Daily Roundup

HMC.ASX UBI.ASX SDV.ASX M7T.ASX MDR.ASX

A Busy Day in the Markets: Announcements from HMC Capital, Universal Biosensors, SciDev, and MedAdvisor

HMC Capital Declares $300m Distribution, Launches HMCCP II

HMC Capital Limited has some exciting news to share. The company's HMC Capital Partners Fund I (HMCCP Fund I) has declared an interim FY25 distribution totaling around $300 million. As the largest investor in the fund, HMC Capital will receive a distribution of approximately $150 million in mid-April 2025. HMCCP Fund I was the best performing Australian equity fund in 2024, delivering more than 55% in net returns. This interim distribution reflects the significant gains realized on the fund's investments in Sigma Healthcare and Ingenia Communities.

Looking ahead, HMC Capital is launching a new closed-end private equity fund, HMCCP Fund II. The new fund will target the company's highest conviction listed and unlisted investment opportunities, expanding the mandate beyond just listed assets. Based on HMC's year-to-date performance, the company's annualized FY25 operating earnings per share (pre-tax) is currently tracking at 70 cents, and the FY25 dividend per share guidance of 12.0 cents has been reaffirmed.

Universal Biosensors Appoints New CEO

In other news, Universal Biosensors Inc. (ASX: UBI) has announced a change in leadership. John Sharman, the company's Managing Director and CEO, has decided to step down from his role for personal reasons, effective April 1, 2025. Sharman has led the business for the past 5 years, transforming UBI from an R&D and engineering-focused company into a customer-centric and product commercialization-focused organization.

The board is pleased to welcome Peter Mullin as the new Managing Director and CEO, also effective April 1, 2025. Mullin joined UBI as Finance Director and CFO in December 2024 and brings a wealth of executive leadership experience from diverse industries, including manufacturing, banking, and superannuation.

SciDev Announces Board Composition Changes

Turning to SciDev Ltd (ASX: SDV), the company has announced several changes to its board of directors. Mike Utsler has been appointed as the new Chairman, effective April 1, 2025, bringing extensive board and executive leadership experience to guide SciDev through its next phase of growth. Additionally, SciDev's CEO, Sean Halpin, will transition into the role of Managing Director, effective the same date.

The board has also appointed Johannes Risseeuw as a new Non-Executive Director, replacing Jon Gourlay, who will retire at the Annual General Meeting in October 2025. Johannes has expertise in corporate strategy, governance, commercial, and mergers and acquisitions, which will be invaluable in supporting SciDev's long-term growth objectives.

MedAdvisor Announces Capital Raise and Corporate Update

Finally, MedAdvisor Ltd (ASX: MDR) has been busy as well. The company has released a capital raise presentation, detailing a proposed placement and share purchase plan to raise funds for business growth and expansion. The presentation includes important information and disclaimers for investors, such as details on the offer, financial information, forward-looking statements, and investment risks.

In a separate announcement, MedAdvisor has provided a corporate update, including a strategic review that has drawn strong interest in the company's Australian business. Linda Jenkinson has stepped down as Chair, with Kate Hill appointed as Interim Chair. MedAdvisor has also provided financial guidance, expecting revenue of $93-99 million in FY25 and targeting 15% revenue growth and margin expansion in FY26. The company has announced an accelerated cost-out program, expected to deliver $12 million in OPEX savings between FY24-FY26.

It's been a busy day in the markets, with several companies making significant announcements. Investors will certainly have plenty to digest as they consider the implications for these businesses going forward.