K64 Auxiliary Finance and Insurance Services

Monash IVF in growth mode after healthy float

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 17/22 : 27-Jun-14

Monash IVF started trading as high as $A1.97 early in the session on the Australian stock exchange on 26 June 2014. Stock in the provider of reproductive services had been issued at $A1.85 a share, and investors received 170.7 million units in the float. It raised $A315.6 million for the company earlier in June

CORPORATES
MONASH IVF GROUP LIMITED – ASX MVF, MONASH UNIVERSITY, IRONBRIDGE CAPITAL MANAGEMENT LLC, KL FERTILITY AND GYNAECOLOGY CENTRE SDN BHD, VIRTUS HEALTH LIMITED – ASX VRT

Ainsworth up $200m, doesn’t notice

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Original article by John Stensholt
The Australian Financial Review – Page: 1-Oct : 26-Jun-14

Ainsworth Game Technology chair Len Ainsworth ranks 19th in the 2014 "Rich List" compiled by "BRW", after his personal fortune grew $A200m to $A1.82bn. This was largely due to the strong share price gains of competitor Aristocrat Leisure, the group established by Ainsworth some six decades ago. Others on the list to boost their wealth via stock market gains include Andrew and Paul Bassat of SEEK, and John and Robert Kirby of Village Roadshow. Among those suffering declines are Graeme Wood of Wotif.com, Silviu Itescu of Mesoblast and Peter Bond of Linc Resources

CORPORATES
AINSWORTH GAME TECHNOLOGY LIMITED – ASX AGI, ARISTOCRAT LEISURE LIMITED – ASX ALL, SEEK LIMITED – ASX SEK, VILLAGE ROADSHOW LIMITED – ASX VRL, WOTIF.COM HOLDINGS LIMITED – ASX WTF, MESOBLAST LIMITED – ASX MSB, LINC ENERGY LIMITED, UNIVERSITY OF QUEENSLAND

$200m peace offer for Lew

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Original article by Sue Mitchell, Sarah Thompson
The Australian Financial Review – Page: 1-Oct : 25-Jun-14

Australian retailing identity Solomon Lew in 1997 acquired a blocking stake of 11.8% in Country Road. In 2014, he has duplicated the move by building a holding of 9.9% in David Jones (DJs). The takeover suitor in both cases is South Africa’s Woolworths, which has now been forced by Lew’s tactics to buy him out of Country Road and to offer $A17 a share. This is an increase of nearly 400% from the on-market price in early 2014. In exchange Woolworths will also be able to move to full ownership of DJs. Insiders say Woolworths had been keen to take control of Country Road in any case

CORPORATES
COUNTRY ROAD LIMITED – ASX CTY, DAVID JONES LIMITED – ASX DJS, WOOLWORTHS HOLDINGS LIMITED, PREMIER INVESTMENTS LIMITED – ASX PMV, NM ROTHSCHILD AND SONS (AUSTRALIA) LIMITED, GILBERT AND TOBIN LAWYERS, GREENHILL AND COMPANY, ARNOLD BLOCH LEIBLER, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. TAKEOVERS PANEL, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN RETAIL INVESTMENTS PTY LTD, MIMCO PTY LTD, WITCHERY FASHIONS PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, TRENERY

How will Lachlan Murdoch and James Packer react to Ten bid?

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Original article by James Thomson
The Australian Financial Review – Page: 20 : 24-Jun-14

US-based Providence Equity Partners is said to be preparing for a possible takeover of Australian-listed free-to-air TV group Ten Network. The reactions to such a bid by the four main stockholders will vary. Lachlan Murdoch and James Packer have suffered substantial losses on their investments in the company, and may be content to depart despite having to sell at about $A0.245 a share when they had bought in at $A1.50. Equally relieved to exit may be mining heiress Gina Rinehart, whose limited media sector exposure also includes Fairfax Media. The most likely to keep the faith that Ten will be turned around is TV industry stalwart Bruce Gordon, who owns 15%

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FAIRFAX MEDIA LIMITED – ASX FXJ, PROVIDENCE EQUITY PARTNERS INCORPORATED, ITV PLC, ITV NETWORK LIMITED, NEWS CORPORATION – ASX NWS, WIN TELEVISION PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)

Australian rally on Fed statements could be short-lived

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Original article by Sally Rose
The Australian Financial Review – Page: 13 and 22 : 20-Jun-14

Australia’s S&P/ASX 200 rose by 1.6 per cent on 19 June 2014, and the All Ordinaries Index was up 1.5 per cent. The bullish sentiment was prompted by indications that US interest rates are set to remain at a historic low in the near-term. Meanwhile, the Australian dollar rose to $US0.9423 and the yield on 10-year government bonds fell by two per cent. George Clapham of Arnhem Investment Management cautions that economic data in China will remain the key influence on the Australian sharemarket

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, ARNHEM INVESTMENT MANAGEMENT PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, RESERVE BANK OF AUSTRALIA, BANK OF ENGLAND, UNITED STATES. FEDERAL OPEN MARKET COMMITTEE, WILSON HTM LIMITED, MLC LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, EUROPEAN CENTRAL BANK

Pendulum sways to ‘Yes’

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Original article by Robert Harley
The Australian Financial Review – Page: 34 : 20-Jun-14

Westfield Retail Trust investors are expected to approve a restructuring of the group at a meeting on 20 June 2014. A vote on the proposed deal was postponed earlier in the month, when 25.9 per cent of proxy votes rejected the plan to merge the trust with the Australasian property portfolio of Westfield Group. Westfield Retail securities closed $A0.04 higher at $A3.21 on 19 June

CORPORATES
WESTFIELD RETAIL TRUST – ASX WRT, WESTFIELD GROUP – ASX WDC, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, UNISUPER LIMITED, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED, COLONIAL FIRST STATE GROUP LIMITED, COLONIAL HOLDING COMPANY LIMITED – ASX CNG

Vote on hold as Lew lifts DJs stake

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Original article by Blair Speedy
The Australian – Page: 21 : 20-Jun-14

Australian-listed department stores chain David Jones (DJs) has informed the market that it has asked the Federal Court to delay the stockholder vote on the friendly takeover bid by Woolworths. The deal worth $A2.15bn with the South African suitor has been placed into jeopardy by revelations that retailing sector identity Solomon Lew now holds 9.89% of the target. There are fears his goal is to build a blocking stake, to force Woolworths into buying him out of Country Road. He owns 11.8% of that business and Woolworths close to 88%. The DJs investor ballot will now be held on 14 July 2014 rather than 30 June

CORPORATES
DAVID JONES LIMITED – ASX DJS, COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, FEDERAL COURT OF AUSTRALIA, ASX LIMITED – ASX ASX, OWNERSHIP MATTERS PTY LTD, KING AND WOOD MALLESONS

ASIC won’t act on FoFA changes

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Original article by Sally Patten
The Australian Financial Review – Page: 20 : 23-Jun-14

Both new regulations and legislative amendments will be used by the Australian Government to change some aspects of the Future of Financial Advice (FoFA) laws, effective 1 July 2014. However, there is resistance to the amendments in the Senate by the Australian Labor Party, Australian Greens and Palmer United Party. The Australian Securities & Investments Commission is currently not penalising any breaches of those sections of the FoFA laws that are to be repealed, and will maintain this approach if the deadline of 1 July is missed by the Federal Government

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN GREENS, PALMER UNITED PARTY, FINANCIAL SERVICES COUNCIL, AUSTRALIAN FINANCIAL MARKETS ASSOCIATION INCORPORATED

Ban on financial fees

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 and 4 : 20-Jun-14

The Australian Government will wind back key measures of the Future of Financial Advice reforms, including the requirement that financial planners must act in the best interest of clients. Planners will also be barred from receiving up-front or trailing commissions for providing general advice to clients, while the requirement that clients must "opt-in" to receive financial advice will also be scrapped

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIAN BROADCASTING CORPORATION, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIAN CONSUMERS’ ASSOCIATION, NATIONAL SENIORS AUSTRALIA LIMITED, COUNCIL ON THE AGEING

Lew ups stake in DJs to 9.9pc

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Original article by Sue Mitchell
The Australian Financial Review – Page: 19/24 : 6/19/2014

The takeover worth $A2.2bn of Australian department stores chain David Jones (DJs) by South Africa’s Woolworths will need to be approved by DJs shareholders in a vote on 30 June 2014. However, a complication may have arisen under collateral benefits law, as retailing sector stalwart Solomon Lew has disclosed he now holds 9.9% of the target. While his motives are not clear, there is speculation he wants to push Woolworths into buying his 11.8% blocking stake in Country Road. Such a side deal would attract scrutiny by the Australian Securities & Investments Commission and the Takeovers Panel

CORPORATES
DAVID JONES LIMITED – ASX DJS, COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. TAKEOVERS PANEL, AUSTRALIAN RETAIL INVESTMENTS PTY LTD, CORRS CHAMBERS WESTGARTH, GOLDMAN SACHS AUSTRALIA PTY LTD, BLACKROCK INCORPORATED, DEUTSCHE BANK AG, ALLAN GRAY AUSTRALIA PTY LTD, AUSBIL DEXIA LIMITED, PERPETUAL INVESTMENTS, PERPETUAL LIMITED – ASX PPT, PENGANA CAPITAL LIMITED, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT