Stock Market Trading > ALLCO Finance Group

Allco sells wind farm
ALLCO Finance Group yesterday made a significant step towards lowering its senior corporate debt, announcing the sale of its US wind development project at a premium price of $US325 million ($345 million).
The Australian Business News - 12:00 a.m. 18 Jun 08
Allco boosted by US sale
SHARES in the troubled Allco Finance Group have almost doubled after it sold its US wind project to pay off outstanding debt.
Courier Mail Business News - 12:00 a.m. 18 Jun 08
Allco blows off wind-farm assets to deflate debt
The embattled Allco Finance Group is looking to cut its most pressing debt problems to $675 million by the end of next month after sealing a deal to sell its prized US wind farm assets.
Sydney Morning Herald Business - 12:00 a.m. 18 Jun 08
Wind farms deal fills Allco’s sails
The share price of the embattled Allco Finance Group almost doubled on news of the sale of its US wind project for $US325 million ($A345 million) and the slicing of its debt by $US230 million.
The Age - 12:00 a.m. 18 Jun 08
Allco Raises $165 Million to Reduce Debt in Wind Farm Sale, Shares Surge
Allco Finance Group , facing a June 30 debt deadline, said it will raise A$165 million from the sale of California’s largest wind power project to help reduce borrowings.
Topix - 4:29 p.m. 17 Jun 08
Allco Finance Sells Tehachapi Wind Farm; Shares Surge (Update3)
Allco Finance Group, facing a June 30 debt deadline, said it will raise A $165 million ( $155 million ) from the sale of California’s largest wind power project to …
Bloomberg - 2:54 p.m. 17 Jun 08
Allco sells off US wind project
ALLCO Finance Group has sold its US wind project for $US325 million ($346 million), as part of a program to sell assets and use the proceeds to pay down debt.
News Ltd Markets - 1:16 p.m. 17 Jun 08
Allco sells wind farm to pay off debt (ABC)
Allco Finance Group has announced it is selling a US asset in a move that will allow it to pay off some of its debt.
Yahoo!7 Business - 2:32 p.m. 17 Jun 08

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Allco to Post $1.4 Billion Loss as Cost of Writedowns, Asset Sales Mount
Allco Finance Group Ltd. , the Australian asset manager that lost 90 percent of its market value the past year, forecast a full-year loss of A$1.5 billion as bankers pore over its plans to restructure debt.
Topix - 2:09 p.m. 01 May 08

Allco Finance, Worst Australian Stock This Year, Posts $1.4 Billion Loss
Allco Finance Group Ltd. , the Australian asset manager that lost 90 percent of its market value the past year, forecast a full-year loss of A$1.5 billion as bankers pour over its plans to restructure debt.
Topix - 11:38 a.m. 01 May 08

Allco to Post a A$1.5 Billion Loss in 2008 on Writedowns
Allco Finance Group Ltd ., an Australian asset manager that’s struggling to repay debt, said it will report a loss of more than A $1.5 billion ( $1.4 billion ) in fiscal …
Bloomberg - 10:23 a.m. 01 May 08

ICE TV IS :: The Australian free-to-air electronic program guide (EPG) for media centers and personal video recorders (PVRs).

The entertainment, video and multimedia market is undergoing sweeping changes. It is currently characterised by an expanding product offering, which nevertheless remains highly heterogeneous due to the fact that it covers devices from fields that were previously separate. At the heart of a digital home is the technical concept known as the Media Centre.

It combines Digital Video Recorder (DVR), also referred to as Personal Video Recorder (PVR), home networking, CD and DVD playback and MP3. Cable TV operators, telcos, consumer electronics and IT companies are all vying for the Media Centre business for the Digital Home. Progress in this market will continue to evolve with more mass market developments expected from 2008 onwards. In 2005 Foxtel launched its new DVR and free-to-air DVRs are now available at selected retailers. Austar is set to launch its DVR in 2007. The key to the success for DVRs is the EPG.
 

In a stunning piece of acquisition action, Photon Group Limited (ASX: PGA )has acquired independent planning shop, Naked Communications. There is currently no announcement of the acquisition lodged with the ASX, but according to sources, the deal includes an initial upfront cash payment of £16.5 million.

Photon entered a trading halt last night, and are expected to resume this morning according to an ASX filing. 

HFA Investments made an impressive debut on the Australian Stock Exchange yesterday with its stock leaping from $1.10 to close at $1.39. “It has been a pretty healthy day,” HFA founder and chief executive Spencer Young said. He was happy with the institutional investors who had supported the offering. HFA is a fund of hedge funds group with $2.1 billion under management. Fund of hedge funds groups invest in different hedge funds to produce a low-risk blended return. HFA’s ready acceptance by the public market reflects the growing popularity of hedge funds in Australia.

Shares in Pengana Hedge Fund Managers and Everest Babcock & Brown have recently recovered from long periods of underperformance and the global hedge fund business is doing better after a difficult 2005. The Credit Suisse/Tremont hedge fund index was up 5.46 per cent in the first three months of the year.

Mr Young thinks that his group has some distinct advantages over its peers. “We have a very strong distribution capability,” he said. The group had 15,000 investors, whom it reached through financial planners. “We have a unique business. It is the equivalent of a mutual fund in the fund of hedge funds business.” HFA’s sales force travels the country educating financial planners on the attractions of hedge funds. The rationale for the IPO was partially to fund expansion.

But it was also to crystallise the position of HFA’s senior executives, who are also among the group’s largest investors. Mr Young made more than $66 million from the float, part of which he will reinvest in a 12.6 per cent stake in HFA. The names of his colleagues stud the list of HFA’s top 20 investors. HFA was owned by MFS before the sale, and MFS remains the largest shareholder with just under 38 per cent, followed by Mr Young.

Discount accommodation website Wotif.com is set to float on the Australian Stock Exchange (ASX) through a $161 million initial public offering (IPO). Wotif said it had lodged a prospectus with the Australian Securities and Investments Commission for the IPO, under which it will offer about 85.98 million shares. That represents about 42 per cent of Wotif’s issued capital. Existing shareholders will hang on to the other 58 per cent of the company, which was set up six years ago, with chief executive Graeme Wood retaining a 25.1 per cent share. “The offer price is to be set through an institutional bookbuild within a pricing range of $1.75 to $2.00 per share,” Wotif said in a statement.

“Based on the midpoint of this range, the offer size is approximately $161 million and Wotif.com’s market capitalisation will be approximately $381 million.” Mr Wood said Brisbane-based Wotif had a low-cost, highly-focused business model that had generated strong revenue and earnings growth. “We are the Australasian market leader in the online accommodation industry, processing approximately 36 per cent of all online accommodation sales in Australia and 18 per cent in New Zealand,” he said.

The company said it expected to deliver a net profit of $15.7 million in fiscal 2006, and $19.1 million the following financial year. It has forecast revenue to increase by 41 per cent in 2005/06 to $45.3 million, and by 23 per cent to $55.8 million in 2006/07 Last financial year, the company reported revenue of $32.1 million. Wotif.com also expects to declare a fully franked final dividend of one cent a share this financial year and 8.4 cents a share in fiscal 2007 Macquarie Equity Capital Markets Ltd and ABN Amro Morgans Corporate Ltd are joint lead managers for the offer

LINK http://www.wotif.com

Independent interactive TV provider IceTV hopes to raise $4 million to list on the Australian Stock Exchange, planning to expand its services and subscriber base.

IceTV says it has priced shares at 50 cents in its initial public offering (IPO), with a minimum purchase of 4,000 shares. IceTV is similar to TiVo in the US, and allows subscribers to watch and record television without having to programme a video recorder.

The company plans to target the free-to-air market in Australia which accounts for 75 per cent of all households. It has partnered with a number of manufacturers to integrate the IceTV service into media centres and digital video recorders. Chief executive Duncan Ross said IceTV changes the way people watch television. “The family dynamic in my home has been transformed since we moved from watching TV on the network’s timetable to watching our favourite shows when it suits us,” Mr Ross said. He said listing on the ASX would be an important step in the development of the company.

“Attracting investors through the share offer will enable us to push forward with developing a range of exciting new services that will enable our subscribers to take even greater control of their TV viewing,” Mr Ross said.

 IceTV IceTV: home of iceguide, an Electronic Program Guide (EPG) for Australian free-to-air TV on your Personal Video Recorder (PVR).
www.icetv.com.au/

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Gold Mining and Exploration in Western Australia

An alloy is a blend of elements forged into a metal with unique properties.  Alloy Resources Limited (‘Alloy’) is a blend of dynamic people and quality gold projects that combine to form a unique company.

Alloy is an Australian based mining and exploration company whose current focus is gold in Western Australia.  Alloy is aiming to recommence mining operations at the Comet Gold Mine, expand its resource base through aggressive exploration at all projects, and begin mining at the Horse Well gold project.

LINK: http://www.alloyres.com/