ConnectEast
Encyclopedia
ConnectEast is an Australian limited corporation responsible for the finance, design, construction and operation of Melbourne's EastLink
tollway project.
Listed in the Australian Stock Exchange as The ConnectEast Group ( stock symbol: CEU), it won the tender in 2004 to finance, design, construct, operate and maintain the 39 km Mitcham-Frankston project motorway, which links the Eastern Freeway in the eastern suburbs of Melbourne to the Frankston Freeway in Melbourne's south-east. This tollway, called EastLink was constructed through a joint-venture between Thiess and John Holland
and completed 5 months ahead of schedule with the tollway opening in June 2008.
As a public listed company in the stock exchange, it is also one of the few infrastructural stocks that is restricted to a single asset.
In an announcement to the Australian Stock Exchange (ASX) on 31 October, 2007 ConnectEast Group announced the distribution of 3.25 cents per stapled unit payable on 1 November, 2007.
ConnectEast provides for a program of reinvestment of the dividends called the DRP (Dividend Reinvestment Plan) where unitholders participating in this plan will be issued with units at $1.585, which represents a 5% discount to the daily volume-weighted average price for 20 trading days from 20 September to 18 October 2007. This DRP was subscribed by over 68% of the unitholders, who are of the opinion that there is a lot of "leg-room" for the share price to move up.
EastLink, Melbourne
EastLink is a A$2.5 billion tolled freeway linking a large area through the eastern and south-eastern suburbs of Melbourne, Australia. It is a part of Melbourne's Metropolitan Ring Road project....
tollway project.
Listed in the Australian Stock Exchange as The ConnectEast Group ( stock symbol: CEU), it won the tender in 2004 to finance, design, construct, operate and maintain the 39 km Mitcham-Frankston project motorway, which links the Eastern Freeway in the eastern suburbs of Melbourne to the Frankston Freeway in Melbourne's south-east. This tollway, called EastLink was constructed through a joint-venture between Thiess and John Holland
John Holland (engineer)
Sir John Holland AC was an Australian engineer and construction magnate, who founded the John Holland Construction Group in 1949, was Managing Director until 1972, Chairman until 1986, and President from 1986 until his death...
and completed 5 months ahead of schedule with the tollway opening in June 2008.
As a public listed company in the stock exchange, it is also one of the few infrastructural stocks that is restricted to a single asset.
In an announcement to the Australian Stock Exchange (ASX) on 31 October, 2007 ConnectEast Group announced the distribution of 3.25 cents per stapled unit payable on 1 November, 2007.
ConnectEast provides for a program of reinvestment of the dividends called the DRP (Dividend Reinvestment Plan) where unitholders participating in this plan will be issued with units at $1.585, which represents a 5% discount to the daily volume-weighted average price for 20 trading days from 20 September to 18 October 2007. This DRP was subscribed by over 68% of the unitholders, who are of the opinion that there is a lot of "leg-room" for the share price to move up.