4 July 2019other● Neutral
Hong Kong monthly return for June 2019: no change in issued shares, which stay at 1,320,439,437. Administrative filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 June 2019remuneration report● Neutral
Issued 2,161,669 nil-price long-term incentive rights to the executive director and senior executives, vesting 31 December 2021 on earnings-per-share and cost targets. About 0.16% of shares; any share settlement uses existing shares, so no new dilution is stated.
6 June 2019other● Neutral
Hong Kong monthly return for May 2019: no change in issued shares, which stay at 1,320,439,437. Administrative filing.
31 May 2019security holder rights change● Neutral
Constitution approved by shareholders at the 31 May 2019 AGM. Its approval indicates the proposed dividend-floor change passed (inference from the footnote; the text provided does not show the vote or the dividend clause).
31 May 2019investor presentation● Neutral
CEO presentation to the 31 May 2019 AGM, billing Yancoal as Australia's largest pure-play coal producer. Only the disclaimer text is readable here, so no new figures are evident.
31 May 2019other● Neutral
AGM chairman's speech repeating known results: 2018 profit A$852m, A$507m dividends, US$1.4bn debt repaid. Targets a 50% payout this year and says further debt repayment is a priority. Guidance of about 35Mt is unchanged; the speech cites A$63.5/t cost against the A$62.5/t previously reported.
6 May 2019other● Neutral
Hong Kong monthly return for April 2019: no change in issued shares, which stay at 1,320,439,437. Administrative filing.
29 Apr 2019agm notice● Neutral
Hong Kong version of the 2019 AGM notice, with the same resolutions including the dividend-floor change. Duplicate of the ASX notice already covered.
29 Apr 2019agm notice● Neutral
Notice of the 31 May 2019 AGM in Sydney. Votes cover three director elections, the remuneration report, the 50% dividend-floor constitution change, auditor reappointment (ShineWing) and a general share issue mandate.
29 Apr 2019annual report▲ Good
2018 annual report repeating known results: record A$852m profit on A$4,850m revenue, A$507m dividends, US$1.4bn of debt repaid since Coal & Allied, and A$268m raised in the Hong Kong offering. No new figures evident in the text provided.
29 Apr 2019annual report● Neutral
Hong Kong version of the 2018 annual report with the same record A$852m profit and A$507m dividends. Duplicate of the ASX report already covered.
29 Apr 2019other● Neutral
Corporate governance checklist for 2018 pointing to pages 80-99 of the annual report. Administrative filing with no new substance.
29 Apr 2019agm notice● Neutral
Sets the voting record time for the 31 May 2019 AGM at 7pm Sydney on 27 May, earlier than Australian holders are used to because of the dual ASX/Hong Kong listing. Shareholders must be registered by then to vote. Administrative.
26 Apr 2019security holder rights change▲ GoodMajor
Board proposes changing the constitution so the minimum dividend is the higher of 50% of profit or 50% of free cash flow, up from 40% of profit. Needs a special resolution at the 31 May 2019 AGM. The 25% floor in tougher conditions stays.
16 Apr 2019quarterly activities report▲ Good
March quarter saleable production was 13.0Mt (up 2% on a year earlier), with attributable sales of 9.4Mt. 2019 guidance is unchanged at about 35Mt attributable. MTW underground prefeasibility is now due to the Board in Q1 2020; Moolarben could rise from 18 to 24Mtpa ROM.
16 Apr 2019quarterly activities report● Neutral
Hong Kong version of the March quarter report: 13.0Mt saleable production, 9.4Mt attributable sales, guidance unchanged at about 35Mt. Duplicate of the ASX report already covered.
8 Apr 2019other● Neutral
Hong Kong monthly return for March 2019: no change in issued shares, which stay at 1,320,439,437. Administrative filing.
29 Mar 2019material agreement▲ Good
Four 2019 coal sales agreements signed with POSCO, which holds 20% of the Mount Thorley JV. Annual cap is US$780m, on about 3.3Mt of expected volume, versus US$428m of actual sales in 2018. Two expire 31 Dec 2019, two 31 Mar 2020.
28 Mar 2019resource reserve update● Neutral
Hong Kong version of the 2018 coal resources and reserves statement: attributable resources 6,442Mt, recoverable reserves 1,240Mt, marketable reserves 891Mt. Duplicate of the ASX release.
28 Mar 2019resource reserve update● NeutralMajor
Year-end 2018 coal statement: attributable resources 6,442Mt, recoverable reserves 1,240Mt and marketable reserves 891Mt, after depletion by production. Covers the enlarged asset base including Hunter Valley Operations and Mount Thorley Warkworth; no prior-year totals appear in the text provided.
27 Mar 2019agm notice● Neutral
The annual general meeting will be held on Friday 31 May 2019. Administrative notice with no other content.
6 Mar 2019other● Neutral
Hong Kong monthly return for February 2019: no change in issued shares, which stay at 1,320,439,437. Administrative filing.
4 Mar 2019remuneration report● Neutral
1,744,704 short-term and 1,483,811 long-term performance rights issued to the executive director and senior executives at nil price. They are about 0.13% and 0.11% of issued shares and vest 2020-21; any share settlement uses existing shares. Routine remuneration.
26 Feb 2019investor presentation▲ Good
Results presentation repeating the record A$852m profit, A$2,180m operating EBITDA and A$507m total 2018 dividends (~60% payout). It states a 2019 target payout of 50% of net profit after tax. Mostly known facts.
25 Feb 2019annual report▲ GoodMajor
Full-year accounts: 2018 profit after tax A$852m (2017: A$229m) on revenue A$4,850m. A final unfranked dividend of A$377m (28.6 cents a share) is recommended, payable 30 April 2019. Follows the A$130m interim dividend paid in September.
25 Feb 2019annual report▲ GoodMajor
Record 2018 profit of A$852m on A$4,850m revenue, with a A$377m final dividend (ordinary plus special). A further US$500m of debt is repaid 26 February 2019, bringing prepayments to US$1.4bn since the Coal & Allied deal. Gearing fell to 34.6%.
13 Feb 2019other● Neutral
Board meeting notice: directors will meet on 25 February 2019 to approve 2018 final results and declare a final dividend, if any. Administrative notice.
11 Feb 2019other● Neutral
Hong Kong monthly share return: issued shares rose 563,881 to 1,316,077,537 from the retail offer, with the 4,361,900 over-allotment shares issued 3 January noted as outstanding. Administrative filing repeating known figures.
18 Jan 2019quarterly activities report▲ Good
December quarter saleable production was 12.4Mt, with a record 2018 total of 50Mt, up 59%. Attributable quarterly sales were 10.1Mt. 2019 guidance is about 35Mt attributable. A proposed 6Mtpa underground mine at Mount Thorley Warkworth has finished prefeasibility drilling.
18 Jan 2019quarterly activities report● Neutral
Hong Kong version of the December quarter report: 12.4Mt saleable production, record 50Mt for 2018 (up 59%), attributable sales 10.1Mt, 2019 guidance about 35Mt attributable. Duplicate of the ASX report already covered.