|Type||Public (ASX: CEU)|
|Founded||Mount Waverley, VIC, Australia 2002|
|Headquarters||Ringwood, VIC, Australia|
|Key people||Tony Shepherd, Chairman
Dennis Cliche, Managing Director
|Employees||approx. 300 (2009)|
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.
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