Tillkännagivande • Apr 08
Ampol Limited, Annual General Meeting, May 14, 2026 Ampol Limited, Annual General Meeting, May 14, 2026. Location: gold melting room, at the mint, 10 macquarie street, sydney Australia Tillkännagivande • Feb 23
Ampol Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended December 31, 2025, Payable on April 2, 2026 Ampol Limited announced ordinary fully franked dividend of AUD 0.60000000 per share for the six months ended December 31, 2025. Ex-date: March 6, 2026. Record date: March 9, 2026. Payment date: April 2, 2026. Tillkännagivande • Oct 28
Ampol Limited to Report Q3, 2025 Results on Oct 30, 2025 Ampol Limited announced that they will report Q3, 2025 results on Oct 30, 2025 Recent Insider Transactions • Aug 23
Independent Non-Executive Director recently bought AU$373k worth of stock On the 21st of August, Guy Templeton bought around 13k shares on-market at roughly AU$29.83 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$532k more in shares than they have sold in the last 12 months. Declared Dividend • Aug 20
First half dividend reduced to AU$0.40 Dividend of AU$0.40 is 33% lower than last year. Ex-date: 29th August 2025 Payment date: 25th September 2025 Dividend yield will be 1.5%, which is lower than the industry average of 8.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (29% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. Reported Earnings • Aug 19
First half 2025 earnings released: AU$0.11 loss per share (vs AU$0.99 profit in 1H 2024) First half 2025 results: AU$0.11 loss per share (down from AU$0.99 profit in 1H 2024). Revenue: AU$15.3b (down 16% from 1H 2024). Net loss: AU$25.3m (down 111% from profit in 1H 2024). Revenue is forecast to stay flat during the next 3 years compared to a 6.0% growth forecast for the Oil and Gas industry in Australia. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Tillkännagivande • Aug 18
Ampol Limited Declares Interim Ordinary Dividend for the Year 2025, Payable on September 25, 2025 Ampol Limited's board has declared an interim ordinary dividend of 40 cents per share, fully franked. This represents a payout ratio of 53% for the first half, in line with Ampol's stated Dividend Policy pay-out ratio of 50% to 70% of Underlying RCOP net profit after tax -- attributable to parent. This compares to Ampol's 2024 interim fully franked dividend of 60 cents per share. Record date for 2025 interim dividend is September 1, 2025. Payment date for the 2025 interim dividend is September 25, 2025. Ex-date is August 29, 2025. Tillkännagivande • Apr 07
Ampol Limited, Annual General Meeting, May 15, 2025 Ampol Limited, Annual General Meeting, May 15, 2025. Location: at the mint, 10 macquarie street, sydney Australia Tillkännagivande • Feb 25
Ampol Limited Announces Ordinary Dividend for the Six Months Ended December 31, 2024, Payable on April 3, 2025 Ampol Limited announced Ordinary Dividend for the six months Ended December 31, 2024, Payable on April 3, 2025. For the period, the company reported ordinary fully paid dividend of AUD 0.05000000 per share with record date of March 10, 2025 and ex-date of March 7, 2025. Tillkännagivande • Jan 20
Ampol Limited Announces Board Appointments, Effective 1 March 2025 Ampol Limited announced that Ms Helen Nash and Mr. Stephen Pearce will join the Ampol Board as Independent Non-Executive Directors, effective 1 March 2025. Helen has had a marketing career spanning more than 20 years and three industries: consumer packaged goods, publishing and media, and quick service restaurants. Helen was Senior Vice President and Chief Marketing
Officer for McDonald's Australia and New Zealand, before taking on strategic, commercial and operational responsibility for the business as Chief Operating Officer for McDonald's Australia. Helen is currently Chair of Inghams Group Limited and a Non-Executive Director of Metcash Limited. She was formerly a Non-Executive Director of Southern Cross Media Group Limited, Blackmores Limited and Pacific Brands Limited. She is a Member of the Australian Institute of Company Directors. Stephen has over 30 years of financial and commercial experience in the mining, oil and gas, and utilities industries, and more than 20 years' experience as a director of public companies. He has held a range of leadership roles including Finance Director of Anglo American plc, a position he held for over six years. He previously served as CFO, and as an executive director, of Fortescue Metals Group Limited from 2010 to 2016. Stephen is currently a Non-Executive Director of BAE Systems, South32 and Wyllie Group. He is a Fellow of the Institute of Chartered Accountants, a Fellow of the Governance Institute of Australia and a Member of the Australian Institute of Company Directors. Board Change • Dec 24
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Simon Allen was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Dec 18
Ampol Limited Appoints Guy Templeton as Independent Non-Executive Director, Effective 1 January 2025 Ampol Limited announces that Mr. Guy Templeton will join the Ampol Board as an Independent Non-Executive Director, effective 1 January 2025. Guy brings to the Board over 35 years of engineering, commercial, and business leadership experience and is a Chartered Professional Engineer. Guy was most recently CEO Asia Pacific at WSP, a global engineering and environmental firm. Previously, he was CEO and Managing Partner of MinterEllison and a Managing Partner of PA Consulting, where he advised on strategy, acquisitions, technology and operational improvement across more than 25 countries. He is an Honorary Member of the Business Council of Australia, where he chairs the Infrastructure, Transport and Planning Committee, and serves on the Finance Committee of the University of Technology Sydney. He holds a Bachelor of Engineering from the University of New South Wales, a Master of Business Administration from the University of Technology Sydney, and has completed the Advanced Management Program at INSEAD. He is a Fellow of the Academy of Technological Sciences and Engineering, the Australian Institute of Company Directors, and Engineers Australia. Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Simon Allen was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Aug 21
Ampol Limited Declares Fully Franked Interim Dividend for the First Half of 2024, Payable on 26 September 2024 The Board of Ampol Limited declared a fully franked interim dividend of 60 cents per share, which represents a 61% payout ratio of first half of 2024 RCOP NPAT (Attributable to Parent) - excluding significant items. The record and payment dates for the interim dividend are 2 September 2024 and 26 September 2024 respectively. Reported Earnings • Aug 20
First half 2024 earnings released: EPS: AU$0.99 (vs AU$0.33 in 1H 2023) First half 2024 results: EPS: AU$0.99 (up from AU$0.33 in 1H 2023). Revenue: AU$18.2b (down 1.1% from 1H 2023). Net income: AU$235.2m (up 197% from 1H 2023). Profit margin: 1.3% (up from 0.4% in 1H 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Oil and Gas industry in Australia. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jun 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to AU$33.27. The fair value is estimated to be AU$41.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings are also forecast to grow by 8.8% per annum over the same time period. Upcoming Dividend • Feb 23
Upcoming dividend of AU$1.80 per share Eligible shareholders must have bought the stock before 01 March 2024. Payment date: 27 March 2024. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 7.1%. Within top quartile of Australian dividend payers (6.6%). Lower than average of industry peers (9.3%). Declared Dividend • Feb 21
Final dividend of AU$1.80 announced Shareholders will receive a dividend of AU$1.80. Ex-date: 1st March 2024 Payment date: 27th March 2024 Dividend yield will be 7.3%, which is lower than the industry average of 8.8%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio). However, it is covered by cash flows (69% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.7% to bring the payout ratio under control. EPS is expected to grow by 28% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Feb 19
Full year 2023 earnings released: EPS: AU$2.30 (vs AU$3.05 in FY 2022) Full year 2023 results: EPS: AU$2.30 (down from AU$3.05 in FY 2022). Revenue: AU$37.7b (down 1.9% from FY 2022). Net income: AU$549.1m (down 25% from FY 2022). Profit margin: 1.5% (down from 1.9% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Oil and Gas industry in Australia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 02
Now 20% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be AU$45.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.2% per annum. Earnings is forecast to grow by 21% per annum over the same time period. Buying Opportunity • Oct 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.5%. The fair value is estimated to be AU$40.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.4% per annum. Earnings is forecast to grow by 24% per annum over the same time period. Buying Opportunity • Sep 29
Now 20% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be AU$42.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.5% per annum. Earnings is forecast to grow by 27% per annum over the same time period. Buying Opportunity • Sep 12
Now 20% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be AU$42.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.5% per annum. Earnings is forecast to grow by 27% per annum over the same time period. Upcoming Dividend • Aug 25
Upcoming dividend of AU$0.95 per share at 6.7% yield Eligible shareholders must have bought the stock before 01 September 2023. Payment date: 27 September 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.7%. Lower than top quartile of Australian dividend payers (7.1%). Lower than average of industry peers (10%). Reported Earnings • Aug 22
First half 2023 earnings released: EPS: AU$0.33 (vs AU$2.84 in 1H 2022) First half 2023 results: EPS: AU$0.33 (down from AU$2.84 in 1H 2022). Revenue: AU$18.4b (up 6.4% from 1H 2022). Net income: AU$79.1m (down 88% from 1H 2022). Profit margin: 0.4% (down from 3.9% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 1.6% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Oil and Gas industry in Australia. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Aug 21
Ampol Limited Declares Interim Ordinary Dividend Fully Franked for the Half Year Ended 30 June 2023, Payable on September 27, 2023 The Board of Ampol Limited has declared an interim ordinary dividend of 95 cents per share, fully franked for the half year ended 30 June 2023. This compares to Ampol's 2022 interim fully franked dividend of 120 cents per share. Record date is September 4, 2023. Payment date is September 27, 2023. Tillkännagivande • Jul 08
Ampol Reportedly Taps UBS for its Drive to Secure Rival 7-Eleven Convenience Chain Ampol Limited (ASX:ALD) is understood to have hired investment bank UBS for a tilt at its $2 billion rival 7-Eleven, Inc., which is up for sale through Azure Capital. Azure is understood to have received first-round bids for 7-Eleven, and sources have said UBS had been working on an offer for a strategic player, believed to be Ampol, in the lead-up. Ampol most recently worked with investment bank Macquarie Capital in 2021, when it purchased Z Energy, which was advised at the time by Goldman Sachs. Bids have now landed for the business that has been spitting off large amounts of cash - it generated about $220 million of annual earnings before interest, tax, depreciation and amortisation in the past year. The contest for the convenience retailer owned by the Withers and Barlow families was expected to be dominated by strategic players, as private equity firms are said to be sidestepping the sale process due to the high cost of debt and the company's exposure to the oil refining and tobacco industry. Tillkännagivande • Jun 19
Ampol Limited Announces Management Changes The Board of Ampol Limited has appointed Yvonne Chong as Additional Company Secretary of Ampol with effect from 19 June 2023. Yvonne Chong is also appointed as a person responsible for communications with ASX under Listing Rule 12.6. Yvonne Chong reports to Faith Taylor, who is the Executive General Manager, Group General Counsel, Regulation & Company Secretary at Ampol Limited. Faith Taylor remains as a Company Secretary of Ampol and as a person responsible for communications with ASX under Listing Rule 12.6. Tillkännagivande • Jun 10
Ampol Limited announced that it expects to receive AUD 600 million in funding Ampol Limited announced that it will issue senior unsecured non convertible notes for the gross proceeds of AUD 600,000,000 on June 8, 2023. The Notes will be issued in a mix of USD and AUD denominated tranches. The notes will have tenors ranging from 8.5 to 15 years with a weighted average tenor of 11 years and interest rates reflecting a weighted average margin of 2.1% over the applicable US Treasury yields. The transaction is expected to close in September 2023, subject to customary conditions. Recent Insider Transactions • Mar 01
Independent Non-Executive Director recently bought AU$65k worth of stock On the 22nd of February, Elizabeth Donaghey bought around 2k shares on-market at roughly AU$32.25 per share. This transaction amounted to 63% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$316k more in shares than they have sold in the last 12 months. Upcoming Dividend • Feb 24
Upcoming dividend of AU$1.55 per share at 6.8% yield Eligible shareholders must have bought the stock before 03 March 2023. Payment date: 30 March 2023. Payout ratio is a comfortable 74% and the cash payout ratio is 76%. Trailing yield: 6.8%. Lower than top quartile of Australian dividend payers (6.9%). Lower than average of industry peers (7.9%). Reported Earnings • Feb 20
Full year 2022 earnings released: EPS: AU$3.05 (vs AU$2.34 in FY 2021) Full year 2022 results: EPS: AU$3.05 (up from AU$2.34 in FY 2021). Revenue: AU$38.5b (up 78% from FY 2021). Net income: AU$727.5m (up 30% from FY 2021). Profit margin: 1.9% (down from 2.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 4.5% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Simon Allen was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 10
Independent Non-Executive Chairman recently bought AU$110k worth of stock On the 3rd of November, Steven Gregg bought around 4k shares on-market at roughly AU$27.50 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Steven's only on-market trade for the last 12 months. Board Change • Nov 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Simon Allen was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Simon Allen was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Sep 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.2%. The fair value is estimated to be AU$39.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has grown by 53%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings is forecast to decline by 12% per annum over the same time period. Upcoming Dividend • Aug 26
Upcoming dividend of AU$1.20 per share Eligible shareholders must have bought the stock before 02 September 2022. Payment date: 28 September 2022. Payout ratio is a comfortable 41% and the cash payout ratio is 84%. Trailing yield: 2.7%. Lower than top quartile of Australian dividend payers (6.4%). Lower than average of industry peers (5.0%). Reported Earnings • Aug 22
First half 2022 earnings released: EPS: AU$2.84 (vs AU$1.36 in 1H 2021) First half 2022 results: EPS: AU$2.84 (up from AU$1.36 in 1H 2021). Revenue: AU$17.3b (up 77% from 1H 2021). Net income: AU$676.2m (up 108% from 1H 2021). Profit margin: 3.9% (up from 3.3% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 30%, compared to a 70% growth forecast for the Oil and Gas industry in Australia. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Tillkännagivande • May 06
Ampol Reportedly in Advanced Talks for Sale of Z Energy Sites Ampol Limited (ASX:ALD) is in advanced talks for a sale of Z Energy Limited (NZSE:ZEL) sites with a party that is believed to be New Zealand property syndicator Willis Bond. Ampol launched a NZD 2 billion buyout for Australia and New Zealand-listed Z Energy last year that will complete on May 10. Z Energy has about 481 total network sites in New Zealand. It is understood the talks relate to about 50 sites worth about NZD 140 million ($126 million). Recent Insider Transactions • Apr 12
Independent Non-Executive Director recently bought AU$51k worth of stock On the 11th of April, Elizabeth Donaghey bought around 2k shares on-market at roughly AU$31.58 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$199k more in shares than they have sold in the last 12 months. Tillkännagivande • Apr 01
Ampol Limited Announces Resolution of Legal Dispute Between Ampol and EG Ampol Limited announced that Ampol and EG have resolved the dispute relating to the Fuel Supply Agreement that was novated from Woolworths to EG in 2019. Ampol welcomes the resolution of the dispute to the mutual benefit of both parties. In reaching agreement between the parties: Ampol will be the exclusive supplier to all stores within the EG Australian network under the Fuel Supply Agreement, with no material impact to Ampol's earnings. EG will discontinue its Federal Court proceedings against Ampol Limited and Ampol will discontinue its cross-claims against EG. EG will provide Ampol access to their network to allow works to convert their sites to the iconic Ampol brand to commence and complete by the end of the year. Upcoming Dividend • Feb 25
Upcoming dividend of AU$0.41 per share Eligible shareholders must have bought the stock before 04 March 2022. Payment date: 31 March 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Australian dividend payers (5.6%). Lower than average of industry peers (4.0%). Reported Earnings • Feb 23
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: AU$2.34 (up from AU$1.94 loss in FY 2020). Revenue: AU$21.6b (up 40% from FY 2020). Net income: AU$560.0m (up AU$1.04b from FY 2020). Profit margin: 2.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 6.9%. Over the next year, revenue is forecast to grow 21%, compared to a 29% growth forecast for the oil industry in Australia. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 21
Ampol Limited Announces Fully Franked Final Dividend for the six months ended 31 December 2021, Payable on 31 March 2022 Ampol Limited announced fully franked ordinary fully paid final dividend of AUD 0.41000000 per share for the six months ended 31 December 2021. Record date for determining entitlement to 2021 final dividend: 7 March 2022. Payment date for the 2021 final dividend: 31 March 2022. Ex Date: 4 March 2022. Tillkännagivande • Dec 01
Charter Hall Retail Real Estate Investment Trust (ASX:CQR) agreed to acquire Portfolio of 20 core freehold convenience retail sites from Ampol Limited (ASX:ALD) for AUD 50.5 million. Charter Hall Retail Real Estate Investment Trust (ASX:CQR) agreed to acquire Portfolio of 20 core freehold convenience retail sites from Ampol Limited (ASX:ALD) for AUD 50.5 million December 1, 2021. The transaction will be funded from existing debt facilities and is expected to settle in February 2022. The net proceeds will be used for general corporate purposes and in line with Ampol’s Capital Allocation Framework, which may include partly funding the acquisition of Z Energy Limited. Upcoming Dividend • Aug 27
Upcoming dividend of AU$0.52 per share Eligible shareholders must have bought the stock before 03 September 2021. Payment date: 23 September 2021. Trailing yield: 2.7%. Lower than top quartile of Australian dividend payers (5.0%). In line with average of industry peers (2.5%). Reported Earnings • Aug 26
First half 2021 earnings released: EPS AU$1.36 (vs AU$2.48 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$9.82b (up 22% from 1H 2020). Net income: AU$325.5m (up AU$951.7m from 1H 2020). Profit margin: 3.3% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Aug 26
CEO, MD & Director recently bought AU$100k worth of stock On the 24th of August, Matthew Halliday bought around 4k shares on-market at roughly AU$27.16 per share. This was the largest purchase by an insider in the last 3 months. This was Matthew's only on-market trade for the last 12 months. Tillkännagivande • Aug 25
Ampol Limited (ASX:ALD) submitted a non-binding indicative proposal to acquire Z Energy Limited (NZSE:ZEL) for approximately NZD 2 billion. Ampol Limited (ASX:ALD) submitted a non-binding indicative proposal to acquire Z Energy Limited (NZSE:ZEL) for approximately NZD 2 billion on June 2, 2021. Under the terms of transaction, Ampol made a proposal to acquire all share of Z Energy at an offer price of NZD 3.78 per share. The Proposal would be implemented by way of a scheme of arrangement, a court supervised process under which a meeting of shareholders would be held to vote on the transaction. In addition to the Offer Price, Ampol’s Proposal includes a dividend adjustment mechanism which permits Z Energy to pay a dividend equal to NZD 0.00055 per share per calendar day, for each day that the transaction extends beyond March 31, 2022, up to a limit of NZD 0.1 per share. Subject to further discussions with Z Energy, Ampol is also willing to consider an amendment to the current Proposal to include partial Ampol share consideration. Ampol's Proposal follows a period of private discussions which included an initial non-binding indicative proposal of NZD 3.35 per share being submitted on 2 June 2021, with a subsequent proposal of NZD 3.50 per share submitted on 1 July 2021. Ampol intends to fund the acquisition in accordance with its Capital Allocation Framework, which would include new debt facilities, proceeds from any divestments, and an equity issuance in the order of AUD 600 million (NZD 627.612 million). The equity issuance could be in the form of partial share consideration to Z Energy shareholders or Ampol conducting a pro rata entitlement offer to its own shareholders, which would be done following regulatory approval and nearer the date of completion. The Z Energy Board has stated that it is in its shareholders’ best interests to grant Ampol a four-week period of exclusivity for it to undertake confirmatory due diligence enquiries and to agree terms on a Scheme Implementation Agreement.
The transaction is subject to customary closing conditions, including agreeing the binding transaction documentation, Board approval by both Z and Ampol, Z shareholder approval, High Court approval, approval by both the New Zealand Commerce Commission and the New Zealand Overseas Investment Office, due diligence and other required regulatory approvals. As part of the New Zealand Commerce Act clearance process, Ampol intends committing to a material divestment to ensure any potential competition law issues are fully addressed as a result of transaction. The transaction would be conditional on obtaining clearance, which would be based on the divestment undertaking (to be agreed with the New Zealand Commerce Commission). It is expected that divestments would occur within a prescribed period of time following completion of the transaction. Ampol is willing to work with Z Energy and relevant regulatory authorities, including Overseas Investment Office, and is confident in its ability to receive required approvals. On receipt of Ampol’s original proposal the Z Board formed a subcommittee to manage the process and retained Goldman Sachs as financial adviser and Chapman Tripp as external legal counsel. Tony Damian of Herbert Smith Freehills and Bell Gully acted as a legal advisor to Ampol Limited. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.13 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.13 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 04
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 03
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 03
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 03
Interim Chief Financial Officer Jeffrey Etherington has left the company During their tenure, earnings grew by 22,983% annually compared to the industry average, which went down by 4.5%. On the 1st of July, Jeffrey Etherington left the company after 1.3 in the role. As of March 2021, Jeffrey still personally held 4.71k shares (AU$104k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • May 20
Independent Non-Executive Director has left the company On the 13th of May, Barbara Ward's tenure as Independent Non-Executive Director ended after 6.1 years in the role. As of March 2021, Barbara personally held 6.50k shares (AU$143k worth at the time). Barbara is the only executive to leave the company over the last 12 months. Recent Insider Transactions • Mar 20
Independent Non-Executive Chairman recently bought AU$236k worth of stock On the 15th of March, Steven Gregg bought around 10k shares on-market at roughly AU$23.62 per share. This was the largest purchase by an insider in the last 3 months. This was Steven's only on-market trade for the last 12 months. Recent Insider Transactions • Mar 03
Independent Non-Executive Director recently bought AU$201k worth of stock On the 24th of February, Michael Ihlein bought around 8k shares on-market at roughly AU$25.99 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$383k more in shares than they have sold in the last 12 months. Tillkännagivande • Feb 26
Ampol Limited Announces Change of Company Secretary Ampol Limited announced the appointment of Mr. Michael Abbott as Company Secretary with effect from 26 February 2021. Mr. Abbott will be the person responsible for communications with the ASX under Listing Rule 12.6. Mr. Abbott replaces Georgina Koch who resigns as Company Secretary effective 26 February 2021. Upcoming Dividend • Feb 26
Upcoming Dividend of AU$0.23 Per Share Will be paid on the 1st of April to those who are registered shareholders by the 5th of March. The trailing yield of 1.9% is below the top quartile of Australian dividend payers (5.2%), and is lower than industry peers (2.3%). Analyst Estimate Surprise Post Earnings • Feb 24
Revenue misses expectations Revenue missed analyst estimates by 15%. Over the next year, revenue is forecast to grow 29%, compared to a 58% growth forecast for the Oil and Gas industry in Australia. Is New 90 Day High Low • Feb 23
New 90-day low: AU$25.71 The company is down 18% from its price of AU$31.22 on 25 November 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$32.03 per share. Reported Earnings • Feb 22
Full year 2020 earnings released: AU$1.94 loss per share (vs AU$1.51 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: AU$15.4b (down 31% from FY 2019). Net loss: AU$484.9m (down 227% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 90% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 18
New 90-day high: AU$28.60 The company is up 3.0% from its price of AU$27.88 on 20 August 2020. The Australian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$22.55 per share. Is New 90 Day High Low • Oct 04
New 90-day low: AU$22.91 The company is down 19% from its price of AU$28.25 on 06 July 2020. The Australian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is down 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$22.71 per share. Tillkännagivande • Sep 28
Ampol Limited Announces Executive Changes Ampol Limited announced that Chief Commercial Officer, Louise Warner, has resigned and indicated her intention to take up an executive position with Alimentation Couche-Tard Inc. Louise will serve a six-month period of gardening leave prior to commencing her new role in North America. Brent Merrick, currently General Manager, Trading and Shipping, based in Singapore, has been promoted to the role of Executive General Manager - Commercial, based in Sydney, and will join the Ampol Leadership Team. Brent will have responsibility for Trading and Shipping, B2B Sales, Supply and Commercial optimisation across the value chain. He will also assume responsibility for building future energy solutions for customers. Brent's appointment will take effect immediately. Brent will work closely with Andrew Brewer, Executive General Manager - Infrastructure. Andrew Brewer will rejoin Ampol in December 2020 from his current role with Refining NZ, with responsibility for operations and optimisation of the Fuels and Infrastructure asset base. At this critical time in industry, the depth of Andrew's leadership and downstream capability will be invaluable to ensure Ampol continues to operate safely, reliably and efficiently. Joanne Taylor, Executive General Manager, Retail, Brand and Culture, will expand her current role and take on responsibility for the management of the Gull New Zealand business and the Ampol rebrand across the organisation. 