- Ausdrill has announced Perenti Global will be the new trading name for the company
- The Board considers the new name and brand will better reflect the company’s status as a diversified global mining services group
- Ausdrill will change its ASX code from ASL to PRN
Ausdrill has announced it has changed its name to Perenti Global.
The Board considers the new name and brand will reflect its status as a diversified global mining services group better than the previous name of Ausdrill.
The new name will also provide a strong platform that will support the strategic direction and future growth of the company.
Over the past year Ausdrill has been through some changes with the acquisition of Barminco, the development a new strategy and implementation a new platform model which will help grow the company.
Managing Director Mark Norwell says the name change represents a new chapter in the company’s history.
“We have evolved from an Australian drilling company into a global mining services company that has businesses in surface mining, underground mining and mining support services (our Investment ISG),” he said.
The first step of the rebranding and name change process is for Ausdrill to commence trading under Perenti. Ausdrill will commence trading under its new name from today.
The second step is for Ausdrill to officially change its registered company name from Ausdrill Limited to Perenti Global Limited. This change will be brought up in the 2019 annual general meeting.
If the change is formally approved it will be effective when the Australian Securities and Investments Commission (ASIC) updates the details of the company’s registration.
Ausdrill will change its ASX code from ASL to PRN.
“This name change is more than cosmetic, it’s an important step in culturally binding our businesses together under a common identity and it supports our new aspiration, purpose and strategy we rolled out earlier in the year,” Mark added.
The company said the Ausdrill name has a long and proud history and the name will be retained for the group’s surface drilling operations in Australia.