Holdings Update For Nanosonics Limited And Bravura Solution Limited

  • May 08, 2019 AEST
  • Team Kalkine
Holdings Update For Nanosonics Limited And Bravura Solution Limited

Under the Corporations Act, a substantial shareholder is an entity/person who owns 5% or more of the voting shares in a company. Let’s have a quick look at the announcements made by Nanosonics Ltd and Bravura Solution Ltd on the substantial shareholders changes.

Nanosonics Limited

Nanosonics Limited (ASX: NAN) was formed in 2000 and is domiciled in Lane Cove, Australia. The company has its operations spread across Australia, Europe, North America, and the Asia Pacific. It designs and develops decontamination products to be used for reducing the spread of infection. The company holds IP rights over sterilisation technology and special disinfection that can be deployed in several markets.

The company announced on 7th May 2019, that one of its substantial holders, Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder for the company, after notifying the company about becoming a substantial holder on 18th April 2019.

Further, NAN yesterday announced that effective from 2nd May 2019, another substantial holder, Morgan Stanley and its subsidiaries listed in Annexure A would no longer be the company’s substantial holders.

Earlier this year in February, NAN published its Half-Yearly Report for the period ending 31 December 2018. The sales for the period stood at $40,693,000 as compared to the sales of pcp $30,009,000 the Sales were up 36%. The gross profit too increased and amounted to $30,582,000 as compared to $22,334,000 in pcp.

On the technical front, the stock is trading at A$4.655 (as at 12:20 PM, 8th May 2019), down by 1.168% as compared to its previous close. In the last six months, the stock has provided a return of 54.92%, while the Year to date return stands at 69.42%.

Bravura Solution Limited

Bravura Solution Limited (ASX: BVS) is a provider of software products and services to clients operating in the wealth management, life insurance and funds administration industries. The group delivers options for expert services, including pension, investment, life insurance, private wealth, funds administration, etc.

On 7th May 2019, the company announced the issuance of 28,695,653 fully paid ordinary shares with an issue date of 8th May 2019 as part of the A$165 million equity raising via institutional placement to invest in growth opportunities. This comprised of the issue of almost 28.7 million shares at an issue price of A$5.75 per share.

The company also notified a change of interest of substantial holder. Wellington Management Group LLP and its related bodies corporate would now have 18,857,332 votes (8.80%) as compared to 24,094,840 votes (11.23%) previously held.

As per the reports released in the Investor Presentation on ASX, the company has earned $246 million over last year with the five-year revenue CAGR of 12% and ROE of 28%. In H1 FY2019, the company’s revenue was A$127.4 million, up 23.8% as compared to pcp. The EBITDA margin was 19%, while the ROA stood at 22%.

On the technical front, the stock is trading at A$5.920 (as at 12:20 PM, 8th May 2019), marginally up by 0.509% as compared to its previous close. In the last six months, the BVS has provided a return of 33.56%, while the Year to date return stands at 55.00%.


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