Morningstar - Ardent Leisure (AAD) Corporate Action: Vote AGAINST Ariadnes Resolutions to Appoint Nominees on Ardent Leisures Board

Report

Morningstar

Brian Han

EUR 101.80 For Business Accounts Only

Corporate Action: Vote AGAINST Ariadne's Resolutions to Appoint Nominees on Ardent Leisure's Board

We recommend Ardent Leisure securityholders vote AGAINST Ariadne's resolutions to appoint two directors to the group's board at the General Meeting on Sept. 4, 2017.
Credit should be given to 10.9% shareholder Ariadne and its associates for their intense agitation. Their pressure for board change and vocal criticism of Ardent's complacency have been the key catalyst for the group's recent burst of actions, including the CEO change, the Main Event strategic review, and the board renewal process. ...

27/08/2017 16 EN

Underlying

Ardent Leisure

Ardent Leisure invests in and operates leisure and entertainment businesses in Australia, New Zealand and the U.S. Co. is organised into the following divisions: Marinas, which comprises seven d'Albora Marina properties, located in New South Wales and Victoria; Family entertainment centres, which comprises of 27 Main Event sites in the U.S.; Bowling centres, which comprises 48 bowling centres and six amusement arcades located in Australia and New Zealand; Theme parks, which comprises Dreamworld and WhiteWater World in Coomera, Queensland and the SkyPoint observation deck and climb in Surfers Paradise, Queensland; as well as Health clubs, which comprises 76 clubs in Australia.

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AU000000AAD7 Australia

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Brian Han

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Corporate Action: Vote AGAINST Ariadne's Resolutions to Appoint Nominees on Ardent Leisure's Board

Monthly LMI Update Independent Investment Research

Feasibility Study Results in December to be a Catalyst for this Junior

Morningstar | Ardent Leisure Requires Ardent Patience

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Sasol Provides Full-Year Production Update

Sasol Provides Full-Year Production Update

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