Althea launches medicinal cannabis prescriber platform in the UK

Althea launches medicinal cannabis prescriber platform in the UK

Following the success of its prescriber platform in Australia, listed cannabis company Althea (ASX: AGH) has launched a similar set-up in the United Kingdom. Called Althea Concierge UK the medical education platform, first launched in Australia in September 2018, provides clinical evidence for healthcare professionals looking to prescribe...

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Thorn Group fights for survival following 676 per cent nosedive

Thorn Group fights for survival following 676 per cent nosedive

Thorn Group (ASX: TGA) has reported a statutory net loss after tax of $14.9 million for the 2019 financial year, casting doubt on whether it will exist in the foreseeable future. The loss marks a staggering 676 per cent drop from FY18 and is well below guidance issued on 1 April 2019, which foreshadowed a loss of only $8 million. The ...

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The formula that will take an ASX-listed dairy giant to the next level

The formula that will take an ASX-listed dairy giant to the next level

Listed dairy farmer Australian Dairy Nutritionals (ADN, ASX: AHF) is poised to watch its business take off. The company is on the cusp of becoming a fully fledged player in the lucrative infant formula space, pending the relocation and launch of an offshore plant it agreed to acquire last month. Due diligence has now been completed on...

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Shareholders punish Apollo for sudden profit guidance slash

Shareholders punish Apollo for sudden profit guidance slash

"Deteriorating" trading conditions are to blame for Apollo Tourism & Leisure's (ASX: ATL) slashed profit guidance. The company expects FY19 statutory NPAT to be between $14 million and $15.5 million. This is down from a healthy $17.5 million and $19.5 million that the company expected at the beginning of May, just 28...

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Oliver's on track to black after founder returns

Oliver's on track to black after founder returns

Oliver's Real Food (ASX: OLI) appears to have everything back in place following the return of its founder to the role of CEO in March. The company was in dire straits before the return of founder Jason Gunn (pictured). Shares were nosediving, profits were slashed, and the company was bleeding out cash. But it looks as if the grou...

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GetSwift shares back on deck after trading lockdown

GetSwift shares back on deck after trading lockdown

A clarification has seen GetSwift shares fall back down to earth by more than 10 per cent in afternoon trading.  Shares in GetSwift (ASX: GSW) are trading once more after the logistics group responded to ASX concerns over an undisclosed partnership with a Kuwaiti fast food company. Trading was suspended for the embattled tec...

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Uniti Wireless pursues aggressive growth after $15 million raise

Uniti Wireless pursues aggressive growth after $15 million raise

Adelaide-based telecommunications company Uniti Wireless (ASX: UWL) has raised $15 million in order to pursue an "aggressive" growth strategy. The company raised the $15 million from a placement of 15 million new shares at $1 per share, representing a premium of 26 per cent. The company sought to raise $10 million minimum bu...

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Blue Sky breakaway fund wants Wilson to take the reins

Blue Sky breakaway fund wants Wilson to take the reins

After confirming its solvency and separation from its former parent company now in receivership, Blue Sky Alternatives Access Fund (ASX: BAF) is now taking steps to change its management and cut ties to the mothership once and for all. In a letter to shareholders today, BAF chairman Michael Cottier (pictured) said a proposal wou...

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Vocus receives $3.3 billion takeover offer

Vocus receives $3.3 billion takeover offer

Internet service provider Vocus (ASX: VOC) has received a non-binding $3.3 billion takeover bid from private equity firm EQT Infrastructure. The proposal would see EQT acquire all shares in Vocus for $5.25 per share, representing a significant premium to last Friday's closing price of $3.89. The Vocus board has granted the bidder ...

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Suncorp CEO resigns

Suncorp CEO resigns

Insurance and banking company Suncorp (ASX: SUN) has announced CEO and managing director Michael Cameron will be stepping down. In his four years in the role and seven years on the board, Cameron is credited with leading a significant digital transformation for Suncorp and navigating the business through a period of unprecedented regulato...

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Cann Global reports $3.5 million loss as it prepares to relist

Cann Global reports $3.5 million loss as it prepares to relist

One of Australia's top cannabis companies Cann Global (ASX: CGB) has reported a loss of $3.5 million for the first half of FY19 as the company prepares to relist on the ASX. Formerly known as Queensland Bauxite, Cann Global made the decision to rename and become a medicinal cannabis business exclusively in January this year. Since...

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Freedom Foods launches $130 million equity raise

Freedom Foods launches $130 million equity raise

Health food manufacturer Freedom Foods (ASX: FNP) has announced a $130 million equity raise to support accelerated nutritional ingredients manufacturing. Founded in 1984 and listed on the ASX in 1985, the Sydney based company plans to accelerate the development and sales of several key ingredients. Of the $130 million, $65 million wil...

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TechnologyOne profit up 130 per cent

TechnologyOne profit up 130 per cent

Brisbane-based TechnologyOne (ASX: TNE) has reported 1H19 profits before tax up 130 per cent on the back of higher value annual software as a service (SaaS) contracts. Net profit before tax at the end of the first half was up 130 per cent to $24.5 million, with profit attributable to members up 119 per cent to $17.9 million. Revenue w...

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Blue Sky Alternatives Access Fund secures control of bank account

Blue Sky Alternatives Access Fund secures control of bank account

Listed spinoff of Blue Sky Alternative Investments (ASX: BLA) the Alternatives Access Fund (ASX: BAF) has confirmed it is solvent and now separate from its parent as BLA falls into receivership. Last week, the directors of BAF took steps to secure control of the bank account holding in excess of $29 million by placing a stop on the accoun...

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Blue Sky calls in receivers

Blue Sky calls in receivers

After a year of languishing results, director conflicts, class action speculation and a failed rescue deal with a US venture capital fund, Blue Sky Alternative Investments (ASX: BLA) has finally hit the wall. Shares in the company have been suspended from the ASX today after Blue Sky announced it had appointed KordaMentha as its...

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Virgin takes a $100 million nosedive

Virgin takes a $100 million nosedive

Virgin Australia (ASX: VAH) has announced an expected loss of $35.6 million at the end of FY19 this morning. The dive is expected to result from a $100 million earnings dip which the company says reflects domestic trading conditions and annual fuel and forieng exchange headwinds in excess of $160 million. This shock announcement comes...

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Superloop and QIC fail to come to agreement

Superloop and QIC fail to come to agreement

QIC's proposed $494 million takeover of Superloop (ASX: SLC) is dead in the water after the two parties could not come to a suitable transaction offer. Superloop says that after opening up the books to QIC Private Capital for a three-week period of exclusive due diligence neither party could come to an agreement. "The announc...

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VentureCrowd grows with SMSF Properties Australia acquisition

VentureCrowd grows with SMSF Properties Australia acquisition

VentureCrowd is now the largest crowdfunding platform in Australia by volume of capital raised following its acquisition of SMSF Properties Australia. The consolidated group brings together VentureCrowd, a more traditional crowdfunding platform, with SMSF, a crowdfunding model for property investment and development. The deal creates ...

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Short seller VGI Partners launches $75m IPO

Short seller VGI Partners launches $75m IPO

The hedge fund behind the short selling attacks on Slater & Gordon and Corporate Travel Management has launched a $75 million initial public offering (IPO). VGI Partners lodged the IPO this morning, with ordinary shares being offered under at a price of $5.50 per share, implying a market capitalisation of $369 million. The hedge f...

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CommBank remediation bill passes $2 billion mark

CommBank remediation bill passes $2 billion mark

Commonwealth Bank (ASX: CBA) has put aside $714 million for customer remediation provisions while its bottom line continues to be hammered by the aftershock of the Royal Commission. Australia's largest listed company announced today the measure would cut its net profit after tax (NPAT) for the third quarter by 28 per cent, even though...

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