historical reference only, and reflects the market conditions, company information, forecasts and opinions available at its original publication date. The information may no longer be current or applicable. Past performance is not a reliable indicator of future performance. This is general information only and does not take into account your objectives, financial situation or needs. Before acting on anything in this report, you should consider its appropriateness to your circumstances and seek advice from a licensed financial adviser.

DISCLAIMER Fat Prophets has made every effort to ensure the reliability of the views and recommendations expressed in the reports published on its websites. Fat Prophets research is based upon information known to us or which was obtained from sources which we believed to be reliable and accurate at time of publication. However, like the markets, we are not perfect. This report is prepared for general information only, and as such, the specific needs, investment objectives or financial situation of any particular user have not been taken into consideration. Individuals should therefore discuss, with their financial planner or advisor, the merits of each recommendation for their own specific circumstances and realise that not all investments will be appropriate for all subscribers. To the extent permitted by law, Fat Prophets and its employees, agents and authorised representatives exclude all liability for any loss or damage (including indirect, special, or consequential loss or damage) arising from the use of, or reliance on, any information within the report whether or not caused by any negligent act or omission. If the law prohibits the exclusion of such liability, Fat Prophets hereby limits its liability, to the extent permitted by law, to the resupply of the said information or the cost of the said resupply.

Funds Management – In addition to the listed fund FPC, Fat Prophets Pty Ltd manages the separately managed accounts, namely Concentrated Australian Shares, Australian Shares Income, Small Midcap, Global Opportunities, Mining & Resources, and Asian Shares. These SMAs are managed under their own mandates by the fund managers, and this is independent to the research reports.

Staff trading – Fat Prophets Pty Ltd, its directors, employees and associates of Fat Prophets may hold interests in many ASX-listed Australian companies which may or may not be mentioned or recommended in the Fat Prophets newsletter. These positions may change at any time, without notice. To manage the conflict between personal dealing and newsletter recommendations the directors, employees, and associates of Fat Prophets Pty Ltd cannot knowingly trade in a stock 48 hours either side of a buy or sell recommendation being made in the Fat Prophets newsletter. Staff trades are pre-approved by an appointed staff trading compliance officer to ensure compliance with the staff trading policy.

For positions that directors and/or associates of the Fat Prophets group of companies currently hold in, please click here.

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