In today’s briefing:
- Ainsworth Game Technology (AGI AU): 29th August Vote On Novomatic’s “Low-Balled Offer”
- Rio Tinto (RIO AU) 1H25 Results on 30 July: Earning Yield from Volatility Premium
- Imdex Ltd – The Overnight Report: Tariff Reality Bites
- Readcloud Ltd – Driving growth through schools
Ainsworth Game Technology (AGI AU): 29th August Vote On Novomatic’s “Low-Balled Offer”
- Back on the 28th April 2025, Ainsworth Game Technology (AGI AU), an Aussie gaming supplier, entered into a Scheme with Austria’s Novomatic, Ainsworth’s largest shareholder (52.9%).
- Novomatic offered A$1.00/share (best & final) – including a permitted dividend – a 35% premium to last close; yet 64% below what Novomatic paid for its controlling stake in 2016.
- The Scheme Doc is now out, with a shareholder vote on the 29th August. The IE says fair & reasonable. They are probably tight.
Rio Tinto (RIO AU) 1H25 Results on 30 July: Earning Yield from Volatility Premium
- Rio Tinto Ltd (RIO AU) / (RIO LN) / (RIO US) is scheduled to report its 2025 half year results on Wednesday, 30 July 2025 at 16:15 AEST.
- Actionable Option Strategy: Options imply a move noticeably larger than the historical average, opening up a potential short-term yield opportunity. Trade setup discussed in detail.
- Why Read: The Insight outlines yield-focused short-vol strategies, the expected volatility crush, and a forecast for Rio’s interim dividend based on payout policy and timing.
Imdex Ltd – The Overnight Report: Tariff Reality Bites
- European markets turned negative as sentiment following the US trade tariiff deal moved to ‘not great’ from ‘better than expected’.
- The Nasdaq edged to a new high, but enthusiasm across the board was weak.
- ASX futures are suggesting a soft start as Australia and other countries remain in the US line of sight for blanket 15%-20% tariffs.
Readcloud Ltd – Driving growth through schools
- ReadCloud Limited (ASX:RCL) services the education sector through the provision of digital learning content, proprietary interactive technology, and support for students and educators.
- The company delivered a solid June quarter, recording a 35% increase in cash receipts over the previous corresponding period (pcp) to $4.6m and maintaining disciplined cost control at the operating level.
- Its VET-in-Schools segment continues to grow strongly with a 27% revenue uplift and high gross margins (>90%) to date in FY25.
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