Live ASX News Today
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20th Sep 08:13 PM AEST
Telstra (ASX:TLS) to use Zoom2u (ASX:Z2U) for 2-hour deliveries
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The ASX-listed logistics company Zoom2u Technologies Limited (ASX:Z2U) announced today that it has agreed with Telstra Limited to use the Zoom2u platform for two hour delivery to Telstra’s customers directly from the Telstra stores.
According to the terms of the agreement, Telstra is under no obligation to meet any minimum volume or fee commitments, and the arrangement is not exclusive. The announcement has revealed that the use of the Zoom2u platform by Telstra is expected to be beneficial to the Company’s financial performance. However, the materiality cannot be quantified as it is dependent on delivery volumes via the Zoom2u platform.
Meanwhile, on the ASX, the Z2U stock closed 7.462% up at AU$0.720 per share today.
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20th Sep 08:04 PM AEST
Why AdAlta (ASX:1AD) shares posted huge gains on ASX today
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ASX-listed biotechnology Company AdAlta Limited (ASX:1AD) announced that it has executed a AU$4.0 million non-dilutive funding facility with Treasury Corporation of Victoria (TCV) as part of the Victorian Government’s R&D Cash Flow Loan Initiative.
AdAlta’s Facility is one of the first awarded under the Initiative. It is to be noted that the clinical stage drug discovery company is developing novel therapeutic products from its i-body platform.
According to today’s announcement, the Facility will be received in two tranches: the first of AU$2.4 million is likely to be received by 30 September 2021; and the second of up to AU$1.6 million in the quarter ending 31 March 2022.
Today, the stock 1AD closed 6.382% higher at AU$0.100 per share on ASX.
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20th Sep 08:01 PM AEST
ASX nosedives 2% as iron ore rout continues; BHP, Rio, Fortescue bleed in red
The Australian shares ended sharply lower for the second straight session on Monday as weak commodity prices dragged blue-chip mining and energy stocks. The tech stocks also reeled under selling pressure, mirroring weakness in the US counterpart, NASDAQ Composite. The caution prevailed in the market ahead of the US Fed meeting as investors seek clarity on bond tapering program. Adding to it, the persistent COVID-19 situation in the country as well as bearish cues from global peers also dented market sentiment.
The benchmark index,?the ASX 200, ended?155.50 points or 2.1% lower at 7,248.20, led by material and energy stocks.?Early today, the index opened lower and declined as much as 2.3% to hit a low of 7,233.60, setting a new 20-day low.
On the sectoral front, all the indices ended in negative terrain, barring utilities, led by materials with a 3.6% loss. The material sector emerged as worst performer for the second straight session as continued fall in iron ore prices dragged mining stocks to record low. Index heavyweight BHP Group (ASX: BHP) dropped over 4% to hit its lowest level since the beginning of this year. Rio Tinto (ASX: RIO) fell over 3% to its lowest in 10 months, while Fortescue (ASX:FMG) also slipped over 3%.
Material was followed by the energy sector, which skidded 2.7%, owing to a fall in crude oil prices. Crude oil prices remained under pressure as easing threat of storm in the US exerted pressure on the prices. Among others, information technology, financial fell over 2%, while consumer discretionary, A-REIT, industrial and telecom settled with over 1% loss.
Bucking the trend, utilities sector emerged as lone gainer, rising 1.4% in an otherwise weak broader market.
The worst performer on the ASX pack was iron ore explorer Champion Iron (ASX: CIA), which ended 12.5% lower. Some of the other top laggards were Nickel pig iron producer Nickel Mines (ASX: NIC), lithium miner Pilbara Minerals (ASX: PLS), resource company Lynas Rare Earths (ASX: LYC) and mineral explorer Orocobre (ASX: ORE).
Meanwhile, energy firm AusNet Services (ASX:AST) emerged as top gainer by rising 18.7%. Some of the other top performers were alcoholic drinks retailer Endeavour Group (ASX: EDV), agro firm Nufarm (ASX:NUF), Auckland International Airport (ASX: AIA) and health care firm Healius (ASX: HLS).
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20th Sep 07:58 PM AEST
Sunshine Gold (ASX:SHN) to raise A$5 million
ASX-listed mineral exploration company Sunshine Gold Limited (ASX:SHN) announced that it has secured commitments to place AU$4,685,000 million before costs. The company would place its share at AU$0.045 per share to institutional and sophisticated investors.
Key highlights:
- The announcement has revealed that the directors will be contributing AU$315,000 to the Placement. However, it is subjected to shareholder approval. A further contribution of AU$162,000 through the exercise of options, bringing their total investment to AU$2.8 million.
- The raised funds would be utilised for:
- The drilling programme at Titov and reconnaissance drilling at Keans are both large-scale Cu-Mo-Au-Ag prospects at Ravenswood West.
- To infill and carry put extensional drilling at Triumph to deliver a maiden JORC Resource in early 2022;
- To continue SHN’s ongoing field activities and news flow from Hodgkinson, Investigator, Ravenswood West and Triumph.
Meanwhile, on the ASX, the SHN stock closed tad lower at AU$0.052 per share today.
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20th Sep 07:50 PM AEST
Advanced Human imaging (ASX:AHI) gets additional patent protection in NZ
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The ASX-listed data-driven solution provider Advanced Human Imaging Limited (ASX:AHI) announced the positive outcome regarding examining its New Zealand Patent for Imaging a Body.
AHI has successfully executed additional patent coverage for its technology suite in imaging a human body. The Company currently holds New Zealand Patent # 731721, which the New Zealand Intellectual Property Office granted on 31st August 2021.
Meanwhile, on the ASX, the AHI stock closed 5.469% lower at AU$1.210 per share today.
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20th Sep 07:43 PM AEST
Energy Technologies (ASX:EGY) raises A$11 million to buy raw material
The ASX-listed manufacturer and seller of special industrial cables Energy Technologies Limited (ASX:EGY) announced a capital raising of up to AU$11 million, which comprises of a non-renounceable AU$11 million Rights Issue, underwritten to AU$6 million at an issue price of AU$0.11 per share.
The raised funds will be utilised in the following ways:
- Expedite the implementation of the Silicon Line Machine as revealed on 15 January 2021.
- Payback the outstanding debt obligations.
- Restructure, in part, the operating business.
- Provide working capital for the growth of the Company.
Meanwhile, on the ASX, the EGY stock closed at AU$0.120 per share today.
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20th Sep 07:39 PM AEST
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20th Sep 07:34 PM AEST
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20th Sep 07:19 PM AEST
Pearl Gull (ASX:PLG) completes A$4 million IPO
The ASX-listed mineral exploration company Pearl Gull Iron Limited (ASX:PLG) announced that it has completed its oversubscribed IPO, raising AU$4 million at 20 cents per share. It has received support from institutional investors.
Pearl Gull intends to target a premium iron ore development on Cockatoo Island (WA) and is currently focusing on completing a diamond drilling campaign at the project, initially at the Switch Pit target and subsequently at the North Bay target.
PLG's diamond drilling program began in July 2021 along strike from the known mineralised ore body (Switch Pit) and across the island's northern side (North Bay), targeting high-grade structural repeats. PLG has also shared that the Company webinar will be held on 21 September at 12:30 PM AEST.
Meanwhile, on the ASX, the PLG stock closed, 12.50% lower at AU$0.175 per share today.
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20th Sep 06:06 PM AEST
Universal Biosensors (ASX:UBI) extends clinical development trials for Tn Antigen
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The ASX-listed healthcare company Universal Biosensors Inc. (ASX:UBI) announced that it has entered into agreements with Victorian Cancer Biobank and the internationally recognised Centre for Cooperative Research in Bioscience CIC bioGUNE – BRTA to initiate clinical studies for its cancer biosensor, Tn Antigen (Tn). UBI has revealed that the studies will be conducted in Melbourne and Bilbao, Spain.
UBI mentioned that its objective is for the handheld Tn biosensor to accurately measure a patient’s cancer status in easier, cheaper and more frequent tests. Ultimately the Tn biosensor has the potential to be used for early cancer diagnosis and disease staging.
UBI also informed that the trials will include a total number of 280 patients and will be conducted under Good Clinical Practice.
Meanwhile, on the ASX, the UBI stock closed 3.489% lower at AU$0.830 per share today.
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20th Sep 05:59 PM AEST
Bionomics’ (ASX:BNO) compound under trial for Acute Treatment of Social Anxiety Disorder
The ASX-listed healthcare company Bionomics Limited (ASX:BNO) announced today that it has decided to make progress with evaluating its lead clinical compound, BNC210, for acute treatment of Social Anxiety Disorder (SAD). It forms a part of its broader pipeline expansion strategy of the Company and is based on anti-anxiety signals in Generalised Anxiety Disorder (GAD) patients.
The Company has planned to commence the clinical trial by the end of this year.
Key highlights:
- BNO has shared in the announcement that the rapid oral intake of BNC210 novel tablet formulation has shown excellent results for acute treatment of anxiety in patients with Social Anxiety Disorder.
- The Company has also announced that the phase 2 clinical trial will start by the end of 2021 and is expected to read out topline data by the end of 2022.
Meanwhile, on the ASX, the BNO stock closed 2.942% lower at AU$0.165 per share today.
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20th Sep 05:54 PM AEST
Broadened Austin (ASX:ANG) product range supports A$30 million contract wins
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The ASX-listed Global mining equipment design and manufacturer, Austin Engineering Limited (ASX:ANG), announced that it has recorded circa AU$30 million in new contract wins in August 2021 for product and service delivery in Australia, the USA, Indonesia and Chile.
Key highlights:
- Austin has won a contract worth AU$4.5 million underground mine products to supply five underground mine chute structures to PT Freeport Indonesia’s operations at Grasberg, Tembagapura, Papua, Indonesia.
- Austin has won an AU$10 million contract of three-year mining equipment support with KGHM to supply truck bodies and buckets to its Sierra Gorda open-pit copper and molybdenum mine in Chile.
- Moreover, Austin has shared that it has received contracts for 27 truck bodies, five ore chutes and three water tanks, plus other equipment in August 2021.
Meanwhile, on the ASX, the ANG stock closed 4.348% lower at AU$0.220 per share today.
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20th Sep 05:05 PM AEST
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20th Sep 04:34 PM AEST
Matrix (ASX:MCE) closes over 15% up on new contract award
Oil and Gas sector-focused, Engineering service provider Matrix Composites & Engineering Ltd (ASX:MCE) is continuing its rally of contracts with a new one worth around AU$4.2 million.
The contract is from Transocean Ltd for the upgrade of drilling riser buoyancy to ultra-deepwater drillship modules. Transocean Ltd is a global offshore drilling contractor headquartered in the United States. The bulk of the order is scheduled for completion and delivery by December of FY22.
The contract is an addition to MCE’s two contracts of other new riser buoyancy projects worth around AU$5 million, announced in July 2021. Also in the international deep-sea drilling sector.
As per the announcement, MCE is seeing increasing activity in the oil and gas sector. It also expects offshore oil and gas spending to rebound this year as it has already started to see that flow into the level of enquiries for new work. MCE has already received almost AU$10 million in drilling riser buoyancy awards in the last three months, up for execution in the ongoing half of the year.
As a result, MCE shares closed 15.384% higher at AU$0.150 per share today.
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20th Sep 03:49 PM AEST
Xero (ASX:XRO) announces leadership changes ahead of H2-22 results
Cloud-based accounting software - Xero Limited (ASX:XRO) has appointed Damien Coleman as its new Company Secretary effective today. The leadership change comes ten days ahead of its half-yearly results for FY22, ending 30 September 2021.
Chaman Sidhu, former Chief Legal Officer & Company Secretary holding the office since 2016, will continue as Xero’s Chief Legal Officer. He will now be focused on group governance and be responsible for it.
The newly appointed Damien Coleman brings to XRO a rich leadership and management experience of more than 20 years in senior general counsel and company secretary roles with ASX listed businesses.
XRO was spotted trading 4.102% lower at AU$147.050 per share at 3:30 PM AEST.
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20th Sep 03:30 PM AEST
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20th Sep 03:18 PM AEST
Hong Kong’s Hang Seng crashes 4%
Hong Kong’s Hang Seng emerged as the worst performer in the Asia-Pacific region with a sharp loss of 3.9%, its biggest loss since late July. China’s real estate crackdown rippled through markets, with shares of beleaguered Chinese developer China Evergrande Group falling over 17%, followed by Henderson Land Development, which dropped 12%. The Hang Seng Properties index nosedived 7% to hit to hit a 52-week low amid looming fear that China will Fears of contagion from China Evergrande Group continued to intensify its property clampdown to the financial hub.
Hang Seng was followed by Indonesia’s Jakarta Composite, which fell 1.2%. the Straits Times in Singapore dropped 0.45%, while Thailand’s SET Composite traded 0.55% lower. Taiwan’s Weighted Index also traded marginally lower.
Shares in the Asia-Pacific region witnessed bearish trade on Monday, tracking weak cues from Wall Street. This week is going to be powerpack as nearly a dozen of central bank will hold their meeting, led by the US Federal Reserve which will announce its monetary policy on Wednesday. Markets in Japan, South Korea and mainland China were closed for holidays.
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20th Sep 02:18 PM AEST
Shares of HT&E Limited (ASX:HT1) are trading substantially lower. Here’s why
The ASX-listed media and entertainment company HT&E Limited (ASX:HT1) announced on Monday that the shareholders of Soprano Design Limited have decided to terminate negotiations to complete the sale of Soprano to Link Mobility Group Holdings AS.
As per the announcement of 18 May 2021, the shareholders in Soprano, wherein HT&E Limited held a 24.9% stake, had signed a non-binding term to sell 100% of shares in Soprano to Link Mobility. Link is a global CPaaS provider listed on the Oslo stock exchange.
After four months of extensive and protracted negotiations towards a binding transaction, the parties could not agree on terms to be documented to create a legally binding agreement.
The disagreement was caused because Soprano shareholders intended to proceed on the terms recorded in the non-binding term sheet. In contrast, Link Mobility proposed new terms and conditions that, when considered alongside recent Link Mobility share price volatility and increased debt, were not in the interest of Soprano shareholders.
Meanwhile, on the ASX, at 2:00 PM AEST, the HT1 stock was spotted trading 3.108% lower at AU$1.715 per share.
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20th Sep 02:08 PM AEST
Nickel hits seven-year highs on strong demand and tight supplies
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Nickel prices surged to seven-year high levels on Friday due to supply concerns followed by the Indonesian government is looking at taxes on the ingredients used in steel manufacturing. The prices of metal used heavily in the production of electric vehicle batteries have touched US$20,705 per tonne during the last week, the highest since May 2014.
The terrific rise in nickel prices is primarily associated with its robust demand and tight supply. However, the idea of the Indonesian government to impose a tax on the export of the metal has additionally fuelled the prices of nickel. The country is exploring the possibility of levying an export tax on nickel products with less than 70% nickel to boost the country's domestic processing industry.
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20th Sep 01:57 PM AEST
Oil falls on US crude oil recovery
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Crude oil prices inch lower on Monday after registering a 3% weekly gain in the last week. The prices tumbled as oil and gas firms resumed operations in the US Gulf of Mexico followed by two consecutive hurricanes in the region. November delivery Brent Crude oil futures last traded at US$75.04 per barrel down 0.36%, whereas November delivery WTI crude oil futures traded 0.47% down at US$71.48 per barrel as of 20 September 2021 at 10:27 AM AEST.
The prices gained momentum in the last week due to the supply disruptions and rapid drawdown in the US inventories. With US operations resuming production, the supply streamlined, cooling oil prices. However, the drop in prices is partially offset by the rise of the US dollar to multi-week highs on Friday, making crude oil expensive for other currency holders.
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20th Sep 01:45 PM AEST
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20th Sep 01:30 PM AEST
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20th Sep 01:26 PM AEST
Hiring Blitz: Australia Post to recruit nearly 5000 workers ahead of Christmas
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At a time when retrenchments and layoffs have become a piece of daily news across the globe in the wake of the Coronavirus pandemic, here is good news for job seekers in Australia. In the latest development, Australia Post has said that it needs to recruit nearly 5000 people to keep up with the increasing demand given the drastic increase in online shopping.
The Australian postal service has stated that the vacancies include 1600 additional permanent and fixed-term jobs around the country and some 3300 Christmas casual roles.
This is the second time in less than a month that Australia Post has announced new hirings. The recruitment drive also aims to strengthen processing and deliver capacity just a few months ahead of the Christmas festival.
Last month, the country's postal service had said that it would recruit 4000 new team members to manage the soaring parcel volumes.
With over two million parcels being delivered every day, the hiring blitz comes as positive news for those looking for employment opportunities in the country.
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20th Sep 01:17 PM AEST
ASX plummets 1.5% on mining woes; BHP, Rio, Fortescue fall
The Australian shares have fallen sharply by afternoon as plunge in commodity prices and weak global cues dampened market sentiment. A slump in iron ore prices dragged the blue chips mining stocks such as Fortescue Metals, BHP, Rio Tinto, South32 and Mineral Resources. The concerns over corporate tax hike in the United States, worries about COVID-19 cases, and possible shifts in the Federal Reserve's timeline for bond tapering also left investors jittery.
The benchmark index,?the ASX 200, was trading 111 points or 1.50% lower at 7,292.40, by lunch. The index opened sharply lower today, tracking weak cues from Wall Street which ended lower on Friday amid tax hike fears. The S&P 500 fell 0.91%, while the Dow Jones dropped 0.48%. The NASDAQ Composite settled 0.91% lower.
On the sectoral front, ten of the 11 indices were trading in red zone.?The material sector was the worst performer with a 3.3% loss, owing to sharp fall in iron ore prices. The price of iron ore has halved to US$100.80 a tonne on Friday, from US$230 per tonne in May this year. last week, the iron ore prices fell nearly 22% after China curbed steel production.
Material was followed by energy and tech sectors, which dropped over 2%. Among others, financial, telecom, consumer staples and A-REIT also witnessed a surge in selling activities.
Bucking the trend, utilities sector was the lone gainer, rising 2.2% in an otherwise weak broader market.
The top loser on the ASX pack was iron ore explorer Champion Iron (ASX: CIA), which tumbled 8.8% by the lunchtime. Some of the other notable losers were Nickel pig iron producer Nickel Mines (ASX: NIC), lithium miner Pilbara Minerals (ASX: PLS), resource company Lynas Rare Earths (ASX: LYC) and blue chip iron ore miner Fortescue Metals Group (ASX:FMG).
On the gaining side, energy player AusNet Services Limited (ASX:AST) topped the chart with a 19% gain. Some of the other top performers were alcoholic drinks retailer Endeavour Group (ASX: EDV), waste management firm Cleanaway Waste Management (ASX: CWY), consumer discretionary business G.U.D Holdings (ASX: GUD) and Australian bank Tyro Payments (ASX: TYR).
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20th Sep 12:01 PM AEST
Strike Energy’s (ASX:STX) Project Haber to deliver additional benefits
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ASX-listed energy and fertiliser Company, Strike Energy Limited (ASX:STX) has announced that Project Haber has passed a major engineering milestone which has delivered additional carbon, capital, and technology benefits.
The Energy Company stated that Engineering firm Technip Energies has recently completed the base scope Pre-FEED study on Project Haber, a 1.4 mtpa ammonia to urea production facility to be located in Narngulu Industrial Area of Geraldton, Western Australia.
The Pre-FEED study has delivered a 6% reduction on the expected capital cost compared to the original Technip Energies feasibility report completed in January 2021. Pre-FEED capital estimates represent a base cost estimate of US$1.64 billion, which includes the engineering, procurement and construction of the Haber plant delivered on site in Narngulu.
The Company informed that it will now progress FEED early works scopes, which includes geotechnical and environmental surveys, impact assessments and various other agreements and studies on the water supply, logistics, port, construction camp and raw gas pipeline. Strike expects to conclude the majority of these activities prior to drilling South Erregulla-1 (SE-1) in Q4/21.
The shares of Strike Energy Limited traded at AU$0.295 per share, down 1.6% at 11.45 AM AEST.
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20th Sep 11:57 AM AEST
Epsilon (ASX:EPN) receives first order worth A$540K under The Valens’ partnership
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The ASX-listed healthcare company Epsilon Healthcare Limited (ASX:EPN) announced that the first orders under its exclusive strategic partnership with The Valens Company have been received, totalling AU$540,000.
As per the release, the orders are for white-labelled cannabis products in various formulations, produced at Epsilon’s Southport Facility, to be sold in Australia and New Zealand.
Epsilon expects to complete delivery of the first two pallets of these products within the coming week, with further deliveries expected to be completed early calendar 2022.
Meanwhile, on the ASX, the EPN stock was spotted trading 6.667% lower at AU$0.140 per share at 11:50 AM AEST.
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20th Sep 11:54 AM AEST
TNT Mines (ASX:TIN) completes Due Diligence on Mt Ida Acquisition
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On Monday, ASX-listed mining exploration Company TNT Mines Limited (ASX:TIN) announced that it has successfully completed legal, financial and technical due diligence on Mt Ida Gold Pty Ltd and the Mt Ida Gold Project. This is in respect to the acquisition of 100% of the issued capital in Mt Ida Gold Pty Ltd.
Mt Ida Gold Pty Ltd is a fully owned subsidiary of Ora Banda Mining Ltd (ASX:OBM).
As stated in an earlier announcement dated 7 September 2021, Mt Ida Gold Pty Ltd is the holding company of the Mt Ida Gold Project, which comprises 19 tenements in the historical Mt Ida gold mining district, which is located nearly 100km north-west of Menzies in the WA goldfields.
At the beginning of this month, the Company signed a non-binding agreement with OBM to enter into exclusive negotiations regarding an offer to acquire the Mt Ida Gold Project.
On the ASX, the stock TIN was spotted trading 5.882% higher at AU$0.270 per share at 11.20 AM AEST.
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20th Sep 11:26 AM AEST
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20th Sep 11:15 AM AEST
Transurban (ASX:TCL) to acquire entire WestConnex for A$11.1 billion
Toll road operator company Transurban Group (ASX:TCL) announced on 20 September 2021 that Sydney transport partners (STP) are taking its ownership in Westconnex to 100% by acquiring the remaining 49% equity from the NSW government for AU$11.1 billion.
About WestConnex
It is a critical part of the NSW government’s integrated transport plan for Sydney. Transurban owns 50% of STP; it provides WestConnex with operational services under a master services agreement (MSA) in exchange for the use of centralised Transurban customer and corporate systems.
Acquisition highlights
- The ownership extends TCL's weighted average concession life to around 30 years.
- WestConnex free cash generation is expected to support long-term group free cash generation and distributions for security holders.
- Transurban expects to receive over AU$600 million of capital releases until FY25 from the increased holding in Westconnex.
- The acquisition will add on to free cash per security and be slightly dilutive.
- The acquisition will be funded by a new equity raise of AU$4.22 billion by TCL, including AU$3.97 billion through a fully underwritten entitlement offer.
- Acquisition will be funded by STP with no additional debt funding.
In addition to this, the TCL board has agreed to distribute 15 cents per share for the six months ending 31 December 2021. New securities issued under entitlement offer and placement will be entitled to this.
TCL shares last traded at AU$14.180 per share on the ASX and currently, the stock is witnessing a trading halt.
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20th Sep 11:11 AM AEST
Etherstack (ASX-ESK) awarded first AT&T contract, shares zoom up on ASX
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Today, the shares of ASX-listed Etherstack Plc (ASX-ESK) gained over 10% after the wireless communications technology company announced that that its US subsidiary, Etherstack Inc., has secured an initial order with AT&T.
Which ASX stocks are on investors radar today?
The order covers the supply of Etherstack software licences and equipment, along with the provision of associated integration and professional services, together with a small amount of third-party material. The value of the order is approximately AU$575k, with the delivery and associated revenue expected to be fully recognised in the current financial year (ending 31 Dec).
The stock ESK was spotted trading at AU$0.595 per share on ASX at 10.40 AM AEST.
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20th Sep 10:55 AM AEST
Shares of Food Revolution (ASX:FOD) surge on brand expansions
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The share price of Food Revolution Group Limited (ASX:FOD) gained more than 4% as the food and beverage firm updated the market on the consumer demand and distribution growth for its range of Original Juice Black Label, Juice Lab Wellness Shots and Juice Lab Carbonated Beverages.
Juice Lab Wellness Shots distribution network with Coles; increases to over 1,000 stores.
- Juice Lab wellness shots launch sales have been exceeding both FOD and Retailers’ expectations.
- Juice Lab now have a 70% share of the fast-growing ‘functional shots’ category.
- The increased consumer demand and success of the Juice Lab brand has seen Coles commit to increase the distribution of the range from 477 stores to over 1,000 stores nationally.
- The new products will be ranged in store from late Q1 FY22 and are anticipated to run across the peak summer beverage season.
Expansion of Original Black Label range in Coles & Woolworths.
- The Original Juice Black Label (OBL) is an iconic Australian brand. OBL continues to perform strongly in market, enjoying double digit sales growth reflecting its strong brand heritage and customer loyalty.
- The Company is launching an OBL range extension including a new 50% less sugar Original Black Label 1.5ltr range (Orange & Apple) and New Original Black Label Apple range.
- The products will be in market from the end of September 2021 and have been accepted by both Coles and Woolworths.
Meanwhile, the stock was trading 4.166% higher at AU$0.025 per share at 10:50 AM AEST on the ASX.
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20th Sep 10:45 AM AEST
Charter Hall (ASX:CHC) acquires 50% of ALE Property Group
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ASX-listed property investment Company Charter Hall Group (ASX:CHC) announced on Monday that Charter Hall Long WALE REIT (CLW) and a Charter Hall managed trust on behalf of Host-plus Pty Limited (Hostplus), together have agreed wo buy ALE Property Group (LEP).
Together, CLW and the trust will own 50% of the ALE Property Group.
Today’s announcement also revealed that CLW has acquired two industrial units in Sydney and Brisbane with WALEs for a total purchase price of approximately AU$67 million. Besides, CLW has also reconfirmed its forecast FY22 operating earnings per security (OEPS) guidance of no less than 4.5% growth over FY21 OEPS.
The deal is likely to be executed in mid-December.
Meanwhile, the stock CHC was spotted trading at AU$17.650 per share, down 1.5% at 10:30 AM AEST.
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20th Sep 10:44 AM AEST
ASX 200 kicks off the week with a deep cut; AusNet soars over takeover bid
The Australian share market has started the week on a negative. Tech stocks are weighing down the index, taking cues from a lower closing on Wall Street on Friday. Local miners and energy shares are also spoiling the sentiments due to weaker commodity prices. The benchmark index, the ASX 200 was trading 36.5 points or 0.49% lower at 7,367.2, during the opening session.
Top ASX 200 losers for the day were both miners – Champion Iron Limited (ASX:CIA) and Fortescue Metals Group Limited (ASX:FMG), both losing 5.68% and 5.5%, respectively. A few stock trying to hold the index from falling were AusNet Services Limited (ASX:AST) and Ingenia Communities Group (ASX:INA), both gaining 19.95% and 2.05%, respectively.
Which ASX stocks are on investors radar today?
Real estate investment company, Charter Hall Group WALE REIT (ASX:CLW) along with a Charter Hall managed trust has agreed to acquire a 50% stake in ALE Property Group through a consortium. The acquisition deal is expected to be executed in mid-December 2021.
Australian energy company, AusNet Services Limited (ASX:AST) has received a takeover bid from Brookfield Asset Management at AU$2.5 per share, valuing the company at AU$9.6 billion, and will be reduced to the extent of any dividend being declared to the shareholders before the deal.
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20th Sep 10:36 AM AEST
iCandy (ASX:ICI) acquires major shareholding in Mighty Kingdom (ASX:MKL)
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The ASX-listed developer and publisher of mobile games and digital entertainment, iCandy Interactive Limited (ASX:ICI), announced today, that it has acquired 11,781,362 shares of the ASX-listed game development company Mighty Kingdom Ltd (ASX:MKL). The total number of shares constituted 7.8% of the total percentage of ordinary shares of Mighty Kingdom.
Which ASX stocks are on investors radar today?
The acquisition was completed by ICI at AU$0.135 per Mighty Kingdom ordinary share. It costed a total of AU$1.59 million and is funded by the existing cash reserves of iCandy.
The acquisition is significant as it fits with iCandy’s strategy of expanding its reach within the gaming sector in the region while driving value through collaboration and partnerships with strategic partners.
Meanwhile, on the ASX, the ICI stock was spotted trading at AU$ 0.073 per share at 10:20 AM AEST.
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20th Sep 10:15 AM AEST
AusNet (ASX:AST) gets takeover proposal from Brookfield, shares zoom up
Victorian transmission network owner AusNet Services Ltd (ASX:AST) has received an unsolicited, non-binding proposal for acquisition from an infrastructure affiliate of Brookfield Asset Management.
Offer details
Brookfield seeks to acquire all issued shares of AST at an indicative price of AU$2.50 per share, which may be reduced by dividend declared/paid by Brookfield to its shareholders before transaction. The indicative offer price of AU$2.50 represents a premium of 26% to AST’s closing price as of 17 September 2021. The proposal is conditional to due diligence, FIRB (Foreign Investment Review Board) approval, unanimous support and recommendation by the AST board, and a scheme implementation deed execution.
AST’s stand
After careful consideration and consultation, the AST board considers the proposal in the best interests of shareholders and shall further engage with Brookfield on it. Accordingly, AST will allow Brookfield an exclusive due diligence. For this, both have signed an agreement.
AST has conveyed the proposal terms to the two major shareholders, Singapore Power and State Grid.
AST is being advised by Adara Partners and Citi as financial advisers and by Allens as legal advisers.
AST shares were spotted trading at AU$2.380 per share, up 20.202% at 10:20 AM AEST.
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20th Sep 10:06 AM AEST
Dubber (ASX:DUB) acquires world class AI technology company Notiv
Technology giant Dubber Corporation Limited (ASX:DUB) announced today that it has acquired Brisbane, Australia based technology group Notiv.
Notiv is a developer of innovative cloud-native AI-based products that turn meetings into transcribed notes, summaries, signals, actions, and more.
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Notiv will be available to Dubber Foundation Partners, select service and solution providers and sold alongside other Dubber solutions for businesses and Government.
Key Transaction Terms:
- Dubber has acquired Notiv via purchasing of Pinch Labs, Inc.. This is a US corporation that wholly owns and operates the Brisbane-based operations and technology.
- Aggregate consideration of approximately AU$6.6 million.
- AU$5.15 million will be paid in cash at completion and the balance is to be satisfied by way of the issue of 386,277 Dubber fully paid ordinary shares at AU$3.75 per share.
- Key management and employees are to stay with the business.
The stock DUB was spotted trading last at AU$4.030 per share on the ASX.
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20th Sep 10:05 AM AEST
ASX to open lower; AusNet Services, Transurban shares in focus
Australian share market is expected to open lower on Monday, as trends on ASX futures indicate a negative opening for the benchmark index, the ASX 200. The market is set to follow weak cues from Wall Street which ended sharply lower in a broad sell-off on Friday. The persistent worries over corporate tax hike in the United States, continued rise in COVID-19 cases, and possible shifts in the Federal Reserve's timeline for bond tapering will keep investors on edge. The outcome of Federal Open Market Committee (FOMC) meeting, slated to be held on September 21-22, will set the tone for the market this week.
Among the individual stocks, shares of Charter Hall Long WALE REIT (CLW), AusNet Services and Transurban will be in focus following their ASX announcements. While Charter Hall Long WALE REIT has agreed to acquire ALE Property Group, AusNet Services received a AU$2.50 per share takeover bid from Brookfield Asset Management. Meanwhile, Transurban has informed its shareholder that the Sydney Transport Partners (STP) has acquired the remaining 49% shares in WestConnex, raising its stake to 100%.
Last Friday, the Aussie market ended lower as slump in iron ore prices hammered the share price of blue chips miners such as BHP Group (ASX: BHP), Rio Tinto (ASX: RIO) and Fortescue (ASX:FMG). The ASX 200 fell 56.50 points or 0.76% to close at 7,403.70 points, led by sharp sell-off in material and energy stocks. Six of 11 sectoral indices ended in negative terrain, while material sector witnessed a sharp loss of 4.3%. Among others, energy, utilities, financial, consumer staples and A-REIT also saw surge in selling activity. Bucking the trend, information technology was the biggest gainer, followed by health care, consumer discretionary and industrial sectors, among others.
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20th Sep 10:05 AM AEST
Infinity Lithium (ASX:INF) delivers First Battery Grade Lithium Hydroxide
Infinity Lithium Corporation Limited (ASX:INF) announced on 20 September 2021 that the metallurgical test work has now produced battery grade lithium chemicals from the San José Lithium Project.
The release stated that the ongoing discussions with OEMs and strategic partners in Europe have highlighted the strategic benefits of optionality for battery grade lithium chemicals. This is in response to evolving cathode technologies and market segment applications for both battery grade lithium hydroxide and carbonate.
Prior test work at San José has already delivered battery grade lithium carbonate and the delivery of battery grade lithium hydroxide. A parallel line of Feasibility Study test work already underway shows the optionality of San José.
Meanwhile, the stock INF traded last at AU$0.115 per share on the ASX.