Australasia's home for timber news and information

Ta Ann bonus issue of shares

Ta Ann is proposing a bonus issue of up to 61.796 million new ordinary shares of Ta Ann on a 1-for-5 basis on an entitlement date yet to be determined.

Based on the maximum, Ta Ann’s issued capital will rise to 370.77 million shares from the 309.1 million shares it currently has. The company does not expect any impact on uts earnings although in general a bonus issue may create positive sentiment particularly for retail shareholders.

In Australia the company has been laying off staff blaming an international green group campaign against the sector. Just last month the company confirmed that 40 staff would go from its Tasmanian facility the foresty union has stated that around 60 are expected to go.