Midwest shareholder meeting not required

Midwest Corporation Ltd has announced it does not need shareolder approval to nominate preferred infrastructure provider Yilgarn Infrastructrue Ltd to develop the $1.5 billion Oakajee Port, following ASX consultation.

The news comes as rival Murchison Metals Ltd confirms that it is not in takeover talks with acquisitive Chinese steelmaker Sinosteel, which recently increased its offer for Midwest. That offer has been unanimously recommended by the Midwest board of directors, however the board has yet to recommend their shares in favour of the increased offer.


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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 30/09/16

1 year TSR5 year TSR
105thFortescue Metals Group182%5%
453rdIluka Resources4%-10%
462ndWoodside Petroleum3%3%
729thAtlas Iron-64%-67%
774 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$0 Other
$0 Other
$0 Issued
Total value as at the date of the transaction
Source: Morningstar


1st-Fortescue Metals Group$9,806.1m
3rd-Woodside Petroleum$6,935.4m
4th↑Iluka Resources$884.1m
5th↑Atlas Iron$803.7m
519 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

3rdNev Power$5.992m
12thStephen Pearce$2.551m
26thNick Cernotta$1.566m
Ranked by total remuneration from all listed WA companies

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