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Company nameConnectEast
Company typePublic (ASX: CEU)
SloganTime Better Spent
FoundedMount Waverley, VIC, Australia 2002
HeadquartersRingwood, VIC, Australia
Key peopleTony Shepherd, Chairman
Dennis Cliche, Managing Director
ProductsEastLink Tollway
RevenueUnknown (2005)
Employeesapprox. 300 (2009)

     Home | Company | ConnectEast

ConnectEast Asx - CEU 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.

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