Business Services Industry
Alinta team turns on Tap.
Australasian Business Intelligence, June, 2007
Byline: Michael Weir
Jun 21, 2007 (The West Australian - ABIX via COMTEX) -- The share price of Australian-listed Tap Oil has improved significantly since May 2007, when it was around $A1.50. Its shares closed at $A1.91 on 21 June, close to their best close in the last year. The recent improvement has been attributed to the purchase of Tap shares by a number of former executives of Alinta who left the firm after being involved in a controversial management buyout of the utility. They include former chair John Poynton and CFO John Pearce. Their stake in Tap Oil is now believed to be around five per cent, but it is not known what plans they may have for Tap, which is considered an underperforming company.
Publication Date: 22 June 2007
TAP OIL...
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