Daily Roundup

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Playside Studios Announces Co-Founder's Resignation

PlaySide Studios, a leading Australian video game developer and publisher, has announced the resignation of Co-Founder Gerry Sakkas as Creative Director and from the company's Board. While the company will not seek a replacement for his role, Sakkas remains a committed shareholder, offering to escrow 90% of his existing shareholding for 12 months, with the option to sell up to 6 million shares prior.

Motio Upgrades FY25 Guidance

In a positive update, Motio Limited has upgraded its guidance for the 2025 financial year (FY25). The company now expects revenue to be between $8.5 to $8.9 million, up from the previous range of $8.4-$8.8 million. Additionally, the cash EBITDA target has been increased to $1.35 million+, up from $1.2 million+. Motio reported a healthy cash balance of $2.6 million and a net amount owed to OML of $1.06 million.

Boom Logistics Delivers Strong 3Q FY25 Results

Diversified lifting and project logistics business Boom Logistics Limited has announced a strong 3Q FY25 trading update. Revenue increased by $5 million to $65 million, driven by strong windfarm project activity, while EBITDA grew by $3 million to $12.1 million through cost management and improved asset/labour utilization. Net profit after tax also saw a significant increase of $1.4 million to $1.8 million. The company's balance sheet remains strong, with net capex of $27.0 million YTD FY25 and net debt within the target gearing ratio.

Kip McGrath CEO Steps Down After 19 Years

Kip McGrath Education Centres Limited has announced the departure of CEO and Managing Director Storm McGrath after 19 years of service. During the transition period, Non-Executive Chair Damian Banks will assume the role of Executive Chair, and the company has commenced a comprehensive search for a new CEO, expected to be appointed later in 2025.

Tyro Withdraws from Smartpay Acquisition Process

Tyro Payments Limited has confirmed that it is no longer participating in the acquisition process of Smartpay Holdings Limited. Tyro had previously submitted a proposal and was conducting due diligence, but Smartpay has now entered an exclusivity arrangement with another party for a cash offer of NZ$1.20 per share.