ALL 0.70% $36.64 aristocrat leisure limited

finally something from the company

  1. 1,035 Posts.
    Aristocrat's comments came after being queried by the Australian
    Stock Exchange (ASX) over a near 19 per cent jump in its share
    price yesterday on renewed speculation its rivals could be eyeing
    it as a takeover target and that the company was nearing the end of
    an international search for a new chief executive.
    There were also some market rumours the group may be preparing
    to upgrade its earnings forecasts going forward.
    Aristocrat shares pulled back nine cents to end at $2.19 today
    after yesterday shooting up 36 cents or 18.75 per cent to $2.28 -
    their highest level since a shock profit warning in February sent
    them tumbling.
    "The company is not aware of any information concerning it which
    could explain yesterday's price movements," Aristocrat said in its
    response to the ASX query.
    "Specifically, an announcement about the appointment of a new
    chief executive officer is not imminent and the company has had no
    approaches concerning a possible takeover offer for the company and
    is not aware of any circumstances which would lead to an
    expectation of a bid."
    Aristocrat said it was not aware of any explanation for
    yesterday's trading other than the various rumours "apparently" in
    circulation and referred to in recent press reports.
    It added that the company was in compliance with ASX listing
    rules.
    Aristocrat chief executive Des Randall, chief financial officer
    Lionel Jeyaraj and chairman John Ducker stood down earlier this
    year after a string of profit warnings by the group.
    The gaming group posted a seven per cent slide in net profit to
    $80.2 million for calendar 2002 and in August recorded its first
    net loss since listing in 1996 but said it was confident looking
    forward.
    The embattled gaming company posted a first half 2003 net loss of
    $32.9 million, compared with a profit of $41.6 million in the same
    period last year.
    The group anticipated the loss in May following a series of
    profit warnings, expecting sluggish Australian sales because of
    smoking bans in Victorian gaming venues, a general economic
    downturn and a decline in tourism because of SARS and other global
    security concerns.
    Mr Randall is embroiled in legal proceedings with Aristocrat,
    claiming a severance package of around $12 million, while the group
    has countersued the former chief for $2.6 million.
    Acting chief executive David Creary confirmed in August he was
    in the running for the top job, saying Aristocrat's board was in
    the "final stages" of interviewing prospective candidates.

 
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