James Hardie's controversial merger sees Azek CEO granted $30m payout
The documents outline that the $US19.4 million ($30.1 million) payout will be made because Azek chief executive Jess Singh's role will become redundant if the merger is approved by shareholders in the United States next month.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
02-07-2025
- News.com.au
Top 10 at 11: ASX jumps on open as copper and battery metals rally
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. Resources drive early gains The ASX 200 has jumped 0.42% in the first half hour of trading, with 9 of 11 sectors making gains as of about 10:30 am AEST. The materials sector is leading the charge, building on momentum generated by a rally in lithium and battery metal stocks and a 5.9% jump in James Hardie (ASX:JHX) shares. The construction materials company completed its acquisition of NYSE-listed outdoor living business AZEK today, adding to its extensive portfolio of exterior design brands. Lithium, rare earth and copper stocks are making the biggest moves this morning, including several of the stocks on our small cap winners list… WINNERS Code Name Last % Change Volume Market Cap PKO Peako Limited 0.003 50% 120000 $2,975,484 EEL Enrg Elements Ltd 0.002 33% 792525 $4,880,668 IS3 I Synergy Group Ltd 0.002 33% 620409 $2,253,285 SRN Surefire Rescs NL 0.002 33% 1500000 $3,729,668 LAT Latitude 66 Limited 0.029 26% 10932 $3,298,216 ADG Adelong Gold Limited 0.005 25% 60000 $8,274,707 DY6 Dy6Metalsltd 0.145 23% 1246772 $8,749,344 HOR Horseshoe Metals Ltd 0.025 19% 670720 $14,070,141 BCA Black Canyon Limited 0.16 19% 405899 $17,502,844 ID8 Identitii Limited 0.007 17% 15000 $4,668,081 In the news... Horseshoe Metals (ASX:HOR) is preparing to fire up its direct shipping ore operations for the Horseshoe Lights copper-gold project in WA, after getting the greenlight from the DEMIRS. HOR expects to have boots on the ground within the next few weeks, with sales of existing copper stockpiles to begin shortly thereafter. It's perfect timing for the company, with the price of copper soaring more than 26% in the year to date to reach 10-year highs. Latitude 66 (ASX:LAT) is offloading its 17.5% interest in the Greater Duchess joint venture project, triggering a right of first refusal for JV partner Carnaby Resources (ASX:CNB). LAT is looking to sell its interest for $2m, with some conditional payments on the table of up to $4m in cash or ASX-listed shares. If the project is sold within 90 days of the sale and anyone can get their hands on 100% of the project interest, LAT will be $4m richer; if only a partial sale is made in that time, the company will earn 50% of any proceeds above $4m. LAGGARDS Code Name Last % Change Volume Market Cap AOA Ausmon Resorces 0.001 -50% 111800 $2,622,427 VHL Vitasora Health Ltd 0.03 -23% 3864299 $61,504,061 MMR Mec Resources 0.004 -20% 504034 $9,248,829 PIL Peppermint Inv Ltd 0.002 -20% 100000 $5,752,724 C29 C29Metalslimited 0.015 -17% 1772692 $3,135,388 CUS Coppersearchlimited 0.016 -16% 100593 $3,018,941 RDS Redstone Resources 0.003 -14% 150000 $3,619,936 RNX Renegade Exploration 0.0035 -13% 616666 $5,153,454 CPV Clearvue Technologie 0.14 -13% 368291 $42,980,027 NYM Narryermetalslimited 0.031 -11% 101959 $6,161,918
Sky News AU
30-06-2025
- Sky News AU
ASX 200 soars after US President Donald Trump indicates he will not extend the deadline on his 'Liberation Day' tariffs
The ASX 200 has jumped on Monday after US President Donald Trump indicated he would not need to extend the deadline on his 'Liberation Day' tariffs. The index has jumped 0.3 per cent in the first 40 minutes of trading with building materials company James Hardie jumping 9.3 per cent, insurance provider nib Group rising 4.6 per cent and fintech company Block adding 3.8 per cent. It comes as the index has surged almost 10 per cent over the past 12 months, driven in part by an almost 48 per cent rise in the market's largest company Commonwealth Bank of Australia. Trump delivered some certainty over his trade policies on Sunday when he told Fox News he did not think his administration would need to extend the July 9 deadline for his sweeping tariffs. 'I don't think I'll need to," he said in response to a question over extending the deadline. This follows White House press secretary Karoline Leavitt last week saying the deadline for Trump's sweeping tariffs may be extended. She noted Trump could "simply provide ... countries with (a) deal if they refuse to make us one by the deadline' and set "a reciprocal tariff rate that he believes is advantageous for the United States'. Pressed on this, Ms Leavitt said: 'Perhaps it could be extended but that's a decision for the president.' On Friday, the S&P 500 added 0.5 per cent, the Dow Jones jumped one per cent and the Nasdaq was up half a per cent. London's FTSE 250 jumped 1.1 per cent, Germany's DAX soared 1.6 per cent and the STOXX Europe 600 added 1.1 per cent on Friday. New Zealand's NZX 50 Index has fallen 0.1 per cent since trading began on Monday, while Japan's Nikkei 225 is up 1.4 per cent.
AU Financial Review
27-06-2025
- AU Financial Review
James Hardie off to NYSE after months of anger over Azek deal
Building products group James Hardie will shift its primary listing to the New York Stock Exchange after shareholders in US outdoor decking company Azek approved a $14 billion buyout which infuriated many Australian shareholders. Azek shareholders gave the green light to the cash and scrip deal at a meeting held on Friday (Saturday AEST). Shareholders in James Hardie were denied a vote after the ASX granted the company a waiver in a controversial move months ago.
