Latest Competition News

Iris Cairns Property Pty Ltd has increased its cash takeover offer for Reef Casino Trust units to A$3.72 per unit, with the Reef Corporate Services Limited board unanimously recommending acceptance. The offer values the trust at approximately A$185.3 million and awaits regulatory approvals.

Ainsworth Game Technology reported a steady half-year profit of $4.9 million on a 25% revenue increase, driven by strong domestic sales and new product launches, while navigating regional challenges and a looming Novomatic takeover bid.

Redcastle Resources Limited has resumed trading on the ASX following key announcements about a joint venture farm-out, a strategic placement, and a major gold project acquisition.

WOTSO’s FY25 results reveal a robust 14% increase in underlying EBITDA, driven by its expanding flexible workspace portfolio now spanning 31 locations. Strategic investments and partnerships underpin a confident outlook toward $58 million revenue by FY30.

WOTSO’s FY2025 results reveal an 11% revenue decline but a significantly reduced net loss, alongside a raised distribution payout, signaling cautious optimism amid market challenges.

Invion Limited secures a pivotal FDA Orphan Drug Designation for its lead candidate INV043, targeting anal cancer with promising preclinical results and a fast-tracked development path.

FirstWave Cloud Technology is launching its first AI-powered compliance management feature for Open-AudIT, aiming to convert a large base of free users into paying customers through a subscription model integrated with AWS.

Vicinity Centres has reported a robust increase in revenue and net profit for FY25, alongside a steady distribution payout to securityholders. The company’s financial health shows promising resilience amid a competitive real estate market.

Arafura Rare Earths has successfully raised approximately A$80 million through a two-tranche institutional placement and launched a A$5 million share purchase plan, strengthening its cash position ahead of the Nolans project final investment decision.

Magellan Financial Group reported a solid FY25 with an 8.2% rise in assets under management and a notable surge in strategic partnership income, offsetting a dip in investment management revenue.

Schaffer Corporation reported a 16% rise in underlying net profit for FY25, driven by strong Automotive Leather and Delta divisions, while maintaining its dividend and appointing a new CEO to steer future growth.

Xamble Group Limited (ASX, XGL) has announced a pro-rata renounceable entitlement offer to raise up to A$1.36 million, including free attaching options exercisable until 2028. The offer is partially underwritten by Eli Capital Pty Limited and aims to accelerate platform growth and technology development.