Latest It Services Sector News

Domain Holdings Australia has received a draft class ruling from the ATO that aligns with its previously disclosed tax positions for the upcoming CoStar acquisition scheme. The final ruling, expected post-implementation, will provide definitive tax clarity for shareholders.

Resource Development Group, majority-owned by Mineral Resources, has entered voluntary administration after a funding request was declined. Mineral Resources plans to support the process but will record a significant impairment in FY25.

Mineral Resources Limited’s majority-owned Resource Development Group has entered voluntary administration, prompting MinRes to prepare for a significant non-cash impairment in its FY25 results. The unfolding administration process raises questions about the future of RDG and its impact on MinRes shareholders.

Jcurve Solutions has raised $1 million through a strategic share placement at a significant premium, bringing on a new investor with deep Oracle NetSuite expertise and appointing a nominee director to its board.

Supply Network Limited has announced a fully franked ordinary dividend of AUD 0.38 per share for the fiscal year ending June 2025, accompanied by a Dividend Reinvestment Plan offering a 2.5% discount on new shares.

Cuscal Limited announces the retirement of long-serving CFO Sean O’Donoghue in late 2025 and the appointment of Jennifer Brice as his successor, signaling a seamless leadership transition as the company remains on track to meet its FY25 forecasts.

The Foreign Investment Review Board has approved CoStar Group’s acquisition of Domain Holdings, clearing a major regulatory hurdle ahead of the shareholder vote scheduled for August 4.

PEXA’s UK arm has secured a formal commitment from NatWest to implement its digital platform for remortgage and sale & purchase transactions, marking a pivotal step in PEXA’s UK expansion.

Hutchison Telecommunications (Australia) Limited has been suspended from ASX trading following compulsory acquisition notices issued by its Amsterdam-based parent company.

Insignia Financial has provided an update on its ongoing discussions with CC Capital Partners regarding a potential acquisition via a scheme of arrangement. While talks continue, there is no certainty a deal will be reached.

TAL Dai-ichi Life Australia has obtained all necessary regulatory approvals, including from APRA, to finalize its minority investment in Challenger Limited, acquiring a 19.9% equity stake.

EVZ Limited has issued earnings guidance for FY2025, forecasting revenue between $108 million and $110 million with EBITDA expected around $5.2 million to $5.4 million. The final audited results will be released in late August.