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S&P/ASX200 witnessed a marginal fall of 0.8 points to end the session at 6748.9 on September 24, 2019. On the same day, All Ordinaries encountered a fall of 0.1% or 4.5 points to close the dayâs session at 6856.6. We would now look at the performance of individual stocks on the Australian Securities Exchange. On September 24, 2019, CLINUVEL PHARMACEUTICALS LTD (ASX: CUV) ended the session in green, as the stock witnessed a rise of $1.080 per share or 4.32% on an intraday basis to end the session at $26.080 per share, while Gold Road Resources Limited (ASX: GOR) increased by 3.759% to end the session at A$1.380 per share. On the other hand, WiseTech Global Limited (ASX: WTC) and Treasury Wine Estates Limited (ASX:TWE) ended the day by falling 4.891% and 4.752%, respectively, on an intraday basis.
We have provided important information on material sector stocks. To view, please click here.
A Recent Update on Pioneer Credit Limited
Pioneer Credit Limited (ASX: PNC) has inked a Standstill Agreement with Commonwealth Bank of Australia trading as Bankwest and Westpac Banking Corporation. The following information is important for readers:
- Senior Financiers would not take any action in relation to existing defaults for the standstill period to October 14, 2019, unless extended.
- PNC has appointed Azure Capital in order to assess proposals received for realisation of value of its assets, including the change of control proposals.
Superloop to Raise Capital
Superloop Limited (ASX: SLC) has come forward and made an announcement about its plans to raise $90 million, as well as restructure its senior debt facility with banks. Under the amended & extended bank facility with ANZ Westpac, SLC has limit of $61.7 million for the term of 4 years. The following pointers need to be noted:
- A fully underwritten two-tranche placement to institutional investors in order to raise ~$55 million;
- A fully underwritten 1 for 6 entitlement offer of fully paid ordinary shares in Superloop to raise ~$35 million;
- Issue price for both offers is $0.82 per share.
Helloworld Travel to Acquire TravelEdge
Helloworld Travel Limited (ASX: HLO) has agreed to acquire privately held company, TravelEdge Group, which is one of Australiaâs largest corporate travel management entity. TravelEdge provides a range of services, including travel management, academic travel, event planning, and holiday and leisure services. The following needs to be noted by investors:
- Consideration for transaction is $28 million, which will be funded from the new bank facility;
- The acquisition would be earnings accretive in FY 2020 and beyond.
Air New Zealand Signs Contracts to Acquire Aircraft
Air New Zealand Limited (ASX: AIZ) has signed contracts for a multi-billion-dollar investment to purchase eight aircraft (Boeing 787-10 Dreamliner).
- Contracts would require shareholder approval at AGM on September 25, 2019;
- First aircraft is anticipated to arrive in late 2022 with remaining scheduled for delivery at intervals through to 2027.
CUV Daily Technical Chart (Source: Thomson Reuters)
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