Stocks of the Hour: Woolworths, Metcash & Sims

Company News

by Lauren Evans

Woolworths (ASX:WOW) has settled the class action made against the company in 2019 regarding payment shortfalls to salaried team members. On the basis that the proceedings are stopped, the supermarket giant has paid $370 million in remediation payments. Shares in Woolworths (ASX:WOW) are trading 0.8 per cent higher at $40.

Metcash (ASX:MTS) will welcome Doug Jones from Massmart Wholesale to take over Jeff Adams' role as CEO. Jeff joined Metcash in 2017, and since then has been acknowledged for his strong work ethic towards the business. Doug will join Metcash in February next year. Shares in Metcash (ASX:MTS) are trading 1.1 per cent lower at $3.98.

Recycling company Sims (ASX:SGM) has appointed Victoria Binns as an independent non-executive director, following the retirement of Jim Thompson. Victoria is currently a non-executive director of Cooper Energy and Evolution Mining. Shares in Sims (ASX:SGM) are trading 2.4 per cent higher at $13.02.

Click on the ASX code for the full story.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.