Birimian Limited’s Securities Placed in a Trading Halt
A mineral exploration company,
securities were placed in a trading halt at the request of BGS, pending the release of an announcement related to the capital raising. As per the announcement on ASX, the securities will remain in a trading halt until 3 January 2019 or when the announcement in relation to the capital raising is released to the market.
In December 2018, the company signed a memorandum of understanding (MOU) with General Lithium Corporation (GLC) of China ahead of negotiating an offtake agreement for 200ktpa or approximately 55 percent of the planned capacity output of the Goulamina Lithium Project.
The company has also signed a letter of intent (LOI) with a specialist metallurgical, mining, research and development company Changsha Research Institute of Mining and Metallurgy which is located in China. Under the terms of LOI, both the companies will discuss the opportunities associated with the Goulamina Lithium Project in Mali, including but not limited to project finance, off-take, and EPC matters.
At the end of 30 September 2018, the company was having cash and cash equivalents of AUD$2.33 Million. In the last six months, the share price of the company decreased by 69.23 percent as on 28 December 2018. BGS’s shares last traded at $0.160 with a market capitalization of circa $41.46 million.
Ardent Leisure Group’s Securities Removed from ASX
On 31 December 2018, Ardent Leisure Group’s (ASX: AAD) announced that it will be removed from the official list of ASX Limited (“ASX”) from the close of trading on 31 December 2018 at the request of the AAD. The main reason behind the removal of AAD from ASX is the completion and implementation of the restructuring of the Group and admission of Ardent Leisure Group Limited, the successor entity of the Group, to the official list of ASX.
Earlier on 29 November 2018, the securities of the company were suspended from quotation after the New South Wales’ (NSW) Supreme Court lodged orders with the Australian Securities and Investments Commission (ASIC) approving the scheme of arrangement by which Ardent Leisure Group Limited will acquire 100 percent of the issued stapled securities in AAD.
The company’s pro forma financial results for FY18 reflected a net loss of $88.6 million. Further, the company’s Revenue from continuing operations increased by 16 percent in FY18. Corporate costs at the EBITDA level decreased from $19.2mn in FY 2017 to $15.6mn in FY 2018. During FY 2018, the company was also benefited from a favorable adjustment of Main Event’s deferred tax balances in connection with US tax reforms which have lowered the maximum US corporate income rate from 35% to 21%.
In the last one year, the share price of AAD decreased by 12.87 percent as on 29 November 2018. Before going into the suspension, AAD’s shares were last traded at $1.490 as on 29 November 2018.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.
