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ABC revamps board after loss
By Simon Vevers,
Nursery World,
14 August 2008
Australian-based childcare giant ABC Learning Centres has restructured its board of directors after announcing a pre-tax annual loss to the end of July of A$437 million (£204m).
Among new appointments to the board are Andrew Hawkyard, chief operating officer of Morgan Stanley Private Equity Asia, which bought a 60 per cent stake in ABC's US operations earlier this year and Colin Au, corporate adviser to Singapore's Temasek Holdings - one of ABC's biggest shareholders. They will join the board in September. News of the company's losses dragged the share price down 9 per cent to 75 cents (35p). It has fallen 86 per cent during...
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