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DANAKALI LIMITED (DNK)

Click here for free access to this company's:
ASX, Legal & CGT Status

Former (or subsequent) names

 FROMTO
DANAKALI LIMITED03/06/2015
SOUTH BOULDER MINES LTD03/06/2015

Shareholder links

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

 

REGISTRY:

Computershare Brisbane
Level 1, 200 Mary Street Brisbane QLD 4000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 7 3229 9860
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000DNK9
Address: Level 1, 2A / 300 Fitzgerald Street North Perth WA 6006
Tel:  +61 (0) 8 6266 8368Fax: (08) 9486 7093

Date first listed: 17/10/2003

Sector: Materials Industry Group: XMJ
Activities: Potash Exploration and Development

News & Events

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The company releases the results of its meeting.

31/05/2024

The company releases its Annual General Meeting Chairman's Address.

31/05/2024

The company is releasing an addendum to its Notice of Annual General Meeting which will be held on 31 May 2024 at 10:00am (AWST) at Suite 1, Level 14, 221 St Georges Terrace, Perth, WA 6000. The addendum adds an additional conditional resolution, Additional Resolution 5: Conditional Spill Resolution, which was omitted from the original Notice of Meeting. The terms used in this addendum have the same meaning as those in the original Notice of Meeting.

15/05/2024

The Annual General Meeting will be held at 10:00am (AWST) on Friday 31 May 2024 at Suite 1, Level 14, 221 St Georges Terrace, Perth, WA 6000.

02/05/2024

The company releases its Quarterly Activities Report and Appendix 5B.

29/04/2024

The company releases a notification of cash return of capital.

24/04/2024

The company releases a notification of dividend/distribution.

24/04/2024

Additional 2 cents per share distribution following 42 cps return in January 2024. Blend of special dividend and capital return, total distribution of approximately $7.4 million. Board continues to explore additional initiatives ahead of re-listing on the ASX.

24/04/2024

The company releases its Corporate Governance Statement.

28/03/2024

The company releases its Appendix 4G.

28/03/2024

The company lodges its 2023 Annual Financial Report.

28/03/2024

The Company anticipates that it will hold its next Annual General Meeting no later than 31 May 2024. The closing date for the receipt of nominations from persons wishing to be considered for election as a director is 8 March 2024. Any nominations must be received in writing by no later than 5:00pm (WST) on 8 March 2024 at the Company's registered office.

01/03/2024

The ATO has published a Class Ruling (CR 2024/8) in relation to Danakali's: Capital Return of 27.3 cents per share; and Special dividend of 14.7 cents per share. On the basis the Special Divided is unfranked and declared to be conduit foreign income: Australian tax resident shareholders will include the Special Dividend as assessable income; and For non-Australian resident Shareholders, the Special Dividend will be non-assessable nonexempt income (i.e., not included as assessable income) and is not subject to Australian dividend withholding tax; and No part of the Capital Return will be assessable as a dividend for Australian taxation purposes.

15/02/2024

The company lodges its Quarterly Activities Report and Appendix 5B.

25/01/2024

The exercise price of each Company option on issue has been reduced by the same amount as the amount returned in relation to each fully paid ordinary share in the Company under the return of capital. Unlisted options expiring 30 July 2025: 10,000,000; $0.273, $0.640 (original exercise price), $0.367 (adjusted exercise price).

19/01/2024

Danakali has become aware of unauthorised, predatory activity by parties seeking to acquire Danakali shares off-market at prices far below actual cash backing per share of the Company. Danakali has received reports of offers as low at one cent per share, which compares to the current cash backing of approximately 10.5 cents per share "“ or, less than 10% of the underlying cash value of the shares. Danakali advises all shareholders to take independent professional advice if they receive any approaches to sell their Danakali shares.

19/01/2024

Danakali Board exploring new liquidity options for shareholders. Potential for further distributions as capital returns and/or share buybacks. Cash backing of Danakali shares post-Colluli of 10.5 cents per share. Danakali moves forward with new project development in Eritrea.

18/01/2024

On 24 November 2023, shareholders of Danakali Limited voted overwhelmingly in favour of the distribution, which paved the way for the A$154.7 million distribution to investors which was initiated on 8 January 2024. The majority of shareholders have received their distribution, however there are a number of shareholders who have not updated their payment information with Computershare therefore have not received payment. A second payment run was made on 12 January 2024 for shareholders who updated their details. The upcoming scheduled payment runs for making distribution payments to DNK holders are as follows: Third payment "“ 22 January 2024 (details must be updated by COB 17 January 2024); Fourth payment "“ 29 January 2024; Fifth payment "“ 9 February 2024; Thereafter, payment runs will move to a monthly payment cycle.

16/01/2024

The company refers to the upcoming payment of a special dividend (14.7 cents) and return of capital (27.3 cents) for a combined total payment of 42 cents per share on ordinary shares registered at the record date of 2 January 2024. As previously advised, the payment date will be 8 January 2024. All shareholders are reminded to update their: email address, tax file number or Australian Business Number (if applicable); and banking details.

21/12/2023

The company releases a notification of cessation of securities.

30/11/2023

The company releases the results of its meeting.

24/11/2023

The company lodges its Quarterly Activities Report and Appendix 5B.

27/10/2023

The company's General Meeting will be held at 2:00pm (AWST) on Friday 24 November 2023 at The Celtic Club, 48 Ord Street, West Perth, Western Australia.

23/10/2023

42 cents per share return to shareholders from proceeds of interest in Colluli Potash Project. Proposes 27.3 cents per share capital return, the balancing 14.7 cents per share being an unfranked dividend. Total return to shareholders of $154.7 million. Australian Taxation Office class ruling process underpinning the distribution mix substantially progressed although awaiting binding ATO Ruling. Shareholder meeting to approve capital return component on 24 November 2023. Distribution to shareholders scheduled for 8 January 2024.

23/10/2023

The company releases a Return of Capital notice.

23/10/2023

The company releases a dividend/distribution notice.

23/10/2023

The company has received the US$16 million second tranche payment from the sale of its interest in the Colluli Potash Project in Eritrea to Sichuan Road and Bridge Group. he Tranche 2 payment brings total proceeds from the Colluli sale to US$121 million. Net proceeds from the transaction in Australian dollars before any FX adjustment amounted to A$173 million. Danakali has completed the handover of Colluli to SRBG under a short-term consultancy agreement. Any further consulting work on the project by Danakali personnel in further optimising the project will be on standard commercial terms. A meeting of Danakali shareholders will be called shortly to approve the distribution of returns to shareholders of approximately 90% of the net returns from the Colluli sale.

29/09/2023

Final settlement on the sale of the Colluli Potash project remains on track, with the balance of approximately US$16 million (Tranche 2) due to be received from SRBG on 30 September 2023. Danakali has completed the handover of Colluli to SRBG, though Company personnel continue to provide consulting support to the new technical team as they progress the project. The ATO has reviewed the Company's class ruling request. Once there is confirmation from ATO that there are no further queries in relation to the class ruling, the Company will call an EGM to approve the distribution. The Company is currently undertaking technical due diligence and engaging in commercial negotiations on a number of highly prospective exploration opportunities. The company is in advanced negotiations. The suspension of the Company's securities will continue until Danakali demonstrates compliance with Listing Rule 12.1 of the listing rules, which relates to continuing business activities.

04/09/2023

The company lodges its Half Yearly Report and Accounts.

10/08/2023

The company lodges its Quarterly Activities Report and Appendix 5B.

20/07/2023

The company releases a notification of cessation of securities.

10/07/2023

Hall Chadwick WA Audit has been appointed as auditor of the Company with effect from 31 May 2023. This appointment follows the receipt of shareholder approval at the Company's annual general meeting held on 31 May 2023 and ASIC's consent to the resignation of Ernst and Young as auditors of the Company.

13/06/2023

The company releases the results of its AGM.

31/05/2023

Danakali remains committed to distributing 90% of the Colluli proceeds. Distribution expected to be a blend of capital return and unfranked dividends (indicative). Further tax advice being sought on distribution in the most tax effective manner for shareholders. Timing of distribution is dependent on tax advice, but expected in Q1 FY24. Second tranche for the Colluli sale remains due on 30 September 2023. Continuing to assess new project opportunities. Reduction in corporate costs, overheads.

25/05/2023

The company hasrequestedto terminateits American Depositary Receipts (ADRs)with The Bank of New York Mellon (BNYM) on 10 May 2023. ADRs represent 5,171,955 shares, or 1.4% of the total number of ordinary shares on issue.

16/05/2023

The company has received a letter from a substantial shareholder urging changes to the Company's strategy in relation to distributing proceeds from the sale of the Colluli Potash Project. The shareholder concerned is a listed investment company called NGE Capital Limited, which holds 20 million Danakali shares representing 5.43% of the Company's share register. NGE wants: Danakali to return 100% of capital from the Colluli sale to shareholders; and the Company to be liquidated. The Board of Danakali has reviewed NGE's letter, as it would any correspondence from shareholders, and concluded there is no reason to divert from the Company's existing, long-standing and consistent strategy in relation to the proceeds from the Colluli sale. The first tranche of US$105 million was paid in March 2023 and a further US$16 million second tranche payment is due at the end of September 2023. Danakali has committed to making the shareholder distributions as quickly as possible and in the most tax effective form for shareholders. Beyond the distribution, Danakali continues to assess new project opportunities, and expects to make further announcements in coming months.

12/05/2023

The Annual General Meeting will be held at 10:00am (AWST) on Wednesday 31 May 2023 at The Celtic Club, Presidents Room, 48 Ord Street, West Perth, Western Australia.

28/04/2023

The company lodges its Quarterly Activities Report and Appendix 5B.

28/04/2023

The securities of Danakali Limited will be suspended from quotation at the close of trading today, 3 April 2023 under Listing Rule 17.3. ASX has determined that DNK's operations are not adequate to warrant the continued quotation of its securities and therefore is in breach of Listing Rule 12.1. The suspension will continue until DNK is able to demonstrate compliance with Listing Rule 12.1 of the Listing Rules.

03/04/2023

The suspension of trading in the securities of Danakali Limited will be lifted immediately following the release by DNK of an announcement regarding completion of the sale of its interest in the Colluli Project.

31/03/2023

The sale of DNK's 50% shareholding in CMSC to Sichuan Road and Bridge Group Co., Ltd completed on 31March 2023, well ahead of schedule. Net of all government taxes,DNK will receiveUS$121 million in 2 Tranches: Tranche 1 amounting to US$105 million (AUD$156 million) has been received. Tranche 2 amounting to US$16 million will be received 6 months from completion. DNK currently plans to distribute approximately 90% of the net proceeds to DNK shareholders. DNK will continue to identify new projects and potential new alternative growth opportunities. Danakali's securities will be suspended from official quotation from close of market on Monday 3 April 2023.

31/03/2023

Danakali anticipates that the voluntary suspension will be lifted on the earlier of 3:00pm (AEST) on 31 March 2023 or when the announcement regarding completion of the sale of its interest in the Colluli Project is released.

31/03/2023

The securities of Danakali Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of DNK, pending the release of an announcement in relation to completion of the sale of its interest in the Colluli Project.

30/03/2023

name changed from South Boulder Mines Limited

03/06/2015

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    20/04/2022Seamus Cornelius100,000$0.291$29,120
    01/02/2022Seamus Cornelius150,000$0.337$50,479
    12/05/2020Seamus Cornelius50,000$0.376$18,816
    04/05/2020Seamus Cornelius44,603$0.370$16,498
    20/02/2020Seamus Cornelius14,870$0.576$8,564

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Seamus CorneliusExecutive Chairman15/07/2013
    McEachern RodCOO03/12/2020
    Greg MacPhersonCFO01/03/2022
    Jon CoatesIndependent Director24/04/2024
    Paul DonaldsonNon Exec Director29/11/2012
    Jing ZhangNon Exec Director17/06/2016
    Taiwo AdenijiNon Exec Director23/04/2020
    Melissa ChapmanCompany Secretary
    Catherine Grant-EdwardsCompany Secretary

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Samaila ZubairuNon Exec Director23/04/202015/06/2023
    Neil GregsonNon Exec Director03/08/202015/06/2023
    John FitzgeraldIndependent Director19/02/201511/10/2021
    Robert ConnochieNon Exec Director06/02/201701/09/2021
    Stuart TarrantCFO12/06/201713/04/2021
    Niels WageCEO25/03/201926/02/2021
    Andre LiebenbergNon Exec Director02/10/201703/08/2020
    Danny GoemanCEO21/12/201714/06/2018
    Liam CorneliusExecutive Director21/08/200117/11/2017
    Chris ElsCFO03/12/201512/06/2017
    Anthony KiernanNon Exec Director15/10/201206/02/2017
    Flavio GarofaloCFO01/02/201214/05/2014
    Chris GilchristNon Exec Director14/10/201115/04/2014
    Terry GrammerChairman, Non Exec Director16/10/200715/07/2013
    Lorry HughesManaging Director, CEO23/05/200801/02/2013
    Brian RearNon Exec Chairman14/08/200223/05/2008
    Lindsay CollessNon Exec Director, Company Secretary01/08/200110/05/2004

    Date of first appointment, title may have changed.