Daily Roundup

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Pioneer Credit Responds to Market Speculation

Pioneer Credit Limited has become aware of market speculation regarding the movement in its share price and the sale of around 3.1 million shares by a family office. The company advises that the share sale was due to pressures in the family office's portfolio and is not related to Pioneer Credit itself.

The company remains comfortably within its financial covenants and has significant cash, cash flow from operations, and unrestricted funding available. Pioneer Credit reaffirms its guidance for fiscal year 2025, including a PDP investment of $90 million, net profit after taxation of at least $9 million, and statutory net profit after taxation of at least $18 million in fiscal year 2026.

PlaySide Studios Announces CEO Transition

PlaySide Studios has announced the appointment of Benn Skender as the new CEO, while Gerry Sakkas transitions to the role of Creative Director. This move will allow Gerry to focus exclusively on spearheading the creative direction of PlaySide's major original IP projects, which are the largest and most exciting in the company's history.

Gerry will remain on the PlaySide Board as an Executive Director. Benn Skender joined the company as Chief Strategy Officer in September 2022 and has since worked closely with Gerry in setting the company's medium-term direction and communicating with investors.

Soul Patts Reports Strong 1H25 Results

Washington H. Soul Pattinson & Company Ltd, the parent entity referred to as "Soul Patts," reported strong financial results for the first half of fiscal year 2025 (1H25). The company's Statutory Net Profit After Tax (NPAT) increased by 8.1% to $326.9 million, while Regular NPAT, which excludes non-regular items, grew by 18.0% to $284.8 million.

Net Cash Flow From Investments, a key performance indicator, increased by 8.2% to $289.5 million. Soul Patts' Net Asset Value (pre-tax) grew to $12.1 billion, up 2.6% from the end of fiscal year 2024. The company declared a 1H25 ordinary dividend of 44 cents per share, 10% higher than the prior corresponding period, marking the company's 25th consecutive year of increasing dividends.

Soul Patts Delivers 9.9% Growth in Cashflow, Increases Interim Dividend by 10%

Washington H. Soul Pattinson and Company Limited (Soul Patts) (ASX:SOL) announced strong financial results for the half year ended 31 January 2025 (1H25), with a 9.9% increase in Net Cash Flow From Investments to $289.5 million and a 10% increase in the interim dividend to 44 cents per share.

Managing Director & CEO, Todd Barlow, stated that the company's commitment to long-term value creation, decisive investment strategies, and an open mandate to seek the highest quality returns continue to benefit shareholders. The 1H25 results demonstrated solid performance across the company's three key investment measures: increasing cash generation, growing the portfolio, and managing investment risk.

Soul Patts Reports 1H25 Results, Highlights Cash Generation and Portfolio Growth

Washington H. Soul Pattinson & Company Ltd (Soul Patts) reported its 1H25 results, highlighting strong cash generation and portfolio growth. Net Cash Flow From Investments increased by 8.2% on a per share basis compared to the prior corresponding period, driven by higher allocations to Credit and Private Equity.

Net Asset Value (pre-tax) grew 4.7% to $12.1 billion, with the company's diversified portfolio now having 28% exposure to private markets. Soul Patts' strategic investments, large-cap equities, private equity, emerging companies, and credit portfolios all contributed to the overall performance.

Dropsuite Ltd: Acting President Makes Interim Orders

The Acting President of the Takeovers Panel has made interim orders in response to an application by Harvest Lane Asset Management Pty Ltd in relation to the affairs of Dropsuite Limited (ASX: DSE). The orders prevent Topline Capital Management LLC and Topline Capital Partners LP from selling shares or decreasing their voting power in Dropsuite without prior consent.

The interim orders will remain in effect until the earliest of further order, determination of the proceedings, or 2 months from the date of the orders.

Nanosonics Receives FDA Clearance for CORIS

Nanosonics Limited has announced that the U.S. Food and Drug Administration (FDA) has granted De Novo clearance for its innovative CORIS system. CORIS is a novel technology designed to reduce infection risk and enhance patient safety by delivering improved cleaning outcomes for flexible endoscopes.

Nanosonics is continuing its preparations for the commercial launch of CORIS, including obtaining necessary approvals in the UK, Europe, and Australia, which are expected to be in place during the first quarter of fiscal year 2026 (Q1 FY26). The first phase of commercialization, focused on raising market awareness and conducting a targeted controlled market release, is on track for Q1 FY26, followed by a broader market introduction in the second half of fiscal 2026 (H2 FY26).