Investment Matters

Company News

Australian Equities Portfolio

CML Group (positive impact) announced the completion of its non-renounceable pro-rata entitlement offer. Gross proceeds from the offer were $7.6m and will be put towards working capital, the costs associated with its Scheme of Implementation with Consolidated Operations Group (COG) and to reduce debt.

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Threat Protect (positive impact) announced the placement of shares to an institutional investor. The company has raised $5m from Black Crane Asia Pacific Opportunities Fund which will be used for working capital and to make further earnings accretive acquisitions over the coming months.

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Boral (negative impact) announced that it has identified financial irregularities in its North American Windows business relating to the mis-reporting of its accounts. As a result, it expects a one off impact on earnings before interest, taxes, depreciation and amortisation of between US$20-30m. This amount represents 2.4% of the company’s total profitability (EBITDA) in FY-19.

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Alternatives Portfolio

Enlitic (positive impact) provided an update with respect to its operations. The company has continued to grow over the last few months, particularly with respect to its modelling team. Importantly, the company has recently received several key regulatory approvals on its pathway towards commercialising its platform.

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Acorn Capital Expansion Platform (positive impact) made two new investments; one in an e-commerce platform and another in a company active in the ride sharing sector.