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2001 Half Year Report to Shareholders

New chairman and new director for Orica
Orica's new chairman Don Mercer brings extensive international and Australian business experience to his new role, as does Peter Duncan to his position as a non-executive director.

Don Mercer took up his position on 2 May and Peter Duncan joins Orica on 1 June.

Don Mercer was appointed chairman on the retirement of Ben Lochtenberg. A non-executive director from 1992 and chairman from 1995, Ben Lochtenberg took the company through its transition in 1997 from being majority owned company by ICI PLC to being an independent Australian company.

Don Mercer joined Orica in 1997 as a non-executive director following his retirement from the ANZ Bank where he was group managing director and chief executive officer. Prior to his career with ANZ Don held a number of appointments with Shell International in the United Kingdom, the Netherlands, Canada, Indonesia and Australia.

'Orica is in challenging times and I intend to listen urgently to all our stakeholders,' he said on taking up his new appointment. 'The board will be closely examining all options and opportunities to deliver improved results and value for Orica's shareholders.'

Don Mercer is chancellor of RMIT University and chairman of Australia Pacific Airports Corporation. He is a director of CSIRO and the Australian Prudential Regulation Authority and is president of the Victorian College of the Arts.

Peter Duncan also takes up the position as chairman of the board's Audit Committee, succeeding Geoff Heeley in this role. Geoff Heeley resigned as of 1 May after serving as a non-executive director for eight years and as chairman of the board's Audit Committee for almost five years.

Peter Duncan is chairman of the Shell Group of Companies in Australia and was chief executive officer of the group until the end of 2000. He has worked with Shell International in Latin America, Europe, Asia, Australia and New Zealand in a range of finance and general managerial roles.

Half year dividend
Orica directors declared a fully franked interim dividend of 8 cents per share. Books close for the interim dividend on 14 June and the dividend will be paid on 5 July.

2001 Annual General Meeting
The meeting will be held in Melbourne on 19 December

Shareholder Calendar (dates subject to change)

  • Books close for 2001 interim dividend, 14 June 2001

  • 2001 interim dividend paid, 6 July 2001

  • Preference share dividend paid, 31 July 2001

  • Full year results and 2001 final dividend announced, 7 November 2001

  • Books close for 2001 final dividend, 26 November 2001

  • 2001 final dividend paid, 17 December 2001

  • 2001 Annual General Meeting, 19 December 2001 in Melbourne

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