Daily Roundup

FDV.ASX MDR.ASX GDG.ASX XF1.ASX KKC.ASX

Frontier Digital Ventures Provides Strategic Review Update

Frontier Digital Ventures, a leading player in the digital ventures space, has announced an update on its strategic review. The company has engaged some heavy hitters to assist with the process, including RBC Capital Markets as its financial advisor, Vesparum Capital in an independent capital markets advisory role, and Herbert Smith Freehills as its Australian legal advisor. The strategic review will focus on unlocking and maximizing shareholder value, with a particular emphasis on 360 LATAM. Investors will be keen to see what options the company uncovers through this review.

MedAdvisor Announces Trading Update and Investor Briefing

In some mixed news out of the healthcare tech space, MedAdvisor has provided a trading update for the first half of fiscal year 2025. The key takeaway is a significant shift in US revenue from the first half to the second half, due to lower-than-expected vaccination rates during the current flu season. However, the company's Australian operations remain on track, performing well and in line with management's expectations. The good news is that MedAdvisor's US pipeline for the second half is looking much stronger, with over 50% more brands compared to the prior year. This should position the company well to deliver a substantial uplift in US revenue in the second half.

Generation Development Group Appoints New CEO and Executive Chairman

There's been a changing of the guard at Generation Development Group, with the company announcing the appointment of two key leaders. Grant Hackett, who has been CEO of GDG's subsidiary Generation Life since 2020, will now take on the role of Group CEO. Meanwhile, Rob Coombe, who has been the Chairman since 2017, will transition to the position of Executive Chairman. This reflects GDG's commitment to its growth strategy, with Hackett and Coombe set to work closely together on driving the company forward over the next 12-24 months.

Court Approves Convening of Xref's Scheme Meeting

Xref Limited has received some positive news, with the Supreme Court of New South Wales approving the convening of a Scheme Meeting for shareholders to consider the proposed acquisition by SEEK International Investments. The Scheme Booklet, which will provide all the details, is set to be released after registration with ASIC. Importantly, the Independent Expert has concluded that the Scheme is fair and reasonable and in the best interests of Xref shareholders. Xref shareholders will have their chance to vote on the proposal at the Scheme Meeting scheduled for 3 February 2025.

KKR Credit Income Fund Announces Dividend

Rounding out the day's news, the KKR Credit Income Fund has declared a new dividend of AUD 0.01670000 per unit. The ex-date is 30 December 2024, the record date is 31 December 2024, and the payment date is 15 January 2025. This distribution is estimated to be a combination of foreign income and a return of capital. It's a nice little gift for investors to kick off the new year.