“We accept that market participants have different opinions, however this report is littered with inaccuracies,” said Seek CEO Andrew Bassat. SmartCompany Here are the labels you may see on your Twitter feed as you scroll on election night, as the platform seeks to limit the spread of misinformation in the following days. Sign up for the Herald's here and The Age's here. All Rights Reserved. It has been more than two years since he has taken on a company in the Australian market. Blue Orca reckons Seek is worth only $7.20 a share. Colin Goldschmidt is a qualified medical doctor and has been chief executive of Sonic Healthcare since 1993. "This is priced as a growth platform but there's no growth," Mr Aandahl said. It owns 61.1 per cent of Zhaopin, which used to be listed on the NYSE. This is why Mr Aandahl argues the Australian market is wrong to ascribe it a growth premium. She was the first chief executive of a major Australian bank or top 15 company and stepped down from her role in February this year. Her first case involves what kinds of documents the public can seek under the Freedom of Information Act. The Australian valued at $329 million in 2019. As of Aug 26, 2019. Andrew Reuven Bassat is the CEO and co- founder of Seek Limited with his brother Paul Bassat.Since its inception in September 1997, the company has become the #1 Job seeking portal in Australia. Seek entered a trading halt last week after the short seller report sent its shares down 8 per cent to $21.51. Against the backdrop of COVID-19, Alphabet (GOOGL) faces cold headwinds on the earnings front in addition to emerging regulatory challenges. Andrew R. Bassat serves as Chief Executive Officer, Managing Director, Executive Director of SEEK Ltd. Andrew Bassat is the Managing Director, CEO and Co-Founder of SEEK Limited. Turns out, not all overseas locations are proving equal. Blue Orca said Seek's shares could be worth as little as $7.20. Andrew Bassat is 53, he's been the Chief Executive Officer, Managing Director a Executive Director of SEEK since 2011. Seek responded: "Given that the strategies of short-seller opinion writers such as Blue Orca Capital are generally to generate publicity by drawing companies into a public debate, Seek's preferred response is simply to confirm that it continues to meet its continuous disclosure obligations and is confident of its long-term outlook. Total Seek group revenue was $1.577 billion and net debt was $900.6 million at June 30, derived from borrowings of $1.948 billion, cash of $604.8 million and funds on deposit of $442.8 million. Hospitality tech startup HungryHungry bags $2 million, as COVID-19 brings irreversible change to the sector, Deliveroo dragged to court in unfair dismissal case that could have “significant ramifications” for the Aussie gig economy, “An entrepreneur at heart”: CarAdvice co-founder Alborz Fallah raises $3 million for new motor media venture, Riot Art & Craft shuts 56 stores, as pressure mounts on retailers, The ATO is coming for overpaid JobKeeper cash, guidelines confirm, Adore Beauty joins the ASX: How Kate Morris built an e-commerce empire, Melbourne gyms to reopen from November 9, but COVIDSafe restrictions threaten their viability, Working hard from home or hardly working? It operates through SEEK Asia Pacific & Americas, and SEEK Investments segments. The Blue Orca report is littered with inaccuracies says Seek chief executive Andrew Bassat.Credit:Eamon Gallagher. Moore also has a keen interest in the arts, and is the chairman of Screen Australia and the Sydney Opera House Trust. SEEK Limited, together with its subsidiaries, provides online employment marketplace services in Australia and internationally. Seek reported a $111.7 million loss for 2020 in August including asset impairments totalling $198 million on its South American business and minority investments. JAMES Packer was well ahead of 2nd-placed PG Telecom boss David Teoh with $2.73 billion worth of shares, […]
And Blue Orca says that when Zhaopin was listed in its own right, it would expense software costs, not capitalise them. Blue Orca posted a reply within hours stating that Zhaopin has removed 64 of the 66 employers on its platforms that the short seller identified as likely fake, "which we believe is clear validation of our work". © 2020 Forbes Media LLC. 10.
As of Aug 26, 2019. Storyblocks, the subscription-based stock content, is today launching its Re: Stock campaign, in an effort to bolster the amount of LGBTQ+ and BIPOC content in its library. "While we do not believe reports of this nature warrant a response, the ASX has asked for one.". Help using this website - Accessibility statement, Polls open in the US with 100m votes already cast, Centuria buys $115m worth of short-stay hospitals, Markets lean in to blue wave ahead of count, PayPal flags extraordinary demand in buy now, pay later space, ASX closes 1.9pc higher; 'recession is not over', says Lowe, ASX to rise, RBA poised to cut interest rates, Fire, smoke and steam add ancient drama to new food venue, Why slogomania has overtaken logomania in fashion, Italian inspiration meets Australian flavour in new liqueurs to love, Six things I learnt from trying 20 online courses, Rich Listers win with boards that can say no, Screen star Marion Cotillard turns her hand to jewellery design, Leaving home at last: travel within your region awaits, Why Norway means peak romance for this CEO, Rich Lister Tony Haggarty offloads $26m of prime grazing country, Australia's cattle kings and queens on top of the world, Vesna Poljak, Robert Guy, Sarah Turner, William McInnes, Tom Richardson and Luke Housego. Bassat, who co-founded online jobs portal Seek with his brother Paul in 1997, was named Australia’s entrepreneur of the year back in 2013. Blue Orca was founded by Soren Aandahl, who successfully executed activist shorts against Quintis and Blue Sky Alternative Investments as part of the disbanded activist house Glaucus Research. Were the opposite true, Seek's 2020 EBITDA would be lower than what it earned in 2016. Copyright © 2020 Private Media Pty Ltd. Publishers of SmartCompany. He has been involved in all stages of the development of the business since he co-founded the Company in 1997. 3. As the chief executive of the world’s largest mining company, it is no surprise to see Andrew Mackenzie make the list of Australia’s highest-paid CEOs. He has been involved in all stages of the development of the business since he co-founded the Company in 1997. Seek's equivalent would be 47 times if its earnings were reported at a level the short seller believes is a fairer comparison based on their respective accounting treatments. Rex has been the chief executive of Ramsay Health since 2008, after acting as the chief operating office for 13 years. Key results could start coming in by midday AEDT. We are well-positioned for future growth and remain confident in SEEK’s long-term outlook,” Mr Bassat he said in a statement to the ASX. It operates through SEEK Asia Pacific & Americas, and SEEK Investments segments. Analyst reports that have been released since the short seller attack on Seek have covered some of the issues targeted by Blue Orca. A frequent comparison, the Nasdaq-listed Chinese jobs classifieds site 51job, is being privatised at 20.5 times enterprise value to EBITDA. Seek’s Andrew Bassat was found to have scooped up the most bonuses in the past financial year, with a reported pay of $4.2 million while actually taking home $17.9 million.
SmartCompany is the leading online publication in Australia for free news, information and resources catering to Australia's entrepreneurs, small and medium business owners and business managers. CEO Andrew R Bassat. Blue Orca refers to the Australian arm as "flat growth". "The fullness of Seek’s market disclosures ensures that market participants have a great deal ofinformation against which to assess the merit, or lack thereof, of claims such as those in the report," Seek said. Who Is In Line For Consideration If Chicago Cubs Seek Regime Change? The oldest executive at SEEK Limited is Michael Wachtel, 64, who is the Independent Non-Executive Director.
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It highlighted Zhaopin's profitability and strong cash generation and defended its accounting practices at the main Seek business which includes capitalising software development costs. Short sellers make a profit by trading on the expectation of a falling share price. Follow updates here. “We accept that market participants have different opinions, however this report is littered with inaccuracies. Zhaopin recorded revenue in 2019-20 of $749.6 million, up 16 per cent, and EBITDA of $123.7 million, up 25 per cent. "Seek recently confirmed it is holding discussions with a number of parties around a potential selldown of its Zhaopin investment with any potential proceeds to clearly support Seek's balance sheet," said Goldman Sachs which values the stock at $17.30. Andrew Bassat is 53, he's been the Chief Executive Officer, Managing Director, and Executive Director of SEEK since 2011. Gries’s salary has previously come under scrutiny by the Australian Shareholders Association, according to The Australian. A little-known fact about him is that he is able to speak five languages. Andrew Bassat, SEEK: $17.9 million Bassat, who co-founded online jobs portal Seek with his brother Paul in 1997, was named Australia’s entrepreneur of the year back in 2013. In July 2016 Andrew was appointed as a director of St Kilda Football Club and in December 2018, became President of the Club. Ken MacKenzie stepped down as Amcor’s chief executive in June in order to spend more time with family. "Rather than valuing Seek as a fast-growing online recruiting platform, we value Seek for what it is – a slow or no-growth platform whose core business is shrinking and which carries a dangerous amount of debt," the research concludes. Nicholas Moore has been chief executive of Macquarie since 2008. Seek said it would update its earnings guidance at its November 19 shareholder meeting. Last updated: 1 November 2020 at 11:00am EST.
There are 4 older and 1 younger executives at SEEK. Andrew R. Bassat serves as Chief Executive Officer, Managing Director, Executive Director of SEEK Ltd. Andrew Bassat is the Managing Director, CEO and Co-Founder of SEEK Limited. Sales $1B. He has more than 30 years’ experience in the insurance and financial services sectors, scooping up $4 million in equity last financial year on top of his $7.5 million salary. ANDREW BASSAT.
To get to the aforementioned 4.8 times net debt to EBITDA, a net debt figure of $1.25 billion is used. Andrew Bassat: co-founder and CEO of Seek.com, Australia's leading online jobs site with a significant offshore business as well. All Rights Reserved. SEEK Limited, together with its subsidiaries, provides online employment marketplace services in Australia and internationally. Chris Rex, Ramsay Health Care: $30.8 million. A rider for Deliveroo Australia is taking the food delivery giant to court today, in a Fair Work Commission unfair dismissal case.
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