Business

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



Mum told to shop around after school supplies rant

GET SORTED: Back to school supplies should not be left to the last minute.

Here's what you said on Facebook

LETTER: NZ treats seniors better than we do

Senior citizens are chased and penalised for their meagre savings.

Senior citizens are chased and penalised for their meagre savings.

Challenge mind in the third age

JOIN US: Eric Boel (left) and Geoff Mayhew set up shop for U3A Ipswich and West Moreton.

Make your retirement great by getting involved in community group

Local Partners

Mine halt after land caved in

JACK OF ALL TRADES: Harry Gee Stationer, News Agent, Picture Framer at North Ipswich.

Subsidence isolated residents

Jennifer Aniston wants to return to TV

Jennifer Aniston is desperate to make a return to TV

Madonna hopes for election unity

Madonna hopes Donald Trump's election will "bring people together"

JK Rowling rules out Cursed Child trilogy

JK Rowling has ruled out a 'Cursed Child' movie trilogy

Buckley's chance in psychological thriller

James McAvoy and Betty Buckley in a scene from the movie Split.

Broadway veteran back on big screen with James McAvoy

Daniel MacPherson: acting’s a bit like channel surfing

Australian actor Daniel MacPherson in a scene from the American TV series APB.

THE Aussie export talks about making his mark in the US.

Ipswich house prices looking up in "seller's market”

Region's median house price climbed 1.4% to $325,000 and the median unit price fell 13.8% to $235,000 in the September quarter.

Median house price climbs 1.4% to $325,000 as unit price falls 13.8%

By the water's edge

Secure your seachange

Work to be done before Hungry Jack's opens

Roadworks outside the Hungry Jack's restaurant at Brassall must be completed before it opens.

Ipswich residents will have to wait for their Whoppers

HOT PROPERTY: Money to spend on land, buildings

File picture.

Sale, leasing of industrial real estate picks up in Mackay

Collapsed Coast company could owe up to $5 million

Staff, ATO, landlords among those out of pocket.

Ready to SELL your property?

Post Your Ad Here!