Latest Board Transitions News

Reedy Lagoon is relying on shareholder approval for a $1.8 million underwritten placement after ending the year with $44,416 in cash and a material uncertainty over its ability to continue as a going concern. The recapitalisation would fund exploration, but comes with substantial dilution and a staged repayment of related-party debt.

Bremworth has restored internal yarn production, cut costs and improved its inventory profile, but FY26 still ended with an NZ$11.4 million loss. The company now enters FY27 under new ownership and board dynamics, with positive operating cash flow still to be achieved.

The Colonial Motor Company (NZX:CMO) increased shareholder profit, lifted its annual dividend and sharply reduced borrowings and inventory in 2026. The New Zealand automotive group is entering a more difficult trading period, however, with price pressure, new-brand competition and a chair transition ahead.

JB Hi-Fi delivered record FY2026 sales of $11.06 billion and lifted its fully franked ordinary dividend by 22.5% to 337 cents per share. The early FY2027 trading update was less assured, with Australian sales and The Good Guys declining in July as shoppers waited for promotions and technology supply remained constrained.

BWP Property Group posted a 54% jump in statutory net profit for FY26, driven by management internalisation, lease resets with Bunnings, and strategic acquisitions. Distributions rose 4.1%, with Moody’s upgrading the credit rating to A3 stable.

Sena & Co, already holding 75.9% of 2 Cheap Cars, proposes a full takeover at NZ$0.80 per share, aiming to delist the company and compulsorily acquire remaining shares.

Kingfish Limited posted a $13.6 million net loss for the year ended 31 March 2026, with portfolio returns lagging the benchmark amid geopolitical tensions and AI sector uncertainty.

Forrestania Resources has launched a recommended off-market takeover bid for Zenith Minerals, valuing Zenith at about A$93.5 million with a 46.7% premium. The deal aims to create a larger, diversified Western Australian gold explorer and developer.

Findi Limited has transitioned Stephen Benton to Non-Executive Chairman while Nicholas Smedley refocuses on the Indian business and TSI IPO plans. A strategic review aims to sharpen capital allocation and progress the Payments Bank licence.

Elanor Investors Group appoints David McNamara as CEO, signaling a leadership shift following a balance sheet recapitalisation and strategic reset. The Board also sees key transitions with Tony Fehon moving to a non-executive role and Su Kiat Lim stepping down.

Urbanise.com Limited appoints Darc Rasmussen as Executive Chairman, unveils an AI Assistant for strata managers, and converts two legacy system customers with new contracts worth $700k over three years.

Zenith Minerals has reported a significant milestone with a maiden 675,000-ounce JORC Inferred Mineral Resource at its Consolidated Dulcie Gold Project, alongside deep drilling success at Red Mountain that extends mineralisation beyond 700 metres.