Latest Foreign Investment Review Board News

Saturn Metals has raised $45 million through a share placement to accelerate exploration and development at its Apollo Hill Gold Project in Western Australia, aiming for key feasibility milestones by 2026.

TPC Consolidated and Wollar Solar Holding have agreed to extend key deadlines in their acquisition scheme as they await crucial FIRB approval, pushing the timeline into early 2026.

Atlas Arteria has announced an ordinary dividend of AUD 0.20 per security for the six months ending June 2025, payable in early October. The dividend is fully unfranked, reflecting the company’s international income streams.

Garda Property Group has announced a quarterly distribution of AUD 0.02 per security for the period ending September 30, 2025, incorporating a notable non-cash capital gain component from a recent asset sale.

Mad Paws Holdings has secured Foreign Investment Review Board approval for Rover Group’s full acquisition scheme, with the board unanimously recommending shareholder support.

Verbrec Limited has agreed to sell its Competency Training business to RelyOn Australia for $11.5 million in cash, aiming to sharpen its focus on core engineering services and accelerate growth in energy transition and automation.

Mayne Pharma has publicly refuted recent media claims about plans to close its Salisbury manufacturing site, clarifying its position amid ongoing regulatory scrutiny of its Scheme transaction with Cosette.

Duxton Farms Ltd has announced a scheme of arrangement to acquire all issued preference shares of Duxton Dried Fruits Pty Ltd, offering a mix of scrip and cash consideration. An independent expert has assessed the transaction as fair and reasonable, endorsing the merger as a strategic step to create a diversified agricultural investment platform.

Pearl Gull Iron Limited has agreed to sell its Cockatoo Island Project for A$4.5 million in cash, a 4% equity stake in Crestlink Pty Ltd, and ongoing royalties, marking a strategic shift as it seeks new growth opportunities.

Novomatic AG has launched an unconditional A$1.00 per share off-market takeover offer for Ainsworth Game Technology Limited, representing a 35% premium and backed by AGI's Independent Board Committee. The offer aims to consolidate Novomatic's control and potentially delist AGI from the ASX.

Iron Road Ltd has agreed revised terms with Revera Energy to extend and adjust land purchase options critical to the Cape Hardy green hydrogen project in South Australia.

TPC Consolidated Limited reported a robust 20.9% increase in revenue to $193.1 million for FY25, driven by growth in electricity and gas services. However, net profit after tax plunged 94.4% to $0.3 million, reflecting the impact of volatile wholesale electricity prices and rising costs, while a proposed acquisition awaits regulatory approval.