Operational, board and management changes were made including the appointment of Gavin Taylor as Tahmoor Coal general manager to oversee the integration of the mine into the Centennial Group and meet coal production targets.

Further management changes included the departure at the end of the week of the current Tahmoor mine general manager and the marketing general manager.

A new Austral board was also appointed and included Paul Moy as chairman, Bob Cameron, David Moult, Robert Dougall and Roger Knight. Tony Macko was appointed company secretary.

Austral managing director Ugo Cario will step down at the end of the week.

Yesterday Centennial held 69% of Austral following its 10 for 37 scrip based takeover offer.

“We are delighted that a significant majority of Austral’s shareholders have accepted Centennial’s offer early. The merger will result in a stronger, more versatile coal company, well positioned to capitalise on the robust thermal and coking coal markets,” Centennial managing director Bob Cameron said.

“While Centennial has received acceptances for 69% of Austral shares, we urge remaining Austral shareholders to accept Centennial’s offer and retain their investment in the coal sector through a larger, diversified and well-funded group.”

Centennial’s offer closes April 22.