Daily Roundup

SEQ.ASX RCM.ASX CTP.ASX ACE.ASX SMP.ASX

Sequoia Reinstates On-Market Share Buy-Back

Sequoia Financial Group Ltd (ASX: SEQ) is making a move to enhance shareholder value, announcing the reinstatement of its on-market share buy-back program. The company will be able to purchase up to 10% of its issued shares over the next 12 months, with the buy-back to be funded from Sequoia's existing cash reserves. This proactive capital management strategy aims to unlock value for investors as Sequoia navigates the current market conditions.

Rapid Critical Metals Raises $14 Million for Acquisition and Exploration

Over in the mining sector, Rapid Critical Metals Limited (ASX: RCM) has successfully completed a $14 million capital raise to fund some exciting initiatives. The placement was strongly supported by institutional heavyweights like Eric Sprott, Jupiter Asset Management, and Tribeca Investment Partners. The funds will go towards acquiring the Webbs Consol Project and accelerating exploration on Rapid's NSW silver and Canadian germanium-gallium projects. This well-timed capital injection positions the company to become Australia's next high-grade silver producer.

In a related move, the ASX has reinstated Rapid Critical Metals to quotation, allowing trading in the company's securities to resume immediately. This comes after the release of the capital raising announcement, providing the necessary information for the exchange to lift the previous suspension.

Central Petroleum Reports Stellar FY2025 Results

Turning to the energy space, Central Petroleum Limited (ASX: CTP) has delivered a standout financial performance for the 2025 fiscal year. The company reported a 43% jump in underlying EBITDAX to $19.6 million, translating to a healthy statutory net profit after tax of $7.7 million. This was driven by a 17% increase in sales revenue to $43.6 million, underpinned by new gas contracts and successful drilling and commissioning of production wells. Central's strengthened financial position opens the door to various value-enhancing initiatives, including potential production expansion, targeted exploration, or even the introduction of shareholder dividends.

Acusensus Awarded $8.7 Million Contract in Western Australia

In the technology sector, Acusensus Limited (ASX: ACE) has secured a significant new contract with the Western Australian government. The company's subsidiary, Acusensus Australia, will supply a multi-function fixed site enforcement camera program on major freeways in the state. This five-year, $8.7 million deal will see Acusensus' AI-enabled technology deployed to detect a range of road traffic offences, including speeding, mobile phone use, and seatbelt compliance. The program is set to enhance the WA Road Safety Commission's ability to improve driver behaviour and road safety across the region.

Smartpay Secures Initial Orders for Scheme of Arrangement

Lastly, Smartpay Holdings Ltd (NZX/ASX: SMP) has announced that it has been granted initial orders from the High Court in respect of a Scheme of Arrangement. The Scheme, which is subject to shareholder and court approval, aims to simplify the company's corporate structure and unlock growth opportunities. Smartpay will release the Scheme Booklet tomorrow, providing details on the upcoming Scheme Meeting and the remaining key steps in the process.