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LANDMARK WHITE LIMITED (LMW)

Listed on ASX ( $        )

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Our website ranking of LMW: rating 2
(2 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Registry Services Level 5 126 Phillip Street Sydney NSW 2000

Tel : +61 (2) 9698 5414
Fax : +61 8 9321 2337
RegistryWebsite RegistryEmail

Company details

Address: Level 6, 55 Clarence Street Sydney NSW 2000
Tel:  (02) 8823 6300 Fax: (02) 8823 6399

Date first listed: 05/12/2003
Company Secretary: John Wise
Sector: Real Estate Industry Group: XFJ
Activities: Valuation and property consultancy
The securities of LandMark White Limited will be reinstated to Official Quotation as from the commencement of trading today, Tuesday, 7 May 2019 following lodgement of its Half Year Financial Report for the half year ended 31 December 2018 and an announcement regarding the financial impact of the data breach incident originally announced on 5 February 2019.07/05/2019
The company has rectified all issues related to the cyber security incident, and subsequently implemented a system with significantly enhanced digital security measures and is working towards achieving ISO27001 certification in the medium term. LMW has been reinstated as a panel valuer by three of the four major banks and expects to be reinstated by the final one soon. Additionally, many other lenders have also reinstated LMW as a panel valuer. LMW estimates that this has resulted in a loss of revenue of approximately $5-6 million, with approximately a further $1 million of revenue likely to be lost between now and the date of full reinstatement by the remaining financial institutions and restoration of more normal revenues. In order to enable LMW to rebuild its cash reserves, the Board of LMW do not expect to declare a dividend for FY2019. Provided that LMW is reinstated to all key former clients, the board of LMW anticipates that FY2020 will see a return to more normal levels of revenue and profit and will provide further guidance to the market following the close of FY2019. The securities of LMW are expected to be reinstated to official quotation as from the commencement of trading on Tuesday 7 May 2019. 06/05/2019
The company lodges its Half Year Accounts.06/05/2019
The material terms of the acting CEO's contract of employment with LMW are as follows: fixe remuneration of $270,000 per anum; short-term incentive comprising discretionary, performance based, remuneration up to a maximum of $30,000 per annum. The acting CEO is not entitled to any long-term incentives or equity-based remuneration.06/05/2019
Following the reinstatement of Commonwealth Bank on 18 March 2019, LandMark White can now confirm Westpac has also reinstated effective 1 April 2019. LMW still requires reinstatement from a majority of our remaining banking clients before LMW can provide reasonable financial projections and hence request lifting of the ASX voluntary suspension. LMW would like to confirm to its shareholders that an advertisement in today's Australian Financial Review seeking Expressions of Interest for a "Property Services Business" does not relate to LMW. 04/04/2019
The company provides an update on the cyber incident. The vulnerability that was exploited resulting in the unauthorised release of data has been closed. The great majority of affected individuals have been assessed as being at a very low risk of harm. Affected parties have been informed and provided appropriate support. LMW's systems and security procedures have been enhanced in line with best practice industry standards. The Commonwealth Bank of Australia has reinstated LMW onto its residential valuation panel and it is anticipated that other lenders will follow. The voluntary trading suspension will remain in place for a further two to four weeks.18/03/2019
The company is not in a position to lodge the Appendix 4D (Half Year Report) and its Half Year Report for the period ended 31 December 2018 as required under Listing Rule 4.2A. LMW's securities will continue to be suspended until such time that the impacts of the data security incident can be reliably assessed and the Appendix 4D and Half Year Accounts are lodged with the ASX. 28/02/2019
The securities of LandMark White Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of LMW, pending the release of an announcement regarding the financial impact of the data breach incident originally announced on 5 February 2019.19/02/2019
listed entity carried for record purposes only01/07/2004

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    08/03/2018Glen White150,000 $0.600$90,000
    19/01/2018Brad Piltz16,955 $0.608$10,309
    11/01/2018Brad Piltz69,745 $0.613$42,744
    03/01/2018Brad Piltz51,000 $0.607$30,945
    01/12/2017Brad Piltz315,945 $0.633$200,004

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Keith PerrettNon Exec Chairman, Independent Director01/02/2018
    Timothy RabbittCEO15/03/2019
    John WiseCFO27/09/2016
    Stephen MaitlandNon Exec Director01/02/2018
    Brad PiltzNon Exec Director26/09/2002

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Chris CoonanCEO13/04/201612/03/2019
    Glen WhiteNon Exec Director26/09/200212/03/2019
    Frank HardimanNon Exec Director16/03/201112/03/2019
    Chris NichollDirector, CEO01/05/201421/03/2016
    John McCarthyChairman29/10/201401/12/2015
    Stuart GregoryNon Exec Chairman, Independent Director09/10/200325/11/2014

    Date of first appointment, title may have changed.