Board Change • Aug 25
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Murray Rutherford is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Oct 31
Dynamic Group Holdings Limited, Annual General Meeting, Nov 29, 2024 Dynamic Group Holdings Limited, Annual General Meeting, Nov 29, 2024. Location: 76 hasler way osborne park wa, Australia Announcement • Sep 10
Dynamic Group Holdings Limited Announces Changes to the Board of Directors Dynamic Group Holdings Limited refers to the announcement on 9 September 2024 that at close of the on-market takeover offer (‘Offer’) by Australian Meat Industry Superannuation Pty Ltd. as trustee for Australian Meat Industry Superannuation Trust trading as Australian Food Super (‘AFS’), AFS acquired an interest and voting power in 98.979% of Dynamic. In light of the effective change of control, the Company announced that Mr. Craig David Hughes has been appointed Chairperson of the Company and Messrs Andrew Malcolm Haslam and Murray Frith Rutherford have been appointed as directors (‘Incoming Directors’). The Incoming Directors bring a wealth of experience and expertise to the Company as set out in Appendix 1 of this announcement and Dynamic believes that the Incoming Directors are well- suited and have the necessary skills and experience based on their respective credentials to effectively lead the Company. To ensure a clear strategic direction for the Company moving forward, the current board of directors, Messrs Garret Dixon, Mark Davis, George Garnett, Mark Hine and Matthew Freedman (‘Outgoing Directors’) have decided to step down as directors of the Company effective from the close of the Offer on 9 September 2024. Each of the Outgoing Directors consider this to be in the best interest of the Company going forward. Dynamic also advised that Mr. James Bahen has stepped down as Company Secretary, effective close of the Offer on 9 September 2024, and the Company has appointed Sam Wright and Thomas May as Joint Company Secretaries. Dynamic, together with AFS, is committed to ensuring a smooth transition and continued growth for the Company and notes that the transition process between the leadership team has been a continued effort from both parties leading up to the close of the Offer. The senior management team of Dynamic will continue under the new leadership of the Incoming Directors, working diligently to ensure a seamless transition. Dynamic looks forward to a new chapter for the Company under the efforts and leadership of the Incoming Directors. Murray Rutherford: With a career spanning over 30 years, Murray has held prominent leadership roles across the financial services industry. Since 2017 as the CEO and CIO of AFS, Murray has driven the company's strategic growth, bringing extensive expertise in investment strategy and governance. Alongside his leadership role at AFS, he serves as a director on multiple boards within the mining and energy sectors, where he contributes to the strategic direction and oversight of these organisations. Prior to AFS, Murray held key senior management roles at SFG Australia Limited, ANZ Wealth and APRA (Australian Prudential Regulation Authority), bringing with him considerable experience with product development in the financial services field. Andrew Haslam: Andrew is a mining professional with over 35 years' experience in a range of commodities including iron ore, coal, gold, nickel, copper and manganese. His operating experience includes senior management positions with civil and mining contractors Downer Group, HWE Mining, Mineral Recourses Limited, Thiess and AWP Contractors. He has been responsible for large infrastructure projects which have included iron ore processing plants, rail wagon and locomotive construction. In addition, he has undertaken a number of long-term leadership consulting positions with major Australian mining companies across Australia. For 9 years, he was a non-executive director of BC Iron Limited (now known as BC Minerals Ltd. and CEO of Territory Resources Ltd. and currently consults to several ASX listed mining companies. Craig Hughes: Craig is a Partner at Hall Chadwick Sydney who has run his own advisory business - Pharus Advisory Group for the past 10 years and prior to that was a partner at other leading mid-tier accounting firms. Craig is currently Chair of the Harvest Hotels Group Investment Committee. He specialises in corporate and SME advisory and enjoys a close working relationship with his clients across a range of industries, including transport, wholesale trade, agriculture, and property. Craig is a director and founder of Pharus Wealth Advisory. Recent Insider Transactions • Sep 03
Executive Director recently sold AU$2.7m worth of stock On the 30th of August, Matthew Freedman sold around 10m shares on-market at roughly AU$0.28 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth AU$15m. Insiders have been net sellers, collectively disposing of AU$28m more than they bought in the last 12 months. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 19% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks High level of debt (57% net debt to equity). Share price has been volatile over the past 3 months (14% average weekly change). Significant insider selling over the past 3 months (AU$26m sold). Market cap is less than US$100m (AU$38.9m market cap, or US$26.5m). Reported Earnings • Aug 30
Full year 2024 earnings released: AU$0.062 loss per share (vs AU$0.015 profit in FY 2023) Full year 2024 results: AU$0.062 loss per share (down from AU$0.015 profit in FY 2023). Revenue: AU$76.4m (down 26% from FY 2023). Net loss: AU$8.58m (down AU$10.6m from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Recent Insider Transactions Derivative • Aug 21
Independent Non-Executive Director exercised options to buy AU$70k worth of stock. On the 19th of August, Mark Hine exercised options to buy 250k shares at a strike price of around AU$0.28, costing a total of AU$70k. This transaction amounted to 333% of their direct individual holding at the time of the trade. Since June 2024, Mark has owned 75.00k shares directly. Company insiders have collectively sold AU$26m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Aug 10
Insider recently sold AU$4.6m worth of stock On the 6th of August, Joel Skipworth sold around 16m shares on-market at roughly AU$0.28 per share. This transaction amounted to 100% 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$7.4m more than they bought in the last 12 months. Announcement • Jul 26
Australian Meat Industry Superannuation Trust proposed to acquire remaining 80.13% stake in Dynamic Group Holdings Limited (ASX:DDB) from Ganan Capital Pty Ltd, Goldfire Enterprises Pty Ltd, RPM super fund and Nitro super Fund and others. Australian Meat Industry Superannuation Trust proposed to acquire remaining 80.13% stake in Dynamic Group Holdings Limited (ASX:DDB) from Ganan Capital Pty Ltd, Goldfire Enterprises Pty Ltd, RPM super fund and Nitro super Fund and others on July 26, 2024. A cash consideration valued at AUD 0.28 per share will be paid by Australian Meat Industry Superannuation Trust. Upon completion, Australian Meat Industry Superannuation Trust will own 100% stake in Dynamic Group Holdings Limited. AFS will fund the maximum cash consideration from existing cash reserves.
The expected completion of the transaction is September 9, 2024.
Gadens acted as legal advisor for Australian Meat Industry Superannuation Trust. Sternship Advisers Pty Ltd. acted as financial advisor for Dynamic Group Holdings Limited. Hamilton Locke Pty Ltd acted as legal advisor for Dynamic Group Holdings Limited. New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (AU$29.2m market cap, or US$19.1m). Announcement • Feb 19
Dynamic Group Holdings Limited (ASX:DDB) completed the acquisition of Airwell Flow Testing from Airwell Group Pty Ltd. Dynamic Group Holdings Limited (ASX:DDB) agreed to acquire Airwell Flow Testing from Airwell Group Pty Ltd for AUD 2 million on January 17, 2024. As part of the consideration, AUD 1.50 million is paid upfront in cash and AUD 0.5 million will be paid as deferred payment towards business division. The completion is subject to satisfaction of customary conditions. The transaction is expected to be completed in February 2024. Dynamic Group Holdings Limited (ASX:DDB) completed the acquisition of Airwell Flow Testing from Airwell Group Pty Ltd on February 19, 2024. Announcement • Nov 29
Dynamic Group Holdings Limited Announces Appointment of Mark Hine as Independent Non-Executive Director Dynamic Group Holdings Limited advised that Mr. Mark Hine has been appointed as Independent Non-Executive Director of the Company. In conjunction with this appointment, Executive director, Mr. Joel Skipworth will transition to a Group Asset Executive role within the Company. The changes come into effect from 1 December 2023. Mr. Hine is a mining engineer and experienced Non-Executive Director and has extensive global mining experience with over 30 years of senior management roles in both surface and underground mining operations across Australia, New Zealand, Turkey, and China. Mr. Hine previously held senior positions in the mining industry as Chief Operating Officer at Griffin Mining Ltd, Chief Operating Officer at Focus Minerals Ltd, Chief Operating Officer at Golden West Resources Ltd, Executive General Manager Mining at Macmahon Contractors Pty Ltd, Chief Executive Officer at Queensland Industrial Minerals Ltd, General Manager at Consolidated Rutile Ltd. and General Manager Pasminco, Broken Hill /Elura Mines. While acting on the Perenti Limited board, Mr. Hine was the Chair of their People and Remuneration Committee, a Member of the Sustainability Committee as well as a Member of the Nominations Committee. Mr. Skipworth will be transition from his Executive Director role to focus on his Group Asset Executive role. Joel has over 20 years of asset and mechanical experience and is a co-founder of Orlando Drilling. Announcement • Oct 26
Dynamic Group Holdings Limited Announces Board Changes Dynamic Group Holdings Limited advised that Mr. Mark Davis will be transitioning from Executive Director of Business Development and Technical Services into a Non-Executive Director role, effective 14th January 2024. Under this arrangement the Company is pleased that Mark will continue to provide invaluable technical consulting services to the group. This transition has been enabled through the appointment of Geoff Newman, Chief Executive Officer who has gained significant traction since joining the group in February 2023. Geoff's senior executive experience and competency has provided the depth of skills to provision for the transition of Mark into a Non-Executive role. Mark was a founder of Dynamic Drill and Blast in 2011 and has been a critical leader and contributor to the growth of Dynamic Group Holdings, through the acquisitions of Orlando Drilling and Welldrill, as well as through fostering the business into the position of strength and industry best practice technical competency that it offers its customers. Announcement • Sep 15
Dynamic Group Holdings Limited, Annual General Meeting, Nov 15, 2023 Dynamic Group Holdings Limited, Annual General Meeting, Nov 15, 2023. New Risk • Sep 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 71% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (AU$39.4m market cap, or US$25.5m). Reported Earnings • Aug 30
Full year 2023 earnings released: EPS: AU$0.016 (vs AU$0.018 in FY 2022) Full year 2023 results: EPS: AU$0.016 (down from AU$0.018 in FY 2022). Revenue: AU$103.4m (up 42% from FY 2022). Net income: AU$1.99m (down 3.0% from FY 2022). Profit margin: 1.9% (down from 2.8% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Recent Insider Transactions Derivative • Jul 16
Non-Executive Chairman exercised options to buy AU$475k worth of stock. On the 14th of July, Garret Dixon exercised options to buy 2m shares at a strike price of around AU$0.25, costing a total of AU$477k. This transaction amounted to 22% of their direct individual holding at the time of the trade. Since September 2022, Garret's direct individual holding has increased from 305.56k shares to 8.33m. Company insiders have collectively bought AU$1.1m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Feb 28
First half 2023 earnings released: AU$0.02 loss per share (vs AU$0.012 profit in 1H 2022) First half 2023 results: AU$0.02 loss per share (down from AU$0.012 profit in 1H 2022). Revenue: AU$45.9m (up 35% from 1H 2022). Net loss: AU$2.51m (down 277% from profit in 1H 2022). Announcement • Dec 07
Dynamic Group Holdings Limited Appoints Geoff Newman as Group Chief Executive Officer Dynamic Group Holdings Limited advised that highly experienced mining services executive Mr. Geoff Newman will join the Company as group Chief Executive Officer from March 2023. Mr. Newman has operated at an executive level within the contracting and mining services sector for over 22 years. Most recently Geoff has performed various executive level roles within Emeco Holdings Ltd. since 2013. Prior to Mr. Newman's time with Emeco, he was CEO for a water drilling business which provided similar services to Dynamic Group's wholly owned Welldrill subsidiary. Mr. Newman has also held another executive position within a drilling business. Mr. Newman holds a Bachelor of Engineering (Hons) from the University of Western Australia and has strong commercial acumen complementing his technical and operational skill set. Mr. Newman has held several international and national appointments and has relevant executive positions through growth phases driven organically and via acquisition. Mr. Newman has proven capability to hold financial and operational accountability for large and complex contracting and mining services businesses, including the preparation and execution of growth strategies. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Executive Director David Kinnersley was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 05
Full year 2022 earnings released: EPS: AU$0.018 (vs AU$0.031 in FY 2021) Full year 2022 results: EPS: AU$0.018. Revenue: AU$73.0m (up 225% from FY 2021). Net income: AU$2.05m (up 25% from FY 2021). Profit margin: 2.8% (down from 7.3% in FY 2021). The decrease in margin was driven by higher expenses. Announcement • Sep 02
Dynamic Group Holdings Limited, Annual General Meeting, Oct 27, 2022 Dynamic Group Holdings Limited, Annual General Meeting, Oct 27, 2022. Announcement • Jul 19
Dynamic Group Holdings Limited (ASX:DDB) acquired Welldrill from Peter Chegwidden Dynamic Group Holdings Limited (ASX:DDB) has entered into an agreement to acquire Welldrill from Peter Chegwidden for AUD 19 million on July 11, 2022. Consideration will be paid as 1) AUD 14 million cash upon completion 2) AUD 1 million in fully paid ordinary Dynamic shares calculated based on the volume weighted average price of Dynamic shares over the 5 trading days prior to the date of completion escrowed until 31 March 2023 and 3) AUD 4 million deferred cash payable at 31 March 2023. Dynamic has established a new AUD 18 million acquisition finance facility with Commonwealth Bank of Australia. In parallel, Dynamic has upsized its asset finance facilities to provide additional liquidity to finance the purchase of the Rig-6 Fleet. Welldrill General Manager, Tim Westcott and Chief Financial Officer, Roseann Natana, to join Dynamic’s executive management team. The closing of the acquisition is subject to certain conditions precedent, the material of which are set out below, being satisfied or waived by the Dynamic Group, Customer and lessor consents to a change of control and No material adverse change having taken place prior to completion. Completion of the acquisition is expected to occur this month.
Dynamic Group Holdings Limited (ASX:DDB) completed the acquisition of Welldrill from Peter Chegwidden for AUD 19 million on July 18, 2022. Announcement • Jul 12
Dynamic Group Holdings Limited Announces Executive Management Team Dynamic Group Holdings Limited ('Dynamic' or the "Company') announced that it has entered into an agreement to acquire 100% of Welldrill from Peter Chegwidden. Welldrill General Manager, Tim Westcott, has been with Welldrill for 4 years and has helped drive the recent growth of the business as the owner, Peter Chegwidden, stepped back from day-to-day operations. Welldrill General Manager, Tim Westcott and CFO, Roseann Natana, to join Dynamic's executive management team. Announcement • Jul 11
Dynamic Group Holdings Limited (ASX:DDB) has entered into an agreement to acquire Welldrill from Peter Chegwidden. Dynamic Group Holdings Limited (ASX:DDB) has entered into an agreement to acquire Welldrill from Peter Chegwidden for AUD 19 million on July 11, 2022. Consideration will be paid as 1) AUD 14 million cash upon completion 2) AUD 1 million in fully paid ordinary Dynamic shares calculated based on the volume weighted average price of Dynamic shares over the 5 trading days prior to the date of completion escrowed until 31 March 2023 and 3) AUD 4 million deferred cash payable at 31 March 2023. Dynamic has established a new AUD 18 million acquisition finance facility with Commonwealth Bank of Australia. In parallel, Dynamic has upsized its asset finance facilities to provide additional liquidity to finance the purchase of the Rig-6 Fleet. Welldrill General Manager, Tim Westcott and Chief Financial Officer, Roseann Natana, to join Dynamic’s executive management team. The closing of the acquisition is subject to certain conditions precedent, the material of which are set out below, being satisfied or waived by the Dynamic Group, Customer and lessor consents to a change of control and No material adverse change having taken place prior to completion. Completion of the acquisition is expected to occur this month. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Executive Director David Kinnersley was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
Full year 2021 earnings released: EPS AU$0.031 (vs AU$0.017 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$23.3m (up 53% from FY 2020). Net income: AU$1.64m (up 277% from FY 2020). Profit margin: 7.0% (up from 2.9% in FY 2020). Recent Insider Transactions • Jul 13
Insider recently bought AU$1.8m worth of stock On the 7th of July, Robert Martin bought around 4m shares on-market at roughly AU$0.45 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$2.7m more in shares than they have sold in the last 12 months. Announcement • May 31
Dynamic Drill and Blast Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 6.204557 million. Dynamic Drill and Blast Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 6.204557 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,787,905
Price\Range: AUD 0.45
Discount Per Security: AUD 0.027
Transaction Features: Subsequent Direct Listing Is New 90 Day High Low • Feb 04
New 90-day low: AU$0.48 The company is down 1.0% from its price of AU$0.48 on 06 November 2020. The Australian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 16% over the same period. Announcement • Dec 26
Dynamic Drill and Blast Holdings Limited Signs Drilling Contract with Carey Mining Pty Ltd, for the Provision of Drilling Services at the Anglogold Ashanti Golden Delicious Gold Mine Dynamic Drill and Blast Holdings Limited confirmed that the final form Drilling Contact with Carey Mining Pty Ltd. (Carey) for the provision of drilling services at the AngloGold Ashanti Golden Delicious Gold Mine has been executed. The company continues discussions with various parties regarding further projects which are currently within the tender pipeline. Announcement • Nov 20
Pilbara Resources Group Pty Ltd Selects Dynamic Drill and Blast Holdings Limited as Preferred Supplier to Carey Mining Pty Ltd Dynamic Drill and Blast Holdings Ltd. (DDB or the Company) announced that it has entered into a Services Contract with Pilbara Resources Group Pty Ltd. (PRG) and has been selected as preferred supplier to Carey Mining Pty Ltd. (Carey), across two separate resource projects (gold and iron ore) in Western Australia: A Services Contract with PRG for the provision of drilling and blasting services at GWR Group Ltd.'s Project has been executed. DDB will provide services from November 2020, for stage 1 of C4 which includes approximately 1 million tonnes of the 21.6Million tonne resource. DDB have been selected as preferred supplier by Carey, for the provision of drilling services at the AngloGold Ashanti Golden Delicious Gold Mine. It is estimated that DDB will provide services from late December 2020 for a period of approximately 24 months. DDB and Carey are working towards execution of the final form drilling contract. The combined revenue from both Services Contracts once executed is estimated to be between $9m and $11m and will be based on a fixed and variable pricing structure. DDB will utilise up to four drill rigs, as well as approximately twenty personnel and ancillary equipment to deliver the required services for the two projects. As well as the new projects, DDB has deployed equipment and personnel to additional short-term
projects. Is New 90 Day High Low • Nov 19
New 90-day high: AU$0.68 The company is up 73% from its price of AU$0.39 on 21 August 2020. The Australian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 8.0% over the same period. Announcement • Nov 10
Dynamic Drill and Blast Holdings Limited, Annual General Meeting, Dec 09, 2020 Dynamic Drill and Blast Holdings Limited, Annual General Meeting, Dec 09, 2020, at 11:00 W. Australia Standard Time. Location: Suite 1, 295 Rokeby Road, Subiaco Subaico Western Australia Australia Agenda: To consider the Annual Report of the Company and its controlled entities for the financial year ended 30 June 2020, which includes the Financial Report, the Directors' Report and the Auditor's Report; to consider remuneration report be adopted by shareholders on the terms and conditions in the explanatory memorandum; to consider reelection of directors; to consider approval of 10% placement facility; and to consider other matters.