Coote Industrial to pay Elph $6.5m

Coote Industrial will be forced to pay Elph $6.5 million after the takeover bidder exercised its put option to sell its stake in Coote subsidiary, Greentrains.


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Excercising the put option reduces Elph's interest in Greentrains. Elph won't gain control of Coote with manoeuvre, he'll merely put Coote in greater financial duress by forcing payment of the $6.5m within 20 days.

A floundering 'ship' with a poor crew steering. All credit and luck to the entrepreneurial pirates seeking to take legal charge of the bridge. Nobody else is turning this ship around. United scored a new substantial contract for NW rail stock assets recently but current crew of Coote are muddling with ill conceived structural concoctions & debt issues in a tough finance market.

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Engenco (EGN)

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Source: Morningstar

Top 10 Shareholders

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Total Shareholder Return as at 31/05/19

1 year TSR5 year TSR
214thAspen Group10%1%
270thEnergy Developments0%-9%
728 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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63rd-Energy Developments$27.2m
64th-Aspen Group$22.1m
79 listed non wa companies ranked by revenue.
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