In today’s briefing:
- PointsBet (PBH AU): Betr Bumps a Second Time but Fails to Check Its Work
- JSE Sep ‘25 Rebalance: GLN Expected to Enter Top 40, APN to Fall Out
- Higher Lows Supporting New Hope Shares
PointsBet (PBH AU): Betr Bumps a Second Time but Fails to Check Its Work
- BETR Entertainment (BBT AU) has disclosed revised terms but has failed to check its work. The announcement has two revised scrip ratios – 4.735 (in bold) and 4.375.
- To match the stated PointsBet Holdings (PBH AU) offer value, the scrip ratio should be 4.375. The revised terms suggest that Betr is struggling to secure acceptances.
- The key issue remains that Betr will be unable to exercise compulsory acquisition rights to realise its stated synergies, a key pitch for shareholders to favour its all-scrip offer.
JSE Sep ‘25 Rebalance: GLN Expected to Enter Top 40, APN to Fall Out
- Last night, the price snapshot was taken for the JSE September 2025 rebalance.
- GLN is expected to enter the Top 40 index, with APN falling out.
- No changes are expected for the FINDI, FINI, INDI or RESI indices.
Higher Lows Supporting New Hope Shares
- Michael Gable of Fairmont Equities notes shares in New Hope Corp are finding technical support from a series of higher lows on the price chart.
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