ANU yet to make good on Metgasco stock sale promise

ONE of Australia's most prestigious universities, which is a top 20 shareholder in coal seam gas company Metgasco, says it is still planning to sell its shares in the company, more than a year after promising to do so.

The Australian National University holds 2.5 million shares in Metgasco.

In October 2011, the university promised to sell the stock, but has since failed to do so.While the stock does not represent any untoward investment behaviour by the university, it has grated on students who oppose the practise of coal seam gas extraction.

The issue has sparked a Freedom of Information application from a university students group called the ANU Environment Collective, which wants to see the stock sold.

A statement from the university released on Thursday said the ANU was still planning to sell down its shareholding in the CSG company, but there were "few potential buyers" of the stock.

This is despite at least one new issue of Metgasco stock since the university promised to sell its shares.

Those stock issues led to the ANU's share in the company being diluted from an original holding of about 1% of the company to its current 0.6% shareholding.

The stock represents a very minor part of the university's overall investment holdings, which are controlled by a rigorous financial committee led by former Australian Competition and Consumer Commission head Graeme Samuel.

Topics:  anu, csg, metgasco, stockmarket



Local Real Estate

Featured Real Estate
READY & REARING FOR... Offers above...
Residential Land Surrounded by designer homes, this final remaining block in Heathwood Place offers ...
Blue Chip Acreage Living... offers over...
4 2 2
FIRST HOME / INVESTMENT?... OFFERS OVER...
House 3 1 1
WHEN SIZE MATTERS!!! $549,000 neg
House 4 2 8
THE TOTAL PACKAGE!!!! $499,000 Neg
House 5 2 2
It's yours for under... $190,000
House 2 1 2
“What a Perfect... $349,990...
House 3 2 2
ABSOLUTE"" PALATIAL... 595,000
House 5 3 2

Featured Jobs

finda logo

Ipswich jobs listed daily

Featured Jobs
GENERAL MANAGER ... Gladstone Full Time $120 - $150
SHORT ORDER COOK Walloon Casual
Team Leader Ipswich Full Time
Plant Operators Toowoomba Full Time
EMPLOYMENT... St George Full Time
YOUTH WORKERS Toowoomba Full Time
IPSWICH STATE HIGH... Ipswich Full Time


Local Partners

LATEST DEALS AND OFFERS

Job Listings

Search for your next job now.
Learn More

Cars For Sale

Find cars for sale online now.
Learn More

Property Listings

Search for a property online right now.
Learn More

Local Profile

Stay Connected

Get the news as it happens, in your inbox

You can change the newsletters you are subscribed to when you edit your profile

Edit Profile


Special Offers

Latest deals and offers

View today's ePaper!

Read the digital edition
Learn More

Horoscopes

Virgo

You may feel that the foundation on which your goals and ideas are built is a little shaky. When your confidence is wavering, try looking to...

read more

Marketplace

Special Offers & Promotions

Compare & Save