Investment Matters

Company news: Heemskirk; Origin Energy

Over 90% of Heemskirk's shareholders accepted the takeover offer from Northern Silica (backed by Taurus Funds Management).  Remaining shareholders will be subject to compulsory acquisition, and the company will be delisted in the near future.  Shares of First Samuel clients (and other shareholders who accepted the script option) will be transitioned to the private company Northern Silica.  We look forward to Heemskirk taking the next step in its journey, as it finishes construction and starts production in the next few months.

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Origin Energy sold its Darling Downs Pipeline network for $392m.  It has entered an agreement with the purchaser to acquire gas transportation services using the network.  Proceeds from the sale will be used to reduce debt.