In today’s briefing:
- Namoi Cotton (NAM AU): Louis Dreyfus Has This Stitched Up
- Amaero International Ltd – Capex programme extended, guidance for FY26 break even
Namoi Cotton (NAM AU): Louis Dreyfus Has This Stitched Up
- Since Louis Dreyfus Company (LDC) first announced a A$0.51/share Offer, by way of a Scheme, on the 28 November 2023, and Olam Agri countered, there have been significant developments.
- Both suitors have now tabled off-market Offers (A$0.67/share from LDC, and A$0.70/share from Olam Agri). Both Offers are open for tendering. Both have extended their closing dates numerous times.
- And both suitors have also faced ACCC scrutiny. As of today, only LDC, currently holding a 20.2% stake in Namoi, is in the clear.
Amaero International Ltd – Capex programme extended, guidance for FY26 break even
- RaaS Research has published an update report on advanced materials manufacturing group Amaero International (ASX:3DA) following its market update in which it guided to FY26 break-even and provided more granularity on its FY24 to FY26 capital expenditure progrramme.
- Amaero has provided an update to shareholders including changed guidance on when it expects to reach EBITDA break-even (six months later), a revised capex schedule and the milestones it expects to pass over the next six-to-12 months (same in quantum but timing changes).
- The company emphasised that the completion of C103 qualification by Amaero’s offtake counterparty (whom we believe is US defence giant Castheon) is the single most significant milestone in the company’s history.
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