Daily Brief Australia: Dexus Property, Mineral Resources, Auswide Bank and more

• There could be two or three Aussie names that are deleted from global passive portfolios in November. In each of the cases, there is a lot to sell from passives.
• One name is very high probability while the deletion of the others depends on the day of the week chosen.
• Shorts have been built up on the stocks and there are strong indications of positioning. But the extent of the positioning varies, and the stocks could have differently.

• Neil Chenoweth wrote a detailed investigative piece on Min Res founder Chris Allison and former top executives, alleging a tax evasion scheme using shareholder funds.
• The scheme involved buying machinery with inflated prices from a company named Far East Equipment Holdings in the British Virgin Islands.
• Min Res stock dropped 13% in response to the article, with implications on leadership and governance of the company.

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• On the 19th August, MyState Ltd (MYS AU), Tassie’s largest bank, entered into a merger agreement by way of a Scheme with Queensland-based Auswide Bank (ABA AU).
• MyState will issue 1.112 new shares for every share held by Auswide shareholders, with MyState/Auswide investors holding 65.9%/34.1% ownership in the MergeCo.  
• The Scheme Booklet is now out, with a Scheme Meeting to be held on the 2nd December Expected implementation on the 18th December. The IE (Kroll) says fair & reasonable.