Smiles omits cash burn in capital raise pitch

Smiles omits cash burn in capital raise pitch

With its FY19 results still unaudited and its most recent $323,344 cash position omitted in the investor pitch, dental care company Smiles Inclusive (ASX: SIL) has today announced plans to raise $3.3 million - roughly the value of its most recent market capitalisation - so it can execute a turnaround strategy.  The company will be is...

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Mogul announces a magic partnership with Wizards of the Coast

Mogul announces a magic partnership with Wizards of the Coast

Esports Mogul (ASX: ESH) has partnered with one of the most popular strategy trading card games creators Wizards of the Coast. The esports tournament and matchmaking platform provider will host Magic: The Gathering Arena (MTG Arena) matches on its Mogul platform. The video game is based on the long-running card game Magic: The Gatheri...

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Sunglass Hut underpaid 620 staff

Sunglass Hut underpaid 620 staff

The retailer behind one of Australia's best-known sunglasses brands is back-paying $2.3 million to employees around the country after entering court-enforceable undertaking with the Fair Work Ombudsman (FWO). Luxottica Retail Australia Pty Ltd, trading as Sunglass Hut, self-disclosed to the FWO that it underpaid 620 current and f...

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Fair Go heads sky bound with $20 million investment

Fair Go heads sky bound with $20 million investment

Global wealth manager Skybound Capital has acquired 60 per cent of Western Australian fintech Fair Go Finance for $20 million. Skybound says the acquisition of the majority stake in Fair Go from its parent company, Frankfurt-listed MyBucks, is part of its strategy to expose itself further to the Australian market. Fair Go was founded ...

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Superloop to nip debt in the bud with $90m capital raise

Superloop to nip debt in the bud with $90m capital raise

Cloud services connector Superloop (ASX: SLC) is offering up shares at an 18.8 per cent discount to raise $90 million so it can pay off debt. The institutional placement and entitlement offer at $0.82 a share are a far cry from the $1.95 per share QIC Private Capital was proposing for a buyout in May, which failed to produce an agree...

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Helloworld to acquire TravelEdge Group

Helloworld to acquire TravelEdge Group

The trials and tribulations of British tourism giant Thomas Cook have failed to dampen optimism in the travel sector, with Helloworld Travel (ASX: HLO) today announcing it has agreed to buy TravelEdge Group for $28 million. The deal represents an EBITDA multiple of around six times and will be funded by a new bank facility, with the consi...

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Rural Funds claims Bucephalus "slavishly repeated" Bonitas allegations

Rural Funds claims Bucephalus "slavishly repeated" Bonitas allegations

The company that manages agricultural landholder Rural Funds Group (ASX: RFF) is doubling down on its dismissal of allegations raised by Hong Kong-based Bucephalus Research, which last week described the business as a "Ponzi scheme". In a rebuttal released to the ASX this morning, Rural Funds Management (RFM) reiterated its opin...

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Webjet profits to feel the pinch from Thomas Cook downfall

Webjet profits to feel the pinch from Thomas Cook downfall

One of the world's largest tour operators Thomas Cook has entered compulsory liquidation after it failed to reach a recapitalisation deal to stay afloat, reportedly putting 9,000 jobs at risk in the UK and leaving 600,000 travellers in the lurch worldwide. Here in Australia, one of the country's leading tourism services aggregator...

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National Veterinary Care acquires two more clinics

National Veterinary Care acquires two more clinics

Listed veterinary service provider National Veterinary Care (ASX: NVL) is continuing with its spree of acquisitions today, announcing the acquisition of two more clinics. The group has acquired one in Australia and one in New Zealand, worth $1.94 million in total. The new clinics are in existing NVL geographic clusters, while the New ...

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Smiles Inclusive to raise capital as it struggles for survival

Smiles Inclusive to raise capital as it struggles for survival

With only just more than $300,000 in the coffers as of 10 days ago and following a high-volume sell-off of shares on Friday, dental practice Smiles Inclusive (ASX: SIL) has placed its shares in a trading halt pending the announcement of a capital raising. Early last week the Gold Coast Bulletin revealed the company had another capita...

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Silver Chef sells off hospitality division to avoid collapse

Silver Chef sells off hospitality division to avoid collapse

The board of hospitality business Silver Chef (ASX: SIV) intends to accept a new offer from investment firm Next Capital that should rescue the company from impending administration. Silver Chef says it effectively has no choice but to accept Next Capital's offer to sell the company's core hospitality business for $18 million due ...

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Smiles shares in freefall with very high volume traded

Smiles shares in freefall with very high volume traded

Shares in cash-strapped dental practice Smiles Inclusive (ASX:SIL) fell by almost a third today before the company announced a temporary trading halt at 2:17pm AEST. Chairman David Usasz then responded to the ASX's query about the issue, claiming the company was not aware of any information that could explain the massive drop. He ...

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Flight Centre takes full ownership of Ignite Travel Group

Flight Centre takes full ownership of Ignite Travel Group

Gold Coast based Ignite Travel Group is now wholly owned by travel giant Flight Centre (ASX: FLT) after the latter acquired the remaining 51 per cent of the business. Flight Centre previously held 49 per cent of Ignite, with the parties agreeing to bring forward the full purchase of Ignite's Australian and New Zealand business to capi...

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Setback for Farooq Khan in bid to oust Nicholas Bolton from Keybridge Capital

Setback for Farooq Khan in bid to oust Nicholas Bolton from Keybridge Capital

Update: Shortly after this article was published, Keybridge announced both shareholder meetings had been postponed until 14 October. The battle for control of Keybridge Capital (ASX: KBC) is set to heat up next week after the Takeovers Panel yesterday derailed an attempt from one shareholder to raise question marks over the holdings of an...

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Mad Mex goes global with Singapore and Malaysian expansion

Mad Mex goes global with Singapore and Malaysian expansion

Australian food chain Mad Mex is taking a taste of Mexico to Singapore and Malaysia with the announcement of its global expansion. The group's plans to go international kick off in Singapore this week with a brand-new store and will continue when its Malaysian store opens in December this year. The Marina Bay financial district in...

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Online sales drive record retail results for Premier Investments

Online sales drive record retail results for Premier Investments

Solomon Lew's Premier Investments (ASX: PMV) saw its net profit after tax (NPAT) rise 27.7 per cent to hit $177.6 million in FY19, backed by growth across multiple brands in both offline and online retail. Underlying earnings for Premier Retail rose 11.5 per cent to teach $167.3 million, as the company notched record sales for sleepwe...

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As cash runs out, ASX asks if Smiles Inclusive should be listed

As cash runs out, ASX asks if Smiles Inclusive should be listed

The Australian Stock Exchange (ASX) has asked embattled dental care group Smiles Inclusive (ASX: SIL) if it should be listed, and the company's response raises more questions than it provides answers. Smiles chairman David Usasz notes the Gold Coast company only had $323,344 in cash as at the end of 13 September. This compares to ...

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Landmark White sources from within for new CEO

Landmark White sources from within for new CEO

After a tumultuous seven months with its profits damaged by cyber security breaches, property valuer Landmark White (ASX: LMW) has opted for a CEO who has already been a key player in its path to recovery. Timothy Rabbitt (pictured) now assumes full leadership of the company, after stepping into the acting CEO role in March when the ...

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BPH Energy sparks up interest in medicinal cannabis

BPH Energy sparks up interest in medicinal cannabis

One of the leading listed Australian companies playing in the medicinal cannabis sector right now is Cann Global (ASX: CGB), which incidentally used to be a bauxite mining business.  CGB delisted from the ASX for a year in order to realign the business from boring holes in the ground to focusing on a completely unrelated and relative...

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Rural Funds dismisses critical report from Bucephalus Research

Rural Funds dismisses critical report from Bucephalus Research

The Australian farmland owner at the centre of a controversial short selling campaign is now in the sights of another overseas analyst. Shortly after launching a lawsuit against Texas-based Bonitas Research over its allegations about the company, Rural Funds Group (ASX: RFF) is now under attack from Bucephalus Research in Hong Kong. ...

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