WHC

Coal mining company Whitehaven Coal (ASX:WHC) have announced its half year financial results for 2013 to its shareholders and investors on the Australian stockmarket.

• Whitehaven Coal have posted a $47 million loss for the first half of 2013.
• WHC revenue fell 18 percent to $281 million.

Sydney based coal miner, (ASX:WHC) issued a profit warning on Thursday.

• WHC 1H first half earnings (EBITDA: earnings before interest, tax, depreciation and amortization) could be below $10 million after weak coal markets and high Australian dollar takes its toll.

Whitehaven Coal (WHC) has announced today its approval of the $2.3 billion deal to merge with another Australian coal miner Aston Resources (AZT) after confirming last week its merger talks. The merger is expected

Whitehaven Coal (WHC) and Aston Resources (AZT) confirm that both the coal miners are in discussions for a possible $ 4.65 billion merger. A deal like such can bring a combined company to the first rank of Australian coal producers.

There are no floats but there are a couple of ex-dividends scheduled for tomorrow and there are quite a few companies who are holding their Annual General Meeting on Friday 28 October, 2011.

Annual General Meetings

Here is a list of companies who have scheduled an AGM today:

For September 12, 2011, there is only company scheduled to float and another one to hold their extraordinary general meeting, but traders have a lot to look forward to. There are 30 stocks that are scheduled to go on ex-dividend.

Dividends

Whitehaven Coal's (ASX:WHC) shares fell due to lack interest from buyers. The company has ended months of negotiations without striking a deal.

Managing director Tony Haggarty stated that the takeover deal is still up for grabs but he doesn't have high hopes for a good offer. "I don't expect that to happen," he said. "This has been a thorough process and I would expect that anybody who's seriously interested would have come forward."

Whitehaven Coal (ASX:WHC) has rejected all bid proposals from potential buyers after deciding that none of the offers were significantly appealing enough to pitch to its shareholders.

Sources have said that Whitehaven wanted bids that are at least $7.50 per share. This would peg the target at around $3.7 billion.

Whitehaven Coal (ASX:WHC) has slashed its profit guidance after Japan deliveries were reduced. The March and June quarters saw deferred coal shipments to Japan from Newcastle because of damage from the earthquake and tsunami.

The company said, "The principal reason ... is the deferral of metallurgical coal shipments from Newcastle to Japan during the March and June quarters." Shares dropped 20 cents or 3 percent to $6.52, the lowest since March 24.