Our daily board moves wrap includes Michael Pivac, Aidan Flynn, Simon Amos, Sally-Anne Layman, Mark Le Messurier, Michael Ball, Tanugula Rao, Geoffrey Clifford, Joe Graziano, and Mauro Balzarini.
Livestock exporter Wellard has appointed current chairman John Klepec as interim executive chairman, after executive director of operations Fred Troncone resigned.
Local agribusiness Wellard has promoted non-executive director Fred Troncone to an executive position on the board, as its founder and chief executive committed to remaining with the company until at least the end of the year.
Live cattle exporter Wellard has announced the sale of one of its mid-sized ships to Israeli company Dabbah Slaughterhouse for $US26 million ($A35 million).
Fremantle-based livestock exporter Wellard has appointed Chinese businessman Kanda Lu as an executive director in an effort to boost the company's expansion into China's beef cattle market.
The major shareholders in Wellard, including China's Fulida Group Holdings and local agribusiness Heytesbury, are expected to lift their stake in the livestock exporter after a big shortfall from its rights issue.
Loss-making livestock exporter Wellard is undertaking a share placement and entitlement offer as part of a $52 million capital raising it hopes will allow it to exploit a predicted improvement in trading conditions.
The investment vehicle of Pakistani meat producer Tariq Butt has sold its remaining 9.5 per cent stake in Wellard to private company Heytesbury, at a premium to the listed agribusiness's recent trading price.
Shareholders in agribusiness Wellard have strongly rejected four resolutions at the company's annual meeting, though their anger over the company's poor performance was not enough for the nominee of a dissident shareholder to get elected to the board.
Wellad's third-largest shareholder says it plans to vote against the live cattle exporter's remuneration report and has asked shareholders to back the appointment of one of its representatives to the board.
Wellard chief executive Mauro Balzarini has sold a big chunk of his stake in the local agribusiness to a Chinese firm and repaid the company $16.3 million through his private investment vehicle.
Local businesswoman Sharon Warburton has resigned from the board of live cattle exporter Wellard, which has missed its prospectus forecasts on revenue, profit and margins to book a $23.3 million net loss.
Perth-based agribusiness Wellard has warned the market of yet another profit downgrade, its third since February, with the Perth-based agribusiness now expecting a $15 million net profit at best.
Investors have punished local agribusiness Wellard for announcing another downgrade to its profit outlook, which could be as little as half of its original estimate.
Shares in agribusiness Wellard have fallen 9.2 per cent as the company revealed its first financial result since listing in December last year, while also flagging a reduction in expected net profit.
SPECIAL REPORT: Livestock exporter Wellard has had a rocky start to life as a listed company after completing Western Australia's second-largest capital raising of 2015, and the state's sixth-largest initial public offerings of all time. Wellard's $299 million IPO was one of the few high points of 2015, when a lack of mining deals led a sharp slide in overall capital raising activity.
Live cattle exporter Wellard is set to list at $1.39 per share, launching a prospectus to raise close to $300 million to give the business a market capitalisation of almost $560 million.
Wellard managing director Mauro Balzarini is planning to sell a 60 per cent stake in the livestock export business through an initial public offering (IPO) that will be one of Western Australia's largest.
A series of major trade sales and the prospect of one of WA's biggest-ever IPOs were highlights in what remained subdued capital markets in the September quarter. Also in our special report, how a surge in backdoor listings is attracting Silicon Valley entrepreneurs.
Australia's $1.2 billion live cattle trade has gone from gloom to boom this month but, while welcoming the news, major players in the sector are keeping their celebrations in check as they evaluate recent events.
Australia's largest live cattle exporter, Wellard Group, has welcomed a new deal that will open up the China market but has cautioned about the likely boost, especially for cattle producers in northern Australia.
WESTERN Australia's agricultural exporters look set for a flat year ahead as dry conditions reduce the state's forecast crop harvest for 2012-13, and livestock exporters suffer adverse trading cond
