Portmans Neue Strategie - 500 Beiträge pro Seite

[Gekkos Sohn]

NEW LOOK PORTMAN LIMITED UNVEILS DIVERSIFIED INVESTMENT STRATEGY


NAME CHANGE APPROVED AS NEW GROWTH STRATEGY IS ANNOUNCED

Shareholders in Portman Limited today approved a change of name to Portman Limited as the Company unveiled plans to diversify into a more broadly-based investment group.

At the Company’s annual meeting in Perth, shareholders approved a range of resolutions including the name change and the declaration of a full-year unfranked dividend of 5 cents a share.

Portman’s Chairman, Mr George Jones, said the name change marked a significant change for the Company as it moved to establish itself as a diversified investment management company with a portfolio of interests designed to enhance the value of the Company.

He said Portman, whilst targeting a range of new opportunities, would retain interests in quality resource assets such as its iron ore project in Western Australia and would not rule out further investments in resources projects if the right opportunity came along.

“Portman’s strength has always been in identifying business development and marketing opportunities rather than in mining itself, so this approach does not represent a major departure from what we have done in the past,” Mr Jones said.

“It simply signals our intention to target a broader range of business sectors,” he said. “Our approach will, as always, be to target quality assets which will provide a real return for our shareholders.”

Mr Jones said Portman would continue to implement its iron ore growth strategy, centred on its Koolyanobbing operations in Western Australia. This strategy involves plans to increase iron ore output in stages to 6-8 million tonnes per annum over the next five years.

“This is a good long term business, which is well positioned strategically to take advantage of the growth potential for Australian iron ore exports as steel production increases in key North Asian countries,” he said. “In the medium term, we will consider the possibility of seeking additional outside investors or partners to participate in this project.”

Portman recently passed another milestone in its iron ore expansion strategy via the signing of an agreement with the Esperance Port Authority (EPA) to finalise the scope of the proposed expansion of the Esperance port to accommodate increased production from the Koolyanobbing Project.

Mr Jones said that Portman, subject to final go-ahead, intended to develop the Lithgow Silicon Project in New South Wales outside of the Company, either through a separate float or through joint ventures with other companies.

Australian Silicon Pty Ltd, the management company of a joint venture with Doral Mineral Industries Pty Ltd, has been working closely with the New South Wales Government to secure statutory approvals for the project.

Board approval has been granted to proceed with preliminary engineering design, although final go-ahead is subject to a number of statutory approvals and finalisation of capital funding, which is expected by May 2000.

“Our intended model will be for Portman to retain an interest through Portman Investments Pty Ltd, but for the hands-on development and mining activities to be handled outside of Portman directly – in line with our broader investment strategy,” Mr Jones said.

- ENDS -

RELEASED BY:
Jan Hope / Nicholas Read
Jan Hope & Partners
Telephone: [phone]

ON BEHALF OF:
Mr George Jones
Chairman
Portman Limited
Telephone: [phone]

Mr Geoff Wedlock
Managing Director
Portman Limited
Telephone: [phone]

[janolo]

...und was heißt das auf gut Deutsch??????

[Shakespear]

...absolut nichts neues leider. es nervt langsam. seit monaten heisst es, man möchte neue geschäftsfelder erschliessen, kommt aber nicht aus dem busch, was es den nun sein soll.

so wird das nix. :-(

gruß
s.

[thogo]

Da es hieß, man wolle im Juni entscheiden, wie es weitergehen soll,
und serviert nun das bisherige Geschäftsfeld, ist wohl auch in nächster Zeit nicht mit Neuem zu rechnen.

Theoretisch könnte sie in einem Jahr immer noch dort stehen, wo sie jetzt ist, obwohl der Druck auf die 80er-Marke recht stark geworden ist.
Die Frage ist, ob die Börse bereit ist, die Substanz zu honorieren.
Daß das Gewinnwachstum der nächsten Jahre aufgrund der verstärkten Siliziumförderung schon bald honoriert wird, halte ich für unwahrscheinlich.

[rennfahrer]

Portman in Aust um 0,51% gstiegen auf 0,79 Aust. Dollar.Bei einen
Umsatz von 5.082.062 Stücken.
Also wenn da nicht was in der Luft liegt.Es wurden 5 Mil.Stüche
gehandelt.
Auf jeden Fall habe ich gestern mir noch ein paar Portman Aktien
gekauft.Halte Portman immer noch für einen guten Wert.Der noch
viel freude machen wird.