Stocks of the Hour: Charter Hall, Woodside Petroleum & Rex

Company News

by Michael Luu

Property manager Charter Hall Long WALE REIT (ASX:CLW) is set to splash a total of $415.4 million on four 50 per cent stakes in four office and research assets and a complete takeover of one retail property. Charter Hall plans to finance these acquisitions with a $250m equity raising and existing debt facilities.

Shares in Charter Hall Long WALE REIT (ASX:CLW) last traded at $4.81.

Petrol explorer Woodside Petroleum (ASX:WPL) has announced its intention to divest its 50 per cent stake in the proposed Kitimat liquefied natural gas (KLNG) development project in Canada. The $21.7 billion company plans to either sell its 50 per cent slice or liquidate assets, leases and agreements connected to a 471 km natural gas pipeline and the land area selected for the development of a proposed LNG processing plant .

Shares in Woodside Petroleum (ASX:WPL) are trading 2.3 per cent higher at $23.04.

Aviation services provider Regional Express (ASX:REX) has complied with an ASIC penalty notice and paid the $66,000 fine for alleged disclosure misconduct, yet denying all liability and reaffirming its legal integrity. ASIC moved to penalise the airline operator, claiming that REX’s interview with the Australian Financial Review (AFR) last week was in violation of disclosure responsibilities under corporate law.

Shares in Regional Express Holdings (ASX:REX) are trading flat at $1.28.

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