In today’s briefing:
- Liontown Resources (LTR AU): Albemarle’s Final A$3.00 Offer
- EQD | SP/ASX200 Index: Will It Break Out of Its Range?
- Pioneer Credit Limited – Return to Profitable Growth
- Carly Holdings Limited – Strong Growth in FY23
Liontown Resources (LTR AU): Albemarle’s Final A$3.00 Offer
- Liontown Resources (LTR AU) has received a revised non-binding privatisation proposal from Albemarle Corp (ALB US) at A$3.00 per share, a 20.0% premium to the previously rejected offer of A$2.50.
- The revised offer is attractive compared to the Kathleen Valley Lithium Project’s NPV range, peer multiples and historical share prices. The offer price is final, barring a superior proposal.
- Liontown has granted Albemarle a limited period of exclusive due diligence. The Board intends to recommend a binding proposal at A$3.00 per share. The retail vote could be a risk.
EQD | SP/ASX200 Index: Will It Break Out of Its Range?
- The S&P/ASX 200 INDEX has been stuck in the 7000-7600 range for the past 2 years, with a brief dive to 6500 during the summer of 2022.
- If we consider the bottom at 6411 in October 2022, the index may have started to build an uptrend since then, but failed repeatedly to breach past the 7600 barrier.
- After a brief correction in August 2023, the index is currently rising, but soon it will encounter WEEKLY resistance that could hamper its chances of breaking out of its range.
Pioneer Credit Limited – Return to Profitable Growth
- Pioneer Credit Limited (ASX:PNC) was founded in 2009 and listed on the ASX in 2014. The company has grown to be one of the leading acquirers and managers of impaired credit in Australia by maintaining strong customer engagement, an unblemished compliance record with ASIC and strong relationships with Australia’s largest bank and non-bank lenders.
- PNC currently purchases debt from 18 different vendor partners with long-term partnership purchasing arrangements in place with Commonwealth Bank of Australia (ASX:CBA).
- A change to Australian Accounting Standards in 2019 and subsequent audit uncertainty resulted in significant corporate disruption.
Carly Holdings Limited – Strong Growth in FY23
- Carly Holdings Limited (ASX:CL8) operates a vehicle subscription business, which it launched in March 2019, leveraging existing operations, strategic relationships and technology.
- Car subscription allows business and retail customers to pay a single monthly fee to access a car for 30 days or more and is an alternative to purchasing or financing a vehicle.
- Carly has attracted larger automotive industry businesses as shareholders, with a direct offering and services to support automotive manufacturers and dealers to generate revenue form car subscriptions.
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