Origin Energy capital raising

Kym Sheehan

The Executive Remuneration Reporter

Origin Energy today announced a 4 for 7 fully underwritten pro rata renounceable entitlement offer priced at $4.00 per new share. It intends to use the $2.5 billion raised to immediately reduce debt. Today's announcement also indicates Origin Energy will embark on $2.2 billion of targeted cash preservation initiatives. These initiatives include dividend guidance for FY2016 and FY2017, a further $1 billion reduction in capital expenditure and working capital across FY2016 and FY2017, plus a target of $800 million in asset sales by FY2017. Its underlying EBITDA guidance for FY2016 and FY2017 should also be noted. From a remuneration perspective, Origin Energy is a nice illustration of when the STI scheme is mismatched with the time horizon of its investment cycle and earnings from these investments. Its 2015 AGM is on Wednesday 21 October 2015

1 stock mentioned

Kym Sheehan
Kym Sheehan
The Executive Remuneration Reporter

With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...


No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Please sign in to comment on this wire.

trending on livewire
Get the best of Livewire by signing up to our popular daily newsletter