Daily Roundup

CAT.ASX ATV.ASX EGL.ASX SHM.ASX REH.ASX

Shakeup in the S&P/ASX 200 as Gold Road Resources Exits, Catapult Sports Enters

In a move that will reshape the S&P/ASX 200 index, S&P Dow Jones Indices has announced that Gold Road Resources Ltd (ASX: GOR) will be removed from the benchmark. Taking its place will be Catapult Sports Ltd (ASX: CAT), effective prior to the market open on September 29, 2025.

The changes come as Gold Road Resources is set to be acquired by Gold Fields Limited (JSE: GFI), subject to scheme meeting and final court approval. This corporate action has prompted the index provider to remove the company from the S&P/ASX 200.

Meanwhile, Catapult Sports, a leader in sports technology and analytics, will join the prestigious index, providing investors with exposure to this fast-growing sector. The inclusion of Catapult Sports is a testament to the company's strong performance and potential.

Activeport Raises $6.8 Million in Placement, Fully Funded for Growth

Activeport Group Ltd (ASX: ATV) has successfully completed a $6.8 million capital raising, bolstering its balance sheet and positioning the company for future growth. The placement, led by Alpine Capital, attracted strong interest from institutional and sophisticated investors, including commitments from directors and senior management.

With the funds in hand, Activeport can now focus on accelerating its business development, sales and marketing, and product innovation efforts. The company is confident that it is now fully funded for the foreseeable future, allowing the team to concentrate on delivering software and generating revenue as it strives to reach its goal of being cash flow positive in FY26.

Environmental Group Ltd's Subsidiary Secures $9.3 Million Contract

In another positive announcement, Environmental Group Ltd (ASX: EGL) revealed that its subsidiary, EGL Baltec, has secured a new $9.3 million contract to supply two large Gas Turbine Diverter Bypass Exhaust Systems for a power plant project in the Dominican Republic.

This contract win adds to EGL Baltec's strong performance, with the subsidiary now having secured $19.7 million in contracts year-to-date. The project, to be delivered over the next 12 months, showcases EGL Baltec's expertise in acoustic technology, silencer design, and noise measurements, which have enabled the company to meet the stringent requirements of this power plant project.

EGL CEO Jason Dixon expressed optimism about the future, stating that there will be further similar opportunities as clients seek improved operational flexibility in combined cycle power plants to support large-scale renewable energy projects.

Shriro Holdings Considers Alternatives to Delisting

Shriro Holdings Ltd (ASX: SHM) has provided an update on a proposal it was previously considering to delist the company from the ASX. After careful deliberation, the Board has decided not to proceed with the delisting or a planned off-market share buy-back.

Instead, Shriro is now exploring alternative options, including a $5 million on-market share buy-back and the payment of a special dividend to replace the final dividend that was not paid for the year ended June 30, 2025. The company will provide further details on the timing, approvals, and the dividend amount in due course.

Reece Announces $250 Million Off-Market Share Buy-Back

Rounding out the day's news, Reece Limited (ASX: REH) has announced a significant off-market share buy-back of up to $400 million, targeting $250 million. The buy-back will provide eligible shareholders the opportunity to sell their shares back to the company at a premium to the current market price, within a range of $11.00 to $13.00 per share.

Reece Chairman & CEO, Peter Wilson, stated that the buy-back demonstrates the Board's confidence in the company's long-term strategy and is an efficient way to return excess capital to shareholders while maintaining financial flexibility. Despite the challenging near-term outlook, Reece remains optimistic about the future and may explore further capital management options, including a potential on-market buy-back, depending on the outcome of this buy-back.