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<WIRE> Brett Woods Appointed as Managing Director and CEO of Beach Energy (ASX:BPT)

Beach Energy (ASX:BPT) has announced the appointment of Brett Woods as its new Managing Director and CEO.

Additionally, Bruce Clement has been appointed as the interim Chief Executive Officer.

This reshuffling comes as Morné Engelbrecht ends his tenure as the CEO of the company.

Brett Woods is scheduled to commence his role as Managing Director and CEO on February 21, 2024.

Beach Energy is an Australian-based company that is responsible for oil and natural gas exploration and production.






<WIRE> Invocare (ASX:IVC) Enters Into Scheme Implementation Deed With TPG

Invocare (ASX:IVC) has announced its entry into a Scheme Implementation Deed with TPG.

Invocare shareholders are expected to receive A$12.70 per share in cash.

This cash consideration reflects a 42% premium to Invocare’s closing share price as of 6 March 2023.

Additionally, the Invocare board has unanimously recommended that shareholders vote in favour of the scheme.

The cash consideration reflects an implied equity value of A$1.8 billion and an enterprise value of A$2.2 billion.

TPG has informed Invocare that it plans to fund the cash consideration through equity committed by certain funds managed or advised by TPG.

Invocare has noted that the near-term macro environment remains challenging and market volumes have softened in Q2 FY23.

Despite this, the company has continued to see less week-to-week volatility in demand for its services during 1H FY23.

Invocare anticipates an operating EBITDA of between A$61 million to A$63 million for the first half of the year.

Shareholders are expected to receive A$12.70 per share in cash, inclusive of a fully franked special dividend of up to A$0.60 per Invocare share.

Invocare is a multinational company that provides funeral services.


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<WIRE> Newmark Property REIT (ASX:NPR) Forecasts FY24 Earnings and Distribution of 7.6 AU CPU

Newmark Property REIT (ASX:NPR) expects earnings and distribution to reach 7.6 AU CPU for the fiscal year 2024.

The real estate investment trust has declared and paid out distributions amounting to 9.0 AU cents per stapled security for the period spanning from 1 July, 2022 to 30 June, 2023.

Newmark Property REIT is a real estate company responsible for managing diverse commercial properties.


<WIRE> Australian Foundation Investment (ASX:AFI) Updates on Board Composition

The Australian Foundation Investment (ASX:AFI) recently announced several updates to its board composition.

Notably, Chairman John Paterson has declared that he will not be seeking re-election at the 2023 annual general meeting.

More leadership changes include the appointment of Craig Drummond as the new chairman.

Australian Foundation Investment is one of Australia’s largest listed investment companies, focusing on investing in Australian equities.



<WIRE> Syrah Resources (ASX:SYR) Gains on Samsung SDI Deal

Shares of Syrah Resources (ASX:SYR) rose 9.8% to A$0.703, hinting toward its best day since May 5 if the gains sustain.

The graphite producer has entered a deal with South Korea’s Samsung SDI for scrutinizing the supply of natural graphite active anode from Syrah’s Vidalia facility in the U.S.

As per the deal, both parties will test and qualify the active anode material in order to finalize a binding offtake agreement by July 10, 2024 at the latest.

Syrah has announced that the offtake agreement pertains to up to 10,000 tonnes of active anode material per annum, commencing from 2026.

Despite the surge, the company’s stock is down by approximately 68% YTD as per the last closing.

Syrah Resources is a graphite producer with key operations in the Vidalia facility in the United States.


<WIRE> Suncorp (ASX:SUN) Sees Drop as Dividend Misses Expectations

Suncorp (ASX:SUN) shares witness a significant decrease as much as 3.9% to a value of A$13.21, marking the largest intraday drop since March 20.

The insurance company announces a final dividend of A$0.27 per share, which falls significantly below the consensus expectation of A$0.40 per share.

SUN states that the reduced payout in FY23 is a result of delays in the sale of their banking division.

Last week, Australia’s competition regulator put the brakes on a buyout, worth A$4.9 billion, proposed by ANZ Group for the SUN banking branch.

ANZ and SUN have expressed intentions to seek a review of determination at the Australian Competition Tribunal, which, if approved, is expected to delay the completion until mid-2024 instead of the previously planned late 2023.

In addition, SUN releases its annual cash earnings of A$1.25 billion, showing an increase from A$673 million in the previous year and is in line with consensus estimates.

SUN’s shares show growth of 14.2% YTD, as of the last close.

Suncorp is a major insurance provider with a significant presence in Australia.