Daily Roundup

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Diverse Deals and Dividends Dominate the Day

FSA Group has priced a $300 million Asset Backed Securities (ABS) transaction, Azora ABS 2025-1P, backed by automobile and equipment consumer and commercial receivables. The transaction is expected to settle in September, subject to customary conditions precedent, and marks FSA Group's second ABS transaction.

Over at Red Hill Minerals, the company reported a successful FY25, declaring a final dividend of 6.5 cents per share. With total income of $16.04 million, including $11.88 million in royalty revenue, Red Hill recorded a profit after tax of $9.13 million and saw its net cash position increase by $42.07 million. The company's royalty income from the Onslow Iron Project is anticipated to reach around A$28.7 million for FY26.

In other news, the XRG Consortium has withdrawn its non-binding, indicative proposal to acquire 100% of Santos. The Santos Board had expected to enter into a Scheme Implementation Agreement at the agreed offer price, but the XRG Consortium was unable to agree on acceptable terms that would protect the value of the potential transaction for Santos shareholders.

On a positive note, Lithium Universe Ltd reported exceptional results from its advanced silver recovery program. The company's proprietary Jet Electrochemical Silver Extraction (JESE) method produced silver of 95.95% purity in just 5 minutes, far outperforming conventional techniques.

Finally, Smartpay Holdings Limited has announced a scheme of arrangement under which Shift4 Holdings Limited will acquire all Smartpay shares for NZ$1.20 per share. The Smartpay Directors unanimously recommend that shareholders vote in favour of the Scheme, which represents a 90.5% premium to the pre-announcement share price.