RESIGNATION Transurban's chief financial officer, Tom Honan, who was overlooked for the top job at the toll-road operator, has quit the company three weeks after Scott Charlton was appointed chief executive. Mr Honan, whose resignation is effective immediately, has been replaced as chief financial officer by Samantha Hogg.
VITAL SIGNS Osprey Medical, a US-based medical device company, has had a good start to life on the sharemarket, lifting 2? to close at 42?. Osprey's flagship technology, the CINCOR System, is used in heart procedures to prevent kidney damage. The company raised $20 million in an IPO last month.
DECLINE Stockbroker Bell Financial said revenue fell $13 million to $33.5 million, with a $200,000 pre-tax loss booked, in the first quarter to March 31. "Despite current markets and trading conditions being the most difficult and challenging in recent memory, the business remains conservatively managed, has excellent staff in all key areas, and is well capitalised," yesterday's annual meeting was told.
REVIEW APN News and Media says several parties have made approaches to buy or partner with the company in New Zealand. The company said yesterday it had begun a strategic review of its New Zealand newspaper and radio assets. APN chief executive Brett Chenoweth said the approaches had come from Australian and international companies.
ACQUISITION Aquila Resources says Sumitomo Corp has received approval from the Foreign Investment Review Board to acquire a half-interest in the Isaac Plains coalmine, which it is seeking to buy for $430 million. Vale holds a pre-emptive right to the stake and it has not signalled how it intends reacting to the sale agreement.
FORECAST Alumina shareholders were warned at yesterday's annual meeting there would be little improvement in the outlook in the year ahead, with 2012 starting "with weak pricing and an uncertain market, due to the macro-economic outlook for Europe". Aluminium demand growth is expected to be 5-7 per cent this year, down from 2011 levels.
REFINANCE Investa Property Group has successfully tapped two European banks, as part of a syndicate of seven to refinance a $1.9 billion debt facility that was due to mature in December. The deal involves seven domestic and international banks, including ANZ, CBA, National Australia Bank, Westpac, Bank of China, BOS International and Credit Agricole CIB.