PBTA definition
PBTA means PB Towage (Australia) Holdings Pty Ltd, a harbour towage business operating in Australia and, as at the date of this announcement, wholly-owned by PB Towage Limited, an indirect wholly-owned subsidiary of the Company (the “Seller”); “PBTA Group” PBTA and its subsidiaries;
Examples of PBTA in a sentence
PBTA will cease to be a subsidiary of the Company following Completion of the Share Disposal.
The carrying value of PBTA excluding cash as at 31 October 2014 is AUD 75.4 million.
Based on the audited accounts of PBTA prepared in accordance with Australian Accounting Standards and Interpretations the net losses or profits before taxation and after taxation for the years ended 31 December 2013 and 31 December 2012 are AUD 2.3 million losses and AUD 7.0 million profits respectively.
The principal business activity of PBTA is the provision of harbour towage services in Australia.
DISPOSAL OF THE ENTIRE EQUITY INTEREST IN PBTA (THE “SHARE DISPOSAL”).