Ankündigung • Dec 30
Innovation Holdings Australia Pty Ltd (IHA) completed the acquisition of remaining 74% stake in iSelect Limited (ASX:ISU) from Microequities Asset Management Pty Limited, Thorney Investment Group Australia Pty. Ltd. and others. Innovation Holdings Australia Pty Ltd (IHA) entered into a Scheme Implementation Agreement to acquire remaining 74% stake in iSelect Limited (ASX:ISU) from Microequities Asset Management Pty Limited, Thorney Investment Group Australia Pty. Ltd. and others for AUD 53.3 million on August 10, 2022. Under the scheme, iSelect shareholders will receive cash consideration of AUD 0.30 per iSelect share. The break fee and reverse break fee, if payable, are each capped at an amount equal to 1% of the total equity value of iSelect under the Scheme. The maximum amount of break fee payable by IHA and iSelect each, shall be AUD 0.72 million. The iSelect Board unanimously recommends that iSelect shareholders vote in favour of the Scheme. The implementation of the Scheme is subject to approval by the Australian Competition and Consumer Commission, shareholder approval, court approval, iSelect Shareholders approval, an independent expert confirming that the transaction is in the best interests of iSelect and completion of acquisition by iSelect of a 49% shareholding in CIMET Holdings Pty Limited. As of September 28, 2022, ACCC has commenced the review of the transaction and is expected to deliver a statement on December 8, 2022. The Scheme Meeting at which eligible iSelect shareholders will vote on the proposed Scheme will be held on December 9, 2022. Subject to satisfaction of the conditions precedent to the Scheme (including ACCC approval), it is anticipated the Scheme will complete within the period from December 2022 to March 2023. As of December 2, 2022, the transaction has been aproved by ACCC. As of December 9, 2022, the scheme has been approved by the shareholders of iSelect. As of December 14, 2022, the scheme has been approved by the Federal Court of Australia. As of November 9, 2022, scheme is expected to be effective on December 15, 2022. As of December 15, 2022, the scheme is to be implemented on December 28, 2022. As of December 15, 2022, the shares of iSelect have been suspended from trading on ASX. iSelect is being advised by Canterbury Partners as financial adviser, and Mills Oakley as legal adviser. King & Wood Mallesons acted as legal advisor for iSelect. Computershare Investor Services Pty Limited acted as Registrar for iSelect Limited.
Innovation Holdings Australia Pty Ltd (IHA) completed the acquisition of remaining 74% stake in iSelect Limited (ASX:ISU) from Microequities Asset Management Pty Limited, Thorney Investment Group Australia Pty. Ltd. and others on December 28, 2022. As of December 29, 2022 iSelect Limited will be removed from the Official List following implementation of the scheme of arrangement. Ankündigung • Oct 28
iSelect Limited, Annual General Meeting, Nov 29, 2022 iSelect Limited, Annual General Meeting, Nov 29, 2022, at 14:30 AUS Eastern Standard Time. Agenda: To receive and consider the Company's Annual Financial Report including the Directors' Report and Auditor's Report for the year ended 30 June 2022; Adoption of to consider Remuneration Report; to consider Election of Ms Melissa Reynolds as a Director; to consider Re-election of Ms Bridget Fair as a Director; to consider Re-election of Mr Geoffrey Stalley as a Director; to consider Amendments to the Constitution; to consider Approval of leaver entitlements; and to consider other matters. Reported Earnings • Sep 01
Full year 2022 earnings released: AU$0.052 loss per share (vs AU$0.009 loss in FY 2021) Full year 2022 results: AU$0.052 loss per share (down from AU$0.009 loss in FY 2021). Revenue: AU$93.1m (down 16% from FY 2021). Net loss: AU$11.8m (loss widened 493% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 21% per year. Ankündigung • Aug 11
Innovation Holdings Australia Pty Ltd (IHA) entered into a Scheme Implementation Agreement to acquire remaining 74% stake in iSelect Limited (ASX:ISU) from Microequities Asset Management Pty Limited, Thorney Investment Group Australia Pty. Ltd. and others for AUD 53.3 million. Innovation Holdings Australia Pty Ltd (IHA) entered into a Scheme Implementation Agreement to acquire remaining 74% stake in iSelect Limited (ASX:ISU) from Microequities Asset Management Pty Limited, Thorney Investment Group Australia Pty. Ltd. and others for AUD 53.3 million on August 10, 2022. Under the scheme, iSelect shareholders will receive cash consideration of AUD 0.30 per iSelect share. The break fee and reverse break fee, if payable, are each capped at an amount equal to 1% of the total equity value of iSelect under the Scheme. The maximum amount of break fee payable by IHA and iSelect each, shall be AUD 0.72 million. The iSelect Board unanimously recommends that iSelect shareholders vote in favour of the Scheme. The implementation of the Scheme is subject to approval by the Australian Competition and Consumer Commission, shareholder approval, court approval, iSelect Shareholders approval, an independent expert confirming that the transaction is in the best interests of iSelect and completion of acquisition by iSelect of a 49% shareholding in CIMET Holdings Pty Limited. Subject to satisfaction of the conditions precedent to the Scheme (including ACCC approval), it is anticipated the Scheme will complete within the period from December 2022 to March 2023. iSelect is being advised by Canterbury Partners as financial adviser, and Mills Oakley as legal adviser. King & Wood Mallesons acted as legal advisor for iSelect. Ankündigung • Aug 10
iSelect Limited to Report Fiscal Year 2022 Results on Aug 23, 2022 iSelect Limited announced that they will report fiscal year 2022 results on Aug 23, 2022 Reported Earnings • Mar 02
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0.002 (up from AU$0.016 loss in 1H 2021). Revenue: AU$44.6m (down 14% from 1H 2021). Net income: AU$474.0k (up AU$4.02m from 1H 2021). Profit margin: 1.1% (up from net loss in 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Ankündigung • Feb 17
iSelect Limited to Report First Half, 2022 Results on Feb 28, 2022 iSelect Limited announced that they will report first half, 2022 results on Feb 28, 2022 Ankündigung • Feb 10
iSelect Limited Appoints Melissa Reynolds as Independent Non Executive Director, Effective 1 March 2022 iSelect Limited announced that Melissa Reynolds will join the iSelect Board as an independent Non Executive Director, effective 1 March 2022. Melissa has over 30 years' experience in financial services, energy and the media sector. She has held several senior executive positions in ASX 50 companies including as Chief Customer Officer at AGL, Executive General Manager, NAB, and General Manager White Pages, Sensis. Melissa is currently a NonExecutive Director at Teachers Mutual Bank Limited and a member of their Risk and Compliance and Remuneration Committees, and the inaugural Chair of the Tech and Innovation Committee. Melissa also serves as a Director of the Colonial Foundation and Deep Brain Stimulation Technologies Limited. Board Change • Jan 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Geoff Stalley was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 25
Full year 2021 earnings released: AU$0.009 loss per share (vs AU$0.093 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: AU$111.0m (down 7.9% from FY 2020). Net loss: AU$1.99m (loss narrowed 90% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 25
Inaugural dividend of AU$0.01 per share Eligible shareholders must have bought the stock before 01 June 2021. Payment date: 22 June 2021. The company last paid an ordinary dividend in February 2018. The average dividend yield among industry peers is 1.1%. Ankündigung • Apr 27
iSelect Limited Announces Special Distribution, Payable on June 22, 2021 iSelect Limited announced distribution amount of AUD 0.00100000 per share with Ex Date June 1, 2021, Record Date June 2, 2021 and payment date is June 22, 2021. Executive Departure • Mar 03
Independent Non-Executive Chairman Christopher Knoblanche has left the company On the 28th of February, Christopher Knoblanche's tenure as Independent Non-Executive Chairman ended after 5.7 years in the role. As of December 2020, Christopher personally held 418.09k shares (AU$119k worth at the time). A total of 2 executives have left over the last 12 months. Ankündigung • Feb 26
iSelect Limited Announces Executive Changes The Board of iSelect Limited announced the appointment of Brodie Arnhold as Chairman, effective 1 March 2021. Brodie first joined the Board in 2014, before serving as interim CEO between April 2018 and October 2020. Upon finishing as CEO, Brodie returned to the Board and has played an instrumental role in assisting with the CEO transition. Current Chairman Chris Knoblanche will be leaving the Board on 28 February 2021. Is New 90 Day High Low • Feb 23
New 90-day high: AU$0.34 The company is up 11% from its price of AU$0.31 on 25 November 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is down 1.0% over the same period. Ankündigung • Feb 18
iSelect Limited to Report First Half, 2021 Results on Feb 25, 2021 iSelect Limited announced that they will report first half, 2021 results on Feb 25, 2021 Is New 90 Day High Low • Jan 20
New 90-day low: AU$0.27 The company is down 27% from its price of AU$0.37 on 22 October 2020. The Australian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 5.0% over the same period. Ankündigung • Dec 19
iSelect Limited Enters Digital Marketing Partnership with News Corp Australia iSelect Limited announced it has entered an exclusive digital marketing partnership with News Corp. Australia (News Corp). Under the agreement, News Corp. will receive payment for lead generation, content creation and revenue share of converted sales. Commencing on January 1st, 2021, the two-year agreement is valued at a minimum cost of $4.5 million. Payment terms are 50 per cent via scrip (shares) up to a maximum of 5% of ISU's total issued share capital per annum and the remaining 50% in cash. The share price will be calculated on 90-day (prior period) VWAP with scrip payments calculated quarterly. Ankündigung • Oct 14
iSelect Limited Announces Executive Changes iSelect Limited announced notification of permanent CEO appointment. Brodie Arnhold was appointed Interim CEO in April 2018, having previously served as Independent Non-Executive Director since September 2014. The Board asked Brodie to take on the CEO role in an interim capacity to lead the Executive Team and address a number of significant issues within the business, all of which are now resolved. Warren Hebard, currently Chief Marketing & Commercial Officer, has been appointed as iSelect CEO, effective 1 November 2020. With Warren's appointment, Brodie will remain on the iSelect Board, and will mentor Warren to ensure a smooth transition. Warren joined iSelect in March 2018 as Chief Marketing Officer and in July 2020 his role was expanded to include responsibility for iSelect's commercial partnerships. Warren has made a significant contribution in this time, in particular with regard to improved marketing spend efficiency performance and he has played a key role in the turnaround of the business' trajectory from 2018. Is New 90 Day High Low • Oct 08
New 90-day high: AU$0.34 The company is up 70% from its price of AU$0.20 on 10 July 2020. The Australian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is up 18% over the same period. Ankündigung • Aug 25
iSelect Limited to Report Fiscal Year 2020 Results on Aug 27, 2020 iSelect Limited announced that they will report fiscal year 2020 results at 10:23 PM, GMT Standard Time on Aug 27, 2020