greencap ltd (GCG) Snapshot

Greencap Limited announced the employment of Dr. George Robinson as National Director - Trimevac. Dr. George Robinson has spent his professional life in the services sector with senior executive experience spanning more than 35 years. He has been a senior manager in the fire and emergency response training industry for 10 years. George also has a further 25 years' experience with senior management positions in some of Australia's companies including Westpac, KPMG and Computershare. Dr. Robinson has most recently been running a highly successful emergency service and training business, Rapid Evacuation Training Services Pty Limited.

Greencap Limited intends to launch a strategic review process. The Board of the company believes that the market has not recognized the underlying value in the Company and that this value could be unlocked for shareholders by reviewing possible different ownership alternatives. These options could include a transformational acquisition, considering approaches by third parties, a merger with a complementary business or privatization. Greencap has hired Miles Advisory Partners Pty Ltd. to assist in the review of options. Greencap Managing Director, Earl Eddings, said that: “Greencap remains optimistic about the fundamentals of its business and its growth prospects in Australian markets and abroad. We operate in the right markets with the right clients.” “The Board is focused on ensuring Greencap has the best structure to unlock the currently unrecognized value for our shareholders; provide more innovative and efficient solutions to our customers; and, enable investment to expand opportunities for our staff.”

Greencap Limited reported earnings results for the first half year of 2013. For the period, total revenue was AUD 32,300,000 against AUD 35,431,000 a year ago. Revenue from continuing operations was AUD 31,949,000 against AUD 31,718,000 a year ago. Result before finance costs was AUD 1,775,000 against AUD 2,745,000 a year ago. EBIT from continuing operations was AUD 2,000,000. NPAT from continuing operations was AUD 1,200,000. Cash flow from operations was AUD 2,800,000.