Second capital raising? Smiles slammed by partners over non-disclosure

Second capital raising? Smiles slammed by partners over non-disclosure

Struggling dental care business Smiles Inclusive (ASX: SIL) managed to raise $1.2 million in June at $0.14 per share, but did the Gold Coast company have plans for more raisings in the pipeline? Within 2.5 months the share price shed half its value in response to a surprise $19 million loss - a result that followed harsh criticism fr...

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OFX partners with Link Market Services for cross-border transactions

OFX partners with Link Market Services for cross-border transactions

Cross-border payments service provider OFX (ASX: OFX) has entered into an exclusive partnership with Link Market Services (ASX: LNK). The partnership will see OFX provide Link with an end-to-end digital cross-border payments solution that will improve Link's shareholding management platform. The service will initially be offered t...

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Bellamy's shareholders hit jackpot with $1.5 billion takeover offer

Bellamy's shareholders hit jackpot with $1.5 billion takeover offer

Organic milk formula brand Bellamy's has received a takeover offer from a leading Chinese dairy producer. The proposed deal values the Australian brand at approximately $1.5 billion, and a material premium of 59 per cent compared to the company's last closing share price. Under the deal, shareholders would receive $13.25 cash ...

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Virgin to buy back $700m Velocity stake

Virgin to buy back $700m Velocity stake

Virgin Australia (ASX: VAH) is on a flight path to taking back Affinity Equity Partners' 35 per cent stake in its Velocity Frequent Flyer program by the end of the year. The announcement comes just over two months after the Asian firm signalled plans to exit its stake in a program that is currently majority owned by Virgin. &...

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Silver Chef shareholders knock down Next Capital for the second time

Silver Chef shareholders knock down Next Capital for the second time

Shareholders in embattled hospitality firm Silver Chef (ASX: SIV) have swatted away a takeover offer from investment firm Next Capital for the second time. Following Next Capital's second bid at taking over Silver Chef, shareholders in the latter have come out against the proposed deal, choosing instead to side with an alternative rec...

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Australians expect more than just bottom-line performance from large companies

Australians expect more than just bottom-line performance from large companies

Australians expect a broad contribution from businesses going beyond fiscal responsibility according to a new national poll. The Committee for Economic Development of Australia's (CEDA) latest report details how the general public expect businesses to perform ethically with respect to societal issues and the environment. More than...

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Fastbrick concept could become a reality with new pilot program

Fastbrick concept could become a reality with new pilot program

Would you live in a house built by a robot? Fastbrick (ASX: FBR) certainly hopes you would, and their futuristic concept is fast becoming a reality. The listed technology company has announced a 'Building Pilot Program' with Western Australian builder Archistruct Builders & Designers. The program, if successful, will see a...

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Rural Funds launches lawsuit against short seller Bonitas Research

Rural Funds launches lawsuit against short seller Bonitas Research

Australian agriculture real estate investment trust Rural Funds Group (ASX: RFF) has commenced legal proceedings against US-based short sellers Bonitas Research and its principal Matthew Weichert. The proceedings relate to a short selling report published by Bonitas in early August which saw the shares in Rural Funds dive by 43 per cent. ...

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ASX comes knocking as iSignthis share price dives on Ownership Matters report

ASX comes knocking as iSignthis share price dives on Ownership Matters report

The last 48 hours have been a rollercoaster for the share price of iSignthis (ASX: ISX). After hitting a high of $1.66 on 11 September it suddenly crashed to a low of $0.99 the following day.  The initial spike can be attributed to the company's market update for gross processed transaction value (GPTV), which on an annualise...

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Silver Chef takeover heats up as Blue Stamp demonstrates its worth

Silver Chef takeover heats up as Blue Stamp demonstrates its worth

The battle for the heart of Silver Chef (ASX: SIV) is fast becoming an episode of The Bachelor, with the company's two suitors turning up the heat over the last two days. In one corner there is Next Capital, an investment firm looking to acquire Silver Chef's hospitality business after previous attempts to take over the entirety o...

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Rhinomed sniffs out opportunities in North America with new listing

Rhinomed sniffs out opportunities in North America with new listing

Breathing management med-tech business Rhinomed (ASX: RNO) has today listed in the USA on the OTCQB Venture Market. The company, which develops nasal and respiratory technologies to assist with sleep, sport and wellbeing, and is currently exploring how medicinal cannabis can improve its product range, will trade under the symbol "RHN...

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Words of wisdom: The dental advisor who foresaw Smiles Inclusive's demise pre-IPO

Words of wisdom: The dental advisor who foresaw Smiles Inclusive's demise pre-IPO

Investors who jumped aboard the Smiles Inclusive (ASX: SIL) IPO in 2018 will regret not having read or heeded the words of Graham Middleton (pictured), a leading dental business advisor with the Synstrat Group. The fortunes of the Gold Coast-based dental company have collapsed since it listed on the ASX in April 2018 with a listing p...

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Westpac CFO Peter King announces retirement

Westpac CFO Peter King announces retirement

After 25 years with the bank Peter King (pictured) has announced he will step down as chief financial officer of Westpac (ASX: WBC). King will reitre from the role he has held at the bank since 2014 in 2020, giving the bank 12 months' notice of his retirement today. CEO Brian Hartzer says that King will be missed at the bank, cong...

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Watchdog gives green light to Elders rural retail acquisition

Watchdog gives green light to Elders rural retail acquisition

The Australian Competition and Consumer Commission (ACCC) has given agribusiness Elders (ASX: ELD) the go-ahead to acquire Australian Independent Rural Retailers (AIRR). Elders will buy AIRR for a cash-scrip consideration of $10.85 per share, valuing the rural merchandise, pet and produce chain at $157 million on an equity basis. AIRR...

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DroneShield changes course with "watershed" UK deal

DroneShield changes course with "watershed" UK deal

Counter-drone technology company DroneShield (ASX: DRO) expects to shake up its sales distribution model thanks to a new partnership with UK-based global telco BT Group. After earning just over $1 million a quarter recently due to direct sales to clients like defence companies and airport traffic management providers, DroneShiel...

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Next Capital shoots another shot at Silver Chef acquisition

Next Capital shoots another shot at Silver Chef acquisition

UPDATE: Silver Chef takeover heats up as Blue Stamp demonstrates its worth Just over a week after Silver Chef (ASX: SIV) rejected Next Capital's acquisition proposal and chose to side with the opinion of key shareholders demonstrating a "groundswell of distain" for Next's offer, the suitor has returned with a s...

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Takeovers Panel raises red flags over Benjamin Hornigold takeover

Takeovers Panel raises red flags over Benjamin Hornigold takeover

For the second time this year John Bridgeman's attempts to take over Brisbane investment firm Benjamin Hornigold (ASX: BHD) have hit a roadblock. The Takeovers Panel has made a declaration of unacceptable circumstances regarding the deal, stemming from an ongoing concern about the competitiveness of John Bridgeman's offer. NSX...

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Smiles partner alleges impairment charges short by $26m

Smiles partner alleges impairment charges short by $26m

After aching dental company Smiles Inclusive (ASX: SIL) was interrogated by the ASX last week about its woeful results, the sharemarket operator asked when the group became aware of an impairment charge of $13.7 million. To put this figure into context, the Gold Coast-based group recorded a net loss of $18.9 million for FY19 and its ...

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Smartbank 86 400 launches nationwide

Smartbank 86 400 launches nationwide

Neobank 86 400 has its sights set on the traditional banking institutions in Australia and from today Australians interested in making the switch can open an account. The bank launches with two accounts called Pay and Save, both of which can only be accessed via 86 400's app. Those interested in the app do not even have to switch ...

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Blockchain goes bush with Power Ledger

Blockchain goes bush with Power Ledger

Power Ledger is taking its blockchain-based peer-to-peer power sharing technology outside of the city for the first time with a trial in Western Australia. The trial in WA is the first time Power Ledger has taken its tech to a regional area and will see commercial buildings trade excess solar power between each other, underpinned by the c...

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