APA Group (ASX:APA), today reconfirms its FY2019 guidance following termination of the Implementation Agreement with the CKI Consortium. The Implementation Agreement was terminated last night in accordance with its terms, following the Federal Treasurer’s decision to prohibit the CKI Consortium’s proposed acquisition of APA as described in APA’s ASX release of 21 November 2018.
APA Group (ASX: APA) (APA) last night received notice from the CKI Consortium that the Federal Treasurer had notified it of his decision to prohibit the trust schemes under which the CKI Consortium would acquire all of the stapled securities in APA (Schemes).
APA Group, a leading energy infrastructure business, today announced it has executed an agreement to extend and expand services to an existing customer in the Goldfields region, Western Australia. Under this contract, gas will travel over 1,200km across APA’s West Coast Grid.
APA Group notes the Australian Federal Treasurer advised his preliminary view on the trust schemes under which the CKI Consortium proposes to acquire all of the stapled securities in APA.
APA Group (ASX: APA) today announced that it will publish the financial reporting information for its non-scheme pipelines under Part 23 of the National Gas Rules, by today’s close of business.
APA Group (ASX: APA) (APA) notes CKM Australia Bidco Pty Ltd (Bidder) has confirmed to APA that the shareholders of CK Asset Holdings Limited (CKA), CK Infrastructure Holdings Limited (CKI) and Power Assets Holdings Limited (PAH) have voted to approve the relevant resolutions put to shareholders of each of those entities relating to the previously announced trust schemes under which Bidder will acquire all of the stapled securities in APA (Schemes).
APA Group FY2018 Annual Meeting addresses and presentation by Chairman Mr Michael Fraser and Managing Director Mick McCormack can be review here.
Following recent discussions with investors, the Board of APA Group (ASX: APA) wishes to reaffirm its commitment to APA’s Corporate Governance Framework voluntarily adopted with effect from 1 July 2017. The Corporate Governance Framework has been available on APA’s website since adoption as a continuing commitment.
APA Group (ASX: APA) has identified that the current termination payments of CEO and Managing Director, Mick McCormack, were incorrectly stated in the Remuneration Report contained within the Annual Financial Results lodged with the Australian Securities Exchange on 22 August 2018.