Daily Roundup

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Close of Embark Early Education Limited Takeover

Embark Early Education Limited (ASX: EVO) has closed its off-market takeover offer for Mayfield Childcare Limited (ASX:MFD), acquiring a 48.58% stake, which falls short of the 50.1% threshold required for control. While Embark initially reported holding a 39.49% voting power in Mayfield, a share registry reconciliation error has now revealed its total shareholding to be 48.58%. Embark's Bidder's Statement indicates that with a non-controlling stake, its ability to influence Mayfield will be significantly limited.

Aerometrex Secures Significant Government Contract Wins

Aerometrex Limited (ASX: AMX) has announced a series of new government contract wins across federal, state and local departments, securing approximately $2.5 million in revenue over 3 years. The contracts span MetroMap subscription and LiDAR project work, leveraging Aerometrex's status as an Australian-owned and operated business with established sovereign capability and onshore delivery. These awards provide increased revenue visibility and further strengthen the company's government customer base, positioning it favourably for ongoing and future procurement opportunities.

Air New Zealand suspends FY2026 guidance

Air New Zealand has suspended its FY2026 earnings guidance due to unprecedented volatility in global jet fuel markets following the recent escalation of conflict in the Middle East. Jet fuel prices have surged from around US$85-$90 per barrel to US$150-$200 per barrel, significantly impacting the airline's cost base. While 83% hedged against Brent crude, Air New Zealand remains exposed to the widening crack spread. The company has implemented initial fare adjustments and is progressing cost reduction initiatives, but further pricing action and network adjustments may be required if elevated fuel costs persist.

Update - S&P DJI March 2026 Rebalance of the All Ordinaries

S&P Dow Jones Indices has announced the March 2026 quarterly rebalance of the All Ordinaries index, with 26 additions and 24 removals effective prior to the open on March 23, 2026. Notable changes include African Gold Limited (A1G) no longer being added, and American Rare Earths Limited (ARR) remaining in the index. The updated constituent list can be viewed in the proforma files delivered to client SFTP accounts.

Elanor Investors Group reports FY25 results

Elanor Investors Group (ASX: ENN) has reported a challenging FY25, with a 6.5% decline in recurring funds management income to $46.1 million and a 169.1% drop in core earnings to a loss of $8.9 million. The group's gearing increased to 73.4% as it undertook a strategic review and stabilization plan. This included a $125 million recapitalization with Rockworth Capital Partners to refinance the balance sheet and establish a robust foundation for the next chapter, with a clear focus on managed fund performance, strengthened governance and disciplined capital deployment.