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27
March 2006
Executive team buys out remaining
non-management
shareholders
The executive
management team of IPS
Logistics Group has finalised a deal which has
seen the exit of all non-management shareholders.
Management now
holds 100 percent of shares in the group.
The latest purchase
of 39 percent held by a number of shareholders
follows
last month’s purchase of the majority shareholding previously
held by the Horne family.
It
is intended that future capital raising will include staff and external
investors.
On
behalf of the management
team, CEO John Cooper thanked all staff for
their support over the past year. In doing so, he
noted: “The challenge for all of us from today is to devote
all our energies and focus on the business and its future, without the
distractions of shareholding issues which are now behind
us. We look forward to the contributions of all our
staff and partners, and have confidence in our collective abilities to
make IPS Logistics Group a far stronger, more successful and robust
enterprise than it’s ever been before."
28 February 2006
Executive team invests to take majority
shareholding
The executive
management team of IPS
Logistics Group has today reached agreement to purchase the majority
shareholding of the group, previously held by the Horne family. Settlement
will take place within two weeks.
The change in
shareholding arrangements
will see a number of the management team increase existing
shareholdings to total
over 60 percent of IPS shares.
Further
capital raising is planned, and, while it is intended to broaden the
company’s
shareholder base to include staff and external investors, the executive
team
intends to further invest in the group’s future as part of
any
capital raising
program.
The executive
management team comprises:
John Cooper
CEO / Managing
Director
Abdul Gundru
CFO / Company
Secretary
Robin Hockins
GM
Operations & Development
Peter Pike
GM Seed Pack
& Island
Packing/Storage
John Randell
GM Narrabri
& Melbourne
Chairman Paul Moni
has welcomed the change
in shareholding arrangements.
“The
alignment of shareholder interests
with that of directors and management is good news for our customers
and key
stakeholders.
This investment
demonstrates the commitment of our senior management and their faith in
the
company’s future.
Strategic
decisions
can now be implemented with the confidence that shareholders are here
for the
long haul,” he said.
On behalf of the
executive team, CEO John
Cooper thanked staff, customers and stakeholders for their support over
the
past year.
“Change
is always
difficult,
and dealing with the range of issues faced by IPS since the tragic
death of the
group’s founder last year has been particularly challenging. As
we enter the next phase of our growth,
we’re eagerly looking forward to the challenges of building a
stronger company
and a broader customer base.”
28
September 2005
New Director Appointed
Brad
Horne has been appointed as a
non-executive director of IPS Logistics Group. Brad
replaces
Andrew Doyle who had filled the casual vacancy following the passing of
Harold Horne in May 2005. At the company’s 2005
Annual
General Meeting, shareholders elected Brad unopposed to join Paul Moni
and John Cooper on the Board of Directors.
Brad is the son of IPS founder Harold Horne. He runs his own
rural supplies business near Gympie in Queensland. Aside from
his
current business interests, Brad has benefited from exposure to the
cotton and grain industries in varying capacities over the years.
Chairman Paul Moni and CEO John Cooper welcomed Brad to the Board,
expressing their confidence in the decision to elect Brad to represent
the interests of all shareholders in IPS.
8 August
2005
Strengthening
of Executive Team
John
Randell
John Randell has been appointed GM Narrabri
& Melbourne.
As
Manager Narrabri, John has achieved
impressive results and has steered the Narrabri business through
extremely
difficult times, particularly following the loss of the
company’s
founder and
former CEO Harold Horne. John’s
leadership and operational oversight has been invaluable in providing
direction
to the Narrabri team.
John’s new
and expanded role recognises his
ability and potential to oversee and develop, together with other
members of
the IPS executive team, the Melbourne
operations. John’s
appointment complements other recent
changes.
The
executive management team
now comprises:
John Cooper
CEO / Managing
Director
Abdul Gundru CFO / Company
Secretary
Robin Hockins
GM Operations
&
Development (commencing
12 Sept’05)
Peter Pike
GM Seed
Pack &
Island
Packing/Storage
John Randell GM Narrabri &
Melbourne
25 July 2005
Senior
Management Changes
Robin
Hockins
In
early September,
Robin Hockins will join the IPS team as General Manager Operations and
Development.
Robin has been in
charge of Harker
Transport Services, a Brisbane-based transport operation which has
recently
been sold to a larger southern-based company. Robin
has a very strong operational background in
transport and
logistics.
His experience in
previous organisations
has included the identification of operational deficiencies and
introducing
corrective and sustainable change processes. He
has built a reputation of being performance and
profit-focused, and
has a hands-on approach which will suit the environment and challenges
facing
IPS.
Laurie
Pevitt
Laurie
Pevitt has
decided to leave the
shipping and logistics arena after more than 35 years in various
segments of
the industry.
Accordingly
Laurie has
advised that he will be leaving IPS so that he can devote more time to
outside
interests.
Laurie will be
assisting IPS with
transitional arrangements and finalisation of a number of paper/timber
issues
during August and early September. We
thank Laurie for his contribution to IPS and wish him all the best with
his
endeavours.
7 July 2005
New
Chairman Appointed
Paul Moni has been
appointed as Chairman of IPS
Logistics Group. Paul replaces John Cooper who took over the
executive leadership role following the passing of CEO and founder
Harold Horne in May 2005.
Paul is an
independent company director of a number of
companies and chairman of a group whose activities include a Ford
dealership, an insurance company and property development.
Paul operates a governance and risk management consulting
business and is a former partner of Coopers & Lybrand and
director
of the Australian Securities & Investment Commission.
Paul is an independent member of an audit committee of a
major
financial services organisation, National President of Company
Secretaries Australia and is an honorary Adjunct Professor at
University of Queensland Business School.
Besides his
financial credentials, Paul's experience
with corporate governance has added considerable strength to IPS during
his tenure as Director over the past year.
CEO
Appointed
The Board of IPS
has formally appointed John Cooper
as CEO/Managing Director. He has been involved with the
company
as a non-executive Director and Chairman in recent years.
John's move to a
fulltime executive position with IPS
reflects the Board's commitment to see the company develop.
His
initial focus is to guide the group through a time of crisis in order
to deliver on its potential as a logistics partner of choice for
selected commodities.
John has previously
held CEO, senior management, and
board positions in a range of industries and business sectors,
including infrastructure (ports/airports), transport/logistics, trade,
construction, agribusiness, multi-service human
support
services, correctional/security and justice support services,
technology, and specialist consultancy
services.
The majority of his
CEO/senior executive experience,
covering both private and public sectors, has been in complex
environments that are facing significant cultural, commercial and
strategic change.
His most recent
position, for the past five years, has
been as CEO/Managing Director for an Australian subsidiary of a
European multinational corporation employing approximately 320,000
people across 76 countries, with global revenues in excess of A$20
billion, operating in the food and management services sector.
The last five years has seen the Australian company
transition
from an American/French joint shareholding to full ownership by the
French multinational Sodexho Alliance. John's leadership saw
significant increases in terms of revenue, profit, client numbers, and
range of services.
31May 2005
Loss
of Founder
On
16 May 2005, the company's CEO and
founder Harold Horne passed away. The tragic loss has been
mourned not only by Harold's family, but also
by the company's staff and customers and the wider business community.
As
everyone is aware, Harold was a
dynamic force in the establishment and development of IPS Logistics
Group. To start an operation from nothing and to turn it,
within
a few short years, into a vibrant business group spanning the eastern
states is a remarkable achievement, and a tribute to Harold's vision
and determination.
Harold's
funeral at Wee Waa on
Saturday 21 May was attended by many mourners. The Board and
Shareholders join the wider community in supporting Harold's family at
this time.
Board
and Management
At
its 31 May 2005 meeting, the Board
of Directors elected Andrew Doyle to fill the casual vacancy following
the loss of Harold Horne.
Andrew
is a solicitor and company
director. He has over 20 years legal experience and is
currently
a partner of Doyle Wilson Solicitors, with offices in Goondiwindi, St
George, and Sydney. Shareholders will be familiar with Andrew
through his attendance at shareholder meetings on behalf of the
company.
New
Brisbane Facility
The
new Brisbane facilities are now
operational, and in the last few weeks have been quickly filled with
cotton, paper, and timber. Although the late completion of
the
facilities has placed significant strain on the Brisbane operations in
such a large cotton season, there is no doubt that the facilities are
first-class and will prove their worth for the long term.
The
associated office facilities which
are sorely needed and which formed part of the overall development
approved last year have not been constructed, due to priority on
completion of the operational warehousing facilities.
Stage
2 of the project , including
another 30,000 square metres of warehouse space and the eagerly awaited
office accommodation, is scheduled for completion in 2006.
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