In today’s briefing:
- Blackmores (BKL AU) Signs SID with Kirin Holdings (2503 JP)
- Codan (CDA AU): Balancing Defence And Accelerated Preparedness
- Schrole Group Ltd – Strong Growth in Q1 Cash Receipts in a Usually Quiet Quarter
- Amaero International Ltd – No Surprises in Q3 Result, Focus on the UAE Greenlight
Blackmores (BKL AU) Signs SID with Kirin Holdings (2503 JP)
- Blackmores Ltd (BKL AU) has signed a Scheme Implementation Deed with Kirin Holdings (2503 JP) for the acquisition of 100% of Blackmores by way of a scheme of arrangement.
- The A$95/share offer is a 23.7% premium to the last close and is at least a 20% premium to most other VWAPs.
- Blackmores Ltd (BKL AU) intends to pay a fully-franked special dividend of A$3.34/share. This will enable eligible shareholders to benefit from franking credits of A$1.43/share.
Codan (CDA AU): Balancing Defence And Accelerated Preparedness
- The highly-anticipated Defence Strategic Review, released on the 24 April, clarifies the five key missions for the Australian Defence Force: maritime, land, air, space, and cyber.
- One takeaway recommended Defence balance the need for local content against its timely acquisition, suggesting increased off-the-shelf acquisitions. This may favour overseas contractors in place of the domestic industry.
- Codan (CDA AU), whose metal detectors and communications technology are used by the military, is one SME whose procurement speed may be scrutinised.
Schrole Group Ltd – Strong Growth in Q1 Cash Receipts in a Usually Quiet Quarter
- Schrole Group Ltd (ASX:SCL) is an Australian software company focused on providing human resource technology solutions to the international education and training sector.
- Schrole has developed a suite of five HR Software-as-a-Service (SaaS) offerings including the core product, Schrole Connect, a SaaS-based staff recruitment platform.
- Schrole Group has reported a 23% increase in quarter-on- quarter cash receipts to $1.29m and a narrowed operating cash loss of $0.37m, in what Is a seasonally quiet quarter for the company.
Amaero International Ltd – No Surprises in Q3 Result, Focus on the UAE Greenlight
- Amaero International Ltd (ASX:3DA) is a global specialist in metal additive manufacturing for the defence, aerospace, and other industrial sectors.
- The company has reported a Q3 operating cash loss of $3.33m which was in line with our expectations.
- The cash balance at the end of Q3 was $9.8m with an additional $2.05m in non-recurring cash payments has been received since the end of the quarter.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
