4 Mar 2024other● Neutral
Hong Kong monthly return for February 2024: no change in issued shares, which remain 1,320,439,437. Administrative filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Mar 2024director officer appointment● Neutral
Hong Kong list of directors now includes Debra Bakker as the third independent, alongside Fletcher and Raby; eight directors in total. Administrative restatement of the board change announced on 23 February.
23 Feb 2024annual report● NeutralMajor
2023 revenue A$7.8bn (2022: A$10.5bn) as realised price fell 39% to A$232/t; cash A$1.4bn, last A$496m of loans prepaid. Final dividend A$429m (A$0.325/share). 2024 guidance: 35-39Mt output, cash costs A$89-97/t, capex A$650-800m, with output weighted to second half.
23 Feb 2024resource reserve update▼ BadMajor
Year-end 2023 attributable coal resources fell 6.6% to 4,857Mt (from 5,201Mt). Recoverable reserves fell 1.9% to 970Mt (989Mt) and marketable reserves 1.5% to 720Mt (731Mt), continuing the gradual reserve decline.
23 Feb 2024annual report● NeutralMajor
2023 net profit A$1,819m, down 49% from A$3,586m in 2022, on revenue of A$7,778m (down 26%). Board declared a A$429m final dividend (A$0.325/share), paid 30 April 2024. Interim dividend was A$489m, so 2023 dividends total A$918m.
23 Feb 2024investor presentation● Neutral
Slide presentation for the 2023 results released the same day. Readable text is only the cover and disclaimer; no new figures can be stated beyond the results release.
23 Feb 2024director officer appointment▲ Good
Debra Bakker joins as independent director from 1 March 2024 and will chair the Nomination and Remuneration Committee. This fills the vacancy left by Helen Gillies and restores independents to one-third of the board, resolving the Hong Kong listing rule gap.
23 Feb 2024dividend declaration● Neutral
Hong Kong cover filing for the cash dividend announcement; the readable text has no amounts or dates. The A$429m final dividend was already reported in the results.
20 Feb 2024other● Neutral
Notice that the 2023 financial result will be released 23 February 2024 after 7:30pm AEDT, with an investor webcast on 26 February at 11am Sydney. Administrative; no financial information.
9 Feb 2024director officer appointment▼ BadMajor
Independent director Helen Gillies, on the board since 30 January 2018, resigns effective 9 Feb 2024 to devote time to other business, with no disagreement. Independents fall to two of seven, below the one-third Hong Kong requirement; the company aims to appoint a replacement within three months.
9 Feb 2024director officer appointment● Neutral
Hong Kong list of directors and committees after Helen Gillies' departure: seven directors, one executive (Ning Yue), four non-executive and two independents (Fletcher, Raby). Administrative restatement of the board change.
8 Feb 2024other● Neutral
Board meeting set for 23 February 2024 to approve 2023 final results and consider a final dividend, if any. Administrative notice; no results or dividend amount are given.
1 Feb 2024other● Neutral
Hong Kong monthly return for January 2024: no change in issued shares, which remain 1,320,439,437. Administrative filing.
18 Jan 2024quarterly activities report▲ Good
December quarter: attributable saleable output 9.7Mt, up 4%; realised price A$196/t. Full-year output 33.4Mt, mid-range of the 31-36Mt guidance. Cash rose A$477m to A$1.40bn with no debt. Costs expected mid-range of A$92-102/t; capex toward the low end of guidance.
15 Jan 2024material agreement● Neutral
Board renewed the coal sales and purchase framework agreements with Glencore, plus the HVO purchase agreement with Glencore subsidiary Anotero, for 1 Jan 2024 to 31 Dec 2026. Yankuang confirmed on 15 Jan 2024. Caps are not readable. Early-2024 transactions are exempt as under 1%.
15 Jan 2024other● Neutral
Notice that the 4Q 2023 quarterly report will be released on 18 January 2024 after 7:30pm AEDT, with an investor webcast on 19 January at 11am Sydney. Administrative; no financial information.
4 Jan 2024other● Neutral
Hong Kong monthly return for December 2023: no change in issued shares, which remain 1,320,439,437. Administrative filing.
22 Dec 2023material agreement● Neutral
Board renews related-party agreements from 1 Jan 2024: coal purchases from Yankuang Energy, from POSCO (Mount Thorley only), and management services to Shandong Energy subsidiaries. Yankuang confirmed its internal processes on 22 Dec. Past Yankuang purchases were small (US$6.2m in nine months of 2023). Annual caps are not readable.
22 Dec 2023other● Neutral
Updated Board Charter lodged under Hong Kong requirements. Readable text covers board structure and independence criteria, including a minimum of four directors and two Australia-resident directors, one independent. No readable change is identified, so no new substance can be stated.
20 Dec 2023material agreement● Neutral
Yancoal renews bank guarantee frameworks with Yankuang Energy subsidiaries: three years (1 Jan 2024 to 31 Dec 2026) for the Australian entities and one year for Premier Coal. Fees equal the financier's fee plus a 5% margin. Continues the expiring 2022 arrangement; exempt from independent shareholder approval.
8 Dec 2023material agreement● Neutral
HV Operations signs a new three-year diesel supply agreement with Glencore's Australian oil arm, 1 Jan 2024 to 31 Dec 2026, replacing the extended 2022 one. Annual caps are US$220m for 2024 and 2025 and US$245m for 2026.
5 Dec 2023other● Neutral
Hong Kong monthly return for November 2023: no change in issued shares, which remain 1,320,439,437. Administrative filing.
13 Nov 2023investor presentation● Neutral
Company presentation for the Morgan Stanley Asia Summit on 15-16 November 2023. Only the cover and disclaimer are readable, so no new figures can be stated.
2 Nov 2023other● Neutral
Hong Kong monthly return for October 2023: no change in issued shares, which remain 1,320,439,437. Administrative filing.
30 Oct 2023material agreement● Neutral
HV Operations (51% owned) extends its Glencore diesel supply agreement by two months to 31 December 2023 while a new one is finalised. The 2023 cap rises from A$186m to A$254m. Glencore is the 49% partner in HVO.
19 Oct 2023quarterly activities report● Neutral
September quarter: attributable saleable output 9.3Mt, up 7% on the June quarter, but realised price fell 13% to A$197/t. Cash was A$920m after the A$489m dividend, with no debt. 2023 guidance of 31-36Mt is unchanged.
18 Oct 2023agm notice● Neutral
Address and slides for the 18 October EGM on the Yankuang-related coal sales agreements, delivered by Co-Vice Chairman Gregory Fletcher. Only introductory and disclaimer material is readable, so no new figures can be stated.
18 Oct 2023agm notice▲ Good
All resolutions at the 18 October EGM passed by poll, approving the renewed coal sales agreements with Yankuang-related parties. This resolves the open vote from the September circular; vote counts are not in the readable text.
16 Oct 2023other● Neutral
Notice that the 3Q 2023 quarterly report will be released on 19 October after 7:30pm AEDT, with a CEO David Moult webcast on 20 October at 11am Sydney. Administrative; no financial information.
5 Oct 2023other● Neutral
Hong Kong monthly return for September 2023: no change in issued shares, which remain 1,320,439,437. Administrative filing.