Macquarie Media Group (MMG) said it was proposing to call an Extraordinary General Meeting to enable security holders to vote on a buy-back program of up to approximately $50 million of MMG securities. The buy-back program will comprise both an off-market tender buy-back and an on-market buy-back.
Colonial First State Property Retail Limited, the Manager of CFS Retail Property Trust (CFX) said it had settled the $100 million sale of Golden Grove Village Shopping Centre located in South Australia. The transaction, which was conducted off market, was announced to the Australian Securities Exchange on 19 January 2009.
Ceramic Fuel Cells Limited (CFU) said it proposes to raise around 9 million pounds ($20.1 million) gross by way of a placing of 207,986,051 new ordinary shares at 2.2 pence each with institutional investors underwritten by Nomura Code Securities Limited and by way of a subscription of 201,060,637 new ordinary shares at 2.2 pence each with certain cornerstone investors in Europe and Australia. The raisings is subject to the approval of shareholders.
Following the announcement by the Federal Minister for Health and Ageing regarding private health insurance premiums, NIB Holdings Limited (NHF) provided further information in respect of changes to its premiums and health cover products. The company said premiums would increase by an average of 5.18% across all products and would be effective from 1 April 2009. NHF’s managing director Mark Fitzgibbon said the increasing cost of providing health cover continued to place pressure on health funds to keep premium prices down.
Qantas Airways Limited (QAN) said it had reduced its fuel surcharge on its international routes. Effective from 3 March 2009, the fuel surcharge on a ticket to Europe was reduced from $160 to $95 while a ticket to the US would be $85, or $45 cheaper. Qantas said it had already removed the fuel surcharge on its domestic flights earlier at the start of the year. Executive general manager Qantas John Borghetti said the airline had now reduced surcharges on multiple occasions in recent months.
