'It's their bread and butter': Top shareholder backs APA's full circle moment on gas
Contact's Tom Millner, one of APA's largest investors, has applauded the company for getting back to its core business as the political landscape changes.
One of APA Group’s largest shareholders has praised management for holding its nerve and walking away from large-scale renewables projects as it looks to focus on its expansive gas assets instead.
Contact Asset Management, which holds 10 million shares of the not widely owned APA via its listed vehicle BKI Investment Company, has backed the strategic shift as a wise investment decision by the company to "stick to its knitting".
“Doubling down on gas is a good move for APA. It's their bread and butter so it highlights the management's focus on the core business in my view,” portfolio manager and director Tom Millner told Capital Brief.
"We've been waiting for this to happen for a long time and it's finally come to a head."
