May 19, 2020

Exxaro Moves In On Territory Resources

Glen McLatchie
Bizclik Editor
2 min
Exxaro Moves In On Territory Resources


South African-based Exxaro Resources has outbid Noble Group for the purchase of iron ore miner Territory Resources.

For 46 cents a share, Perth-based Territory Resources’ board recommends that shareholders accept the A$123 million offer—and ends a proposed takeover by 22 per cent shareholder Noble. The Exxaro offer was a 64 per cent premium to its last closing share price.

In a statement released Monday ending a debt-to-equity agreement with Noble, Territory said, “Importantly, Territory has been able to agree binding documents with Exxaro which include financing arrangements that will ensure Territory has the required capital to meet its short term funding needs if the existing Noble facilities are withdrawn or scaled back.”

Exxaro already has a pre-bid acceptance agreement with DCM DECOmetal for its 11.2 per cent holding in Territory. While Territory and Exxaro believe the Offer provides a very attractive opportunity for Territory shareholders, the offer is conditional on a 60 per cent minimum acceptance to avoid Noble having a blocking stake. There is also a $1.55 million break free on the deal.

Exxaro CEO Sipho Nkosi said “Territory’s assets provide an excellent match to Exxaro’s stated objective of gaining operational exposure in iron ore.  Territory represents a reasonably sized opportunity which will allow Exxaro to leverage its bulk commodity and iron ore beneficiation expertise.  At the same time the Offer allows Territory shareholders the opportunity to realise an attractive cash price at a considerable premium to the market value.”

Territory shares rocketed on Monday, closing 58.9 per cent higher at 44 cents.

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Jun 22, 2021

Digital Leader Mobiquity Expands Into Asia-Pacific

3 min
Mobiquity pursues a vision of global growth with its first APAC hire—Gustavo Quiroga, its new Vice President of Business Development Financial Services

As an international digital consulting firm, Mobiquity helps a global client base upgrade its digital banking and financial services. The company employs 1,200 team members across 50+ nationalities and serves an estimated 200+ million users each day. Recently, the company built out a digital banking experience for the Bank of the Philippines Islands’ online and mobile platforms—exemplifying its mission to help leading brands engage with technology in meaningful ways. 


To highlight Mobiquity’s services, here are a few of the company’s recent accomplishments


  • Designed and developed the first FDA-approved digital medicine system
  • Launched a five-star mobile ordering app
  • Pioneered a cloud-based IT infrastructure that prevented bank fraud
  • Built the official AWS re:Invent 2017 and 2018 mobile apps 


What Makes Mobiquity Stand Out? 

According to Mobiquity, it's the people that make all the difference. ‘We’re born innovators who like meaty challenges’, the company wrote. ‘We go deeper, getting to the root of your customers’ friction and creating personalised engagements that deliver much more than a digital experience alone’. Now, the company has added former Microsoft and IBM director Gustavo Quiroga to its team. 


Who Is Gustavo Quiroga? 

At Mobiquity, he’ll be the first Vice President of Business Development Financial Services in APAC. With years of experience in the industry, Quiroga has developed numerous tech, business, and customer experience projects: at Microsoft, he led a top Aussie Azure Data and AI specialist team, and at IBM, he applied AI and deep analytics to transform the company’s business processes, CX, and UX. 


Based in Sydney, Australia, Quiroga will start to work with Mobiquity clients in Singapore, Vietnam, and the Philippines and take responsibility for expanding the company’s regional operations. ‘Our best way to impact client outcomes’, he wrote, ‘is by listening to them with an inquisitive and open mind and empowering our people to do the same’. 


When notified of the announcement, Quiroga expressed excitement over his new role. ‘I’m delighted to join Mobiquity and support the company’s rapid expansion across the Asia-Pacific region. I joined Mobiquity to develop, design and implement digital products and services that create meaningful experiences with customers...and I look forward to using my expertise to develop partnerships where we can achieve this every day’. 


Where Does Mobiquity Go From Here? 

In the past six months, Mobiquity has hired over 100 new employees, including the high-profile additions of Howard Moore, Senior Director of Banking, and Ruby Walia, Senior Advisor for Digital Banking. This falls in line with the company’s hyper-growth strategy to deliver digital products to the world. 


As Matthew Williamson, Mobiquity’s Vice President of Global Financial Services, explained: ‘Our appointment of Gustavo demonstrates [our] commitment to hiring an A-list team of talent. The latest addition to the Mobiquity team supports our vision of global growth in Asia-Pacific, as a recognised partner within the banking and finance ecosystem’.


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