Aankondiging • Oct 25
DDH1 Limited ORDINARY FULLY PAID to Be Deleted from OTC Equity DDH1 Limited ORDINARY FULLY PAID (Australia) will be deleted from OTC Equity effective October 24, 2023, due to Acquisition /Merger /Amalgamation. Aankondiging • Oct 08
Perenti Limited (ASX:PRN) completed the acquisition of DDH1 Limited (ASX:DDH). Perenti Limited (ASX:PRN) entered into an agreement to acquire DDH1 Limited (ASX:DDH) for approximately AUD 400 million on June 26, 2023. Under the terms of the transaction, DDH1 shareholders will receive consideration of AUD 0.1238 cash plus 0.71114 Perenti Shares for each DDH1 Share held at the record date, unless an election is made. On completion, DDH1 will combine with Perenti to create the ASX’s leading contract mining services group. Rob Cole to remain Chair of Perenti; Mark Norwell and Peter Bryant will remain MD & CEO and CFO of Perenti, respectively. DDH1 CEO, Sy Van Dyk, will become President of the newly formed Drilling Services Division, which will include DDH1 Ranger, Strike, Swick and Perenti’s Ausdrill. Unanimously recommended by the DDH1 Board (who control 13.1% of shares outstanding), in the absence of a superior proposal and subject to the Independent Expert concluding that the Scheme is in the best interests of shareholders. Transaction is subject to court approval. DDH1 has declared a dividend of AUD 0.0196 per DDH1 Share for the period ended June 30, 2023. Perenti has determined that no dividend will be paid in respect of the period ending June 30, 2023. This means the Perenti Actual Dividend, and PAD1 and PAD2 referred to in the Scheme Booklet, will all be zero. The consideration VWAP (CVWAP), being the volume-weighted average price of Perenti Shares traded on the ASX over the five-trading day period that ends two business days prior to the Election Date, is currently expected to be calculated after the close-of-trade on September 8, 2023 and is not yet finalised at the date of releasing this Supplementary Scheme Booklet. Completion of the proposed transaction is anticipated to occur in early October 2023. The transaction is expected to close on October 6, 2023. Perenti is being advised by UBS and MA Moelis Australia acted as financial advisor to DDH1 Limited, Johnson Winter & Slattery acted as legal advisor to Perenti and Clayton Utz acted as legal advisor to DDH1 Limited.
Perenti Limited (ASX:PRN) completed the acquisition of DDH1 Limited (ASX:DDH) on October 6, 2023. An aggregate cash consideration of $50,010,897.39 was paid, Perenti has issued a total of279,704,558 new Perenti shares in accordance with the Scheme. The new Perenti shares are expected to commence trading on the ASX on 9 October 2023. On completion, Mark Hine will take the opportunity to retire from the Perenti Board; and Diane Smith-Gander AO and Andrea Sutton will be appointed to the Perenti Board. It is anticipated that Diane and Andrea will be appointed on Monday, 16 October 2023. DDH1 will be delisted from the official list of ASX, which is expected to take effect from the close of trading on 9 October 2023. Upcoming Dividend • Sep 07
Upcoming dividend of AU$0.02 per share at 6.0% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 28 September 2023. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Australian dividend payers (7.0%). In line with average of industry peers (5.5%). Aankondiging • Aug 30
Ddh1 Limited Announces Final Fully Franked Dividend for the Six Months Ended June 30, 2023, Payable on September 28, 2023 DDH1 Limited announced final fully franked dividend of AUD 0.01960000 for the six months ended June 30, 2023. Ex Date is September 14, 2023. Record Date is September 15, 2023. Payment Date is September 28, 2023. Aankondiging • Aug 29
DDH1 Limited, Annual General Meeting, Nov 24, 2023 DDH1 Limited, Annual General Meeting, Nov 24, 2023. Reported Earnings • Aug 29
Full year 2023 earnings released: EPS: AU$0.10 (vs AU$0.095 in FY 2022) Full year 2023 results: EPS: AU$0.10 (up from AU$0.095 in FY 2022). Revenue: AU$565.1m (up 36% from FY 2022). Net income: AU$42.5m (up 19% from FY 2022). Profit margin: 7.5% (down from 8.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Metals and Mining industry in Australia. Aankondiging • Aug 24
DDH1 Limited to Report Fiscal Year 2023 Results on Aug 29, 2023 DDH1 Limited announced that they will report fiscal year 2023 results on Aug 29, 2023 Aankondiging • Jun 28
Perenti Limited (ASX:PRN) entered into an agreement to acquire DDH1 Limited (ASX:DDH) for approximately AUD 400 million. Perenti Limited (ASX:PRN) entered into an agreement to acquire DDH1 Limited (ASX:DDH) for approximately AUD 400 million on June 26, 2023. Unanimously recommended by the DDH1 Board (who control 13.1% of shares outstanding), in the absence of a superior proposal and subject to the Independent Expert concluding that the Scheme is in the best interests of shareholders. Transaction is subject to court approval. Rob Cole to remain Chair of Perenti; Mark Norwell and Peter Bryant will remain MD & CEO and CFO of Perenti, respectively. Perenti is being advised by UBS and Johnson Winter Slattery in relation to the Transaction. Major Estimate Revision • Jun 28
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from AU$567.4m to AU$538.3m. EPS estimate also fell from AU$0.146 per share to AU$0.127 per share. Net income forecast to grow 13% next year vs 0.2% decline forecast for Metals and Mining industry in Australia. Consensus price target down from AU$1.20 to AU$1.01. Share price was steady at AU$0.85 over the past week. Price Target Changed • Jun 27
Price target decreased by 15% to AU$1.01 Down from AU$1.20, the current price target is an average from 3 analysts. New target price is 17% above last closing price of AU$0.86. Stock is up 38% over the past year. The company is forecast to post earnings per share of AU$0.13 for next year compared to AU$0.095 last year. Price Target Changed • Jun 26
Price target decreased by 7.8% to AU$1.13 Down from AU$1.23, the current price target is an average from 4 analysts. New target price is 23% above last closing price of AU$0.92. Stock is up 43% over the past year. The company is forecast to post earnings per share of AU$0.15 for next year compared to AU$0.095 last year. Recent Insider Transactions • Apr 15
Insider recently sold AU$7.7m worth of stock On the 13th of April, Matt Thurston sold around 9m shares on-market at roughly AU$0.84 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$7.6m more than they bought in the last 12 months. Upcoming Dividend • Mar 13
Upcoming dividend of AU$0.033 per share at 7.0% yield Eligible shareholders must have bought the stock before 20 March 2023. Payment date: 11 April 2023. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 7.0%. Lower than top quartile of Australian dividend payers (7.1%). Lower than average of industry peers (8.7%). Price Target Changed • Mar 01
Price target decreased by 7.6% to AU$1.26 Down from AU$1.36, the current price target is an average from 4 analysts. New target price is 35% above last closing price of AU$0.93. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of AU$0.15 for next year compared to AU$0.095 last year. Reported Earnings • Feb 28
First half 2023 earnings released: EPS: AU$0.068 (vs AU$0.06 in 1H 2022) First half 2023 results: EPS: AU$0.068 (up from AU$0.06 in 1H 2022). Revenue: AU$295.1m (up 75% from 1H 2022). Net income: AU$28.4m (up 44% from 1H 2022). Profit margin: 9.6% (down from 12% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Aankondiging • Feb 06
DDH1 Limited to Report First Half, 2023 Results on Feb 28, 2023 DDH1 Limited announced that they will report first half, 2023 results on Feb 28, 2023 Aankondiging • Feb 03
DDH1 Limited Announces Appointment of Simon Franich as Chief Financial Officer, Effective 24 April 2023 DDH1 Limited announced the appointment of Simon Franich as its Chief Financial Officer (CFO), effective 24 April 2023. Simon is a highly experienced Chartered Accountant with over 15 years of professional services and industry experience. He previously served as DDH1's Group Financial Controller from August 2019 to January 2022, and more recently, as CFO of Norcliffe Mining Services. During his career, he held senior roles in the audit division with professional service firms Deloitte and Grant Thornton. Price Target Changed • Nov 16
Price target decreased to AU$1.33 Down from AU$1.62, the current price target is an average from 4 analysts. New target price is 49% above last closing price of AU$0.90. Stock is down 24% over the past year. The company is forecast to post earnings per share of AU$0.14 for next year compared to AU$0.095 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. CEO, MD & Director Sy van Dyk was the last director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Nov 03
Ddh1 Limited Announces Resignation of Ben Mackinnon as Chief Financial Officer DDH1 Limited advises that Chief Financial Officer, Ben MacKinnon has announced his intention to leave the Company. Ben will depart the Company at the end of January 2023 to pursue external opportunities and will assist DDH1 in the transition to a new CFO. Managing Director and CEO, Sy Van Dyk, said "Ben has made an outstanding contribution to DDH1 since joining as CFO in April 2018. He has been instrumental as part of the executive team in steering DDH1 through multipleacquisitions and DDH1's IPO and ASX listing. Ben has shown dedication and strategic leadership to bring a rigorous approach to the financial management ofDDH1 and leaves DDH1 in a strong financial position. Upcoming Dividend • Sep 08
Upcoming dividend of AU$0.026 per share Eligible shareholders must have bought the stock before 15 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 54% and the cash payout ratio is 96%. Trailing yield: 6.0%. Lower than top quartile of Australian dividend payers (6.6%). Lower than average of industry peers (10.0%). Reported Earnings • Aug 31
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: AU$0.095 (down from AU$0.19 in FY 2021). Revenue: AU$415.4m (up 41% from FY 2021). Net income: AU$35.9m (down 37% from FY 2021). Profit margin: 8.6% (down from 19% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 36%, compared to a 91,060% growth forecast for the Metals and Mining industry in Australia. Aankondiging • Aug 23
DDH1 Limited to Report Fiscal Year 2022 Results on Aug 30, 2022 DDH1 Limited announced that they will report fiscal year 2022 results on Aug 30, 2022 Price Target Changed • Jul 27
Price target decreased to AU$1.30 Down from AU$1.62, the current price target is an average from 3 analysts. New target price is 80% above last closing price of AU$0.72. Stock is down 37% over the past year. The company is forecast to post earnings per share of AU$0.12 for next year compared to AU$0.19 last year. Aankondiging • Jul 26
DDH1 Limited to Report Fiscal Year 2022 Results on Jul 26, 2022 DDH1 Limited announced that they will report fiscal year 2022 results on Jul 26, 2022 Major Estimate Revision • May 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from AU$0.13 to AU$0.12. Revenue forecast unchanged from AU$409.2m at last update. Net income forecast to shrink 19% next year vs 36% growth forecast for Metals and Mining industry in Australia . Consensus price target down from AU$1.62 to AU$1.58. Share price fell 4.5% to AU$0.84 over the past week. Recent Insider Transactions • May 11
Independent Non-Executive Chairperson recently bought AU$55k worth of stock On the 10th of May, Diane Smith-Gander bought around 62k shares on-market at roughly AU$0.88 per share. This was the largest purchase by an insider in the last 3 months. Diane has been a buyer over the last 12 months, purchasing a net total of AU$102k worth in shares. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. CEO, MD & Director Sy van Dyk was the last director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 10
Upcoming dividend of AU$0.025 per share Eligible shareholders must have bought the stock before 17 March 2022. Payment date: 08 April 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Australian dividend payers (5.8%). Lower than average of industry peers (8.5%). Reported Earnings • Feb 28
First half 2022 earnings: EPS exceeds analyst expectations First half 2022 results: EPS: AU$0.06 (up from AU$0.046 in 1H 2021). Revenue: AU$168.7m (up 19% from 1H 2021). Net income: AU$19.7m (up 47% from 1H 2021). Profit margin: 12% (up from 9.5% in 1H 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 67%. Over the next year, revenue is forecast to grow 51%, compared to a 787% growth forecast for the industry in Australia. Aankondiging • Feb 26
Ddh1 Limited Declares Dividend for the Period of Six Months Ended December 31, 2021, Payable on April 8, 2022 DDH1 Limited declared dividend of AUD 0.02510000 for the period of six months ended December 31, 2021. Ex-date on March 17, 2022. Record date on March 18, 2022. Payable on April 8, 2022. Aankondiging • Feb 18
DDH1 Limited (ASX:DDH) completed the acquisition of Drilling business of Swick Mining Services Limited from Swick Mining Services Limited (ASX:SWK). DDH1 Limited (ASX:DDH) reached a non-bonding agreement to acquire Drilling business of Swick Mining Services Limited (ASX:SWK) for AUD 97.7 million on October 12, 2021. Under a Scheme of Arrangement Swick shareholders are to receive 0.2970 new DDH1 shares for each Swick share held. In addition, Swick shareholders will also receive Orexplore shares. DDH1 expects to issue approximately 84.2 million new DDH1 shares upon completion. Upon completion of the Proposed Transaction, Swick shareholders will own approximately 19.7% of the combined business. Proposed transaction values Swick Drilling Business at an enterprise value of AUD 115 million – 3.8x FY21 Drilling Business EBITDA and 6.7x FY21 Drilling Business Pro-Forma EBIT. Swick Drilling business reported EBITDA of AUD 30.4 million and EBIT of AUD 17.2 million for the financial year ended June 30, 2021. The Proposed Transaction is conditional on, among other things, negotiation of a binding Scheme Implementation Agreement between the parties, which is expected to occur shortly. Transaction is subject to various matters, including Finalizing and executing of a Scheme Implementation Agreement, for approval by DDH1 and Swick Boards, Securing regulatory approvals for the Proposed Transaction, Swick shareholder approval, Court approval and meeting other customary conditions; and Foreign Investment Review Board (FIRB) approval. Subject to entry into the Scheme Implementation Agreement, the Board of Swick intends to unanimously recommend the Proposed Transaction to shareholders (subject to no superior proposal and the independent expert recommending the Proposed Transaction).
The transaction is expected to occur following completion of the Orexplore demerger by Swick. The Proposed Transaction is expected to be approximately 10% - 15% earnings accretive based on DDH1 and Swick’s FY21 performance and conservative synergies being achieved. Moelis Australia Securities Pty Ltd. acted as financial advisor and Clayton Utz acted as legal advisor to DDH1 Limited. Shaw and Partners Limited acted as financial advisor and HWL Ebsworth Lawyers Pty Ltd. acted as legal advisor to Swick Mining Services Limited. Jamie Litchen, Jonathan Sherman, James Lyle and Stacey Weltman of Cassels acted as legal advisor to DDH1. On 17, January 2022, Swick Mining Services Limited approved transaction. As on February, 7, 2022, Swick are pleased to announce that Swick has today lodged with the Australian Securities and Investment Commission (ASIC) a copy of the orders of the Supreme Court of Western Australia (Orders) approving the scheme of arrangement pursuant to which DDH1, through its wholly owned subsidiary DDH1 FinCo Pty Ltd, will acquire all of the shares in Swick. The Scheme is expected to be implemented on 16 February 2022, and on implementation, all eligible Swick shareholders will receive 0.2970 new DDH1 shares for each Swick share held on the Record Date of 9 February 2022.
DDH1 Limited (ASX:DDH) completed the acquisition of Drilling business of Swick Mining Services Limited from Swick Mining Services Limited (ASX:SWK) on February 16, 2022. Aankondiging • Feb 15
DDH1 Limited to Report First Half, 2022 Results on Feb 25, 2022 DDH1 Limited announced that they will report first half, 2022 results on Feb 25, 2022 Reported Earnings • Aug 30
Full year 2021 earnings released: EPS AU$0.19 (vs AU$0.085 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$294.6m (up 18% from FY 2020). Net income: AU$57.2m (up 132% from FY 2020). Profit margin: 19% (up from 9.9% in FY 2020). The increase in margin was driven by higher revenue. Aankondiging • Mar 09
DDH 1 Drilling Pty Ltd. has completed an IPO in the amount of AUD 150 million. DDH 1 Drilling Pty Ltd. has completed an IPO in the amount of AUD 150 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 136,363,636
Price\Range: AUD 1.1
Discount Per Security: AUD 0.04125