- Augusta Receives takeover notice from Centuria Capital Group
- SeaDragon will be delisted from NZX soon
- SCT decides not to pay interim dividend for the year ending August 31, 2020.
After declining by 2.23% on Friday, S&P/NZX50 further declined by 0.38% to 10,864 on Monday. Amidst the uncertainties, few stocks on NZX performed well on June 15, 2020.
Let us look at few gainers and decliners of the day.
Augusta Capital Limited (NZX: AUG)
AUG Receives Takeover Notice from Centuria Capital Group
On Monday, 15 June 20, the company received a takeover notice from Centuria Capital Group to acquire shares that would be taking its holding to 100% of shares at a price of $1 per share.
- If Centuria goes ahead to make takeover offer, it should do within the time span that begins 14 days and ends 30 days after June 15, 2020.
- It is important to note that Centuria is not legally obliged to make an offer during that period. If it does not do so, its takeover notice would lapse.
As the takeover notice was announced to the market, the share price of the stock rose by 31.39% on Monday and closed at $0.900 per share. The company has a market capitalisation of around $149.19 million and the stock’s 52-week low and high is $0.640 and $1.95, respectively. The company has given a total return of ~35.11% in the time period of one month.
New Talisman Gold Mines Limited (NZX: NTL)
All of the company’s operations were restricted as the NZ government enforced complete lockdown on non-essential services. As of 28 April 2020, the Alert Level was reduced to Level 3 which permitted access to the site as long as distancing measures were possible. The company was compelled to postpone underground works until conformity with all NZ government constraints were achieved. The company has implemented a 20% reduction in salaries and fees which were introduced in the year 2019 while the global economy continues to remain uncertain.
The stock of NTL closed the day’s trading at NZ$0.008 per share on 15th June 2020, up by 14.29% on an intraday basis. The company has a market capitalisation of around $21.537 million. The company’s stock has given a total return of ~14.28% in the time period of three months.
New Zealand Oil & Gas Limited (NZX: NZO)
The company conducted a strategic review of the future direction. The effect on energy markets has been intense globally, as US oil prices recently went negative for the first time in history. The company has weathered this storm splendidly as it has portfolio weighted mainly towards gas and has a strong balance sheet.
Lately, the company signed many confidentiality agreements and is keenly assessing opportunities that fit within the parameters of the company.
The stock of NZO closed the day’s trading at NZ$0.560 per share on 15th June 2020, up by 9.80% from its previous closing price. The company has a market capitalisation of around $92.081 million and the stock’s 52-week low and high is $0.43 and $0.73, respectively. The company has given a total return of ~5.66% in the time period of one month.
Now, let us look at few decliners of the day.
SeaDragon Limited (NZX: SEA)
On 25th May 2020, there was an announcement that SEA will be delisting from the NZX Main Board. The final day of trading will be 25 June 2020. The ordinary shares of the company will get delisted and will stop to be quoted from June 29, 2020.
Notably, the stock has fallen by ~50.58% in the time span of past one month. On June 15, 2020, the stock declined by 16.00% on an intraday basis to NZ$0.042 per share.
Scott Technology Limited (NZX: SCT)
For the six months ended 29 February 2020, the company reported total revenue of $101.8 million and EBITDA of -$12.2 million. Net Loss After Tax stood at $(13.7) million. Net debt for the half year was at $20.2 million and the company has decided not to pay an interim dividend for the year ended 31 August 2020.
- The results reflect strong growth in the USA offset by softening economic conditions in key markets;
- Strong sales growth has been seen in the USA and in parts of the service business.
1HFY20 Results Summary Table (Source: Company Reports)
The stock of SCT closed the day’s trading at NZ$1.560 per share on 15th June 2020, down by 6.02% on an intraday basis. The company has a market capitalisation of around NZ$129.213 million and the stock’s 52-week low and high is $0.810 and $2.730, respectively. The stock price has corrected ~12.69% in the time period of one month.