The Director's Commentary of the ASX.
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Sports science and analytics company, Catapult (ASX:CAT):
announce[d] that, following the release of GameTracker for the NBA, it has extended its full video suite to all NCAA and international basketball teams.
Elite sports, while very cool, is ultimately a very niche market.
Shares down 53.04% over the last year.
Online only book retailer, Booktopia (ASX:BKG):
has given Tony Nash notice to step down as CEO effective from close of business yesterday 13 July 2022.
Not a great way to start the conversation — let’s find out more:
The Company has just completed an internal business review focussed on, amongst other things, its overall strategy, efficiency and its cost structure.
Go on:
As part of this process, the Board has determined that retaining Tony Nash as the Chief Growth Officer, whilst at the same time appointing a new CEO was not in the best interests of the business going forward.
Rough! But wait, what’s this Chief Growth Officer business? I thought he was being fired as CEO? Turns out, he was already on his way out as CEO, all the way back in May — stepping away from day-to-day operations and transitioning into a newly created role.
The brutality continues:
Accordingly, the Board has given Tony notice to step away from executive management of the Company in order to enable a new CEO to enter with a fresh start […]
Get this:
[…] on well laid foundations.
The nicest thing they could say about the co-founder, who will continue to be a director and own 16.6% of the company.
So, who’s running the show now?
Geoff Stalley, the current CFO, has been appointed as the interim CEO until a new CEO is selected […]
Shares closed at 31 cents — down 4.62% on the day. Down 88.17% in the last year!
Listed real estate investment trust, Charter Hall Social Infrastructure REIT (ASX:CQE):
announce[d] the acquisition of a 50% interest in two newly constructed properties […]
What are the properties?
a TAFE campus and a specialist emergency medical facility located in Robina, Queensland.
How much?
$40 million which reflects a passing yield of 4.4% […]
Who bought the other 50% interest you ask? Oh, none other than:
Charter Hall Direct Long WALE Fund
Drop the ’d' this is FUN.
Additive manufacturing technology company, AML3D (ASX:AL3):
announce[d] the successful Placement of shares to a range of Sophisticated Investors, raising $2.68 [million] (before costs)
What were the costs?
They don’t tell us. But the shares were:
issued at $0.0714 per share, being a 10% discount to the volume-weighted-average-price [over the] 14 days prior
Gotta love it when three-significant figures gets you to four-decimal places.
The company mentioned not just, once, not twice, but three times, that it has ‘landmark’ supply agreements with Boeing (NYSE:BA) and ExxonMobil (NYSE:XOM) — someone is proud.
Genomics-based testing company, Genetic Technologies (ASX:GTG, NASDAQ:GENE):
has completed the acquisition of the direct-to-consumer eCommerce business and distribution rights associated with AffinityDNA
What a fun NASDAQ ticker: GENE!
Property management and development company, Lendlease (ASX:LLC):
and Mitsubishi Estate Asia have formed a joint venture to acquire the One Circular Quay development in Sydney for c.$800 million in up front and deferred consideration […]
Yes. THAT Mitsubishi.
But, what is One Circular Quay?
[it] comprise[s] of a 59-level luxury residential tower, with a second tower developed as a 220-room luxury hotel.
Exactly what we needed — more luxury residential apartment towers.
Mitsubishi Estate currently holds a 19.9 per cent interest in the joint venture. Subject to the satisfaction of certain conditions, this will increase to 66.7 per cent and Lendlease’s ownership will reduce to 33.3 per cent. […] The development is anticipated to be completed in FY27.
Can’t wait!
Freight rail transport company, Aurizon (ASX:AZJ):
welcomes today’s decision by the Australian Competition and Consumer Commission (ACCC) to approve Aurizon’s acquisition of One Rail Australia.
The acquisition was originally announced on 22 October 2021.
The ACCC has also:
accepted Aurizon’s undertaking to divest ORA’s east coast rail haulage business as part of the transaction.
Additive manufacturing company, AML3D (ASX:AL3):
announce[d] that the Company has received a further additional purchase agreement to develop and produce 3D printed components for The Boeing Company (NYSE:BA)
Boeing sure ain’t the company it used to be.
… key components will involve extensive printing of high strength Aluminium … aligned with the requirements of AS9100D quality assurance for “fly” parts.
For Boeing’s sake, let’s hope the 3D printed parts keep the planes in the air.
Technology-driven plant nutrition company, RLF AgTech (ASX:RLF):
has today commenced trading on the [ASX] under the ticker code ‘RLF’ following a A$8.5 million Initial Public Offering.
Details of the IPO:
The IPO raised A$8.5 million via the issue of 42.5 million shares at A$0.20 per share
A fertiliser company listing in middle of a fertiliser crisis — good timing.
Due to the ongoing conflict between Russia and Ukraine, the price of fertiliser is reaching all-time highs and farmers are struggling to keep up with the cost of production.
Health technology company, InteliCare (ASX:ICR):
announces important changes to its Board as part of the recent strategic restructuring of the business.
Including:
- ICR Founder and [Chair] Greg Leach to transition to Non-Executive Director
- Appointment of […] Dr Neale Fong as new Independent Non-Executive [Chair]
- Appointment of […] Cam Ansell as Independent None-Executive Director
- Appointment of an ICR Advisory committee
What is the new board getting paid?
[Chair] Fee - $90,000 per annum Non-Executive Director Fee — $45,000 per annum
See also: InteliCare (ASX:ICR) appoints new CEO from 9 days ago.
