Announcement • Apr 23
An undisclosed buyer executed a Share Transfer Agreement to acquire remaining 62% stake in Asf Technologies (Australia) Pty. Ltd. from ASF Group Limited (ASX:AFA) for AUD 0.47 million. An undisclosed buyer executed a Share Transfer Agreement to acquire remaining 62% stake in Asf Technologies (Australia) Pty. Ltd. from ASF Group Limited (ASX:AFA) for AUD 0.47 million on April 23, 2026. A cash consideration of AUD 0.47 million will be paid by the buyer. As part of consideration, AUD 0.47 million is paid towards common equity of Asf Technologies (Australia) Pty. Ltd. Upon completion of the transaction, Asf Technologies (Australia) Pty. Ltd. will be 100% owned by the buyer. Board Change • Oct 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Oct 02
ASF Group Limited, Annual General Meeting, Nov 27, 2025 ASF Group Limited, Annual General Meeting, Nov 27, 2025. Board Change • Sep 08
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Aug 08
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jul 08
Vigorous Resources Pty Ltd made a cash Offer to acquire Rey Resources Limited (ASX:REY) from group of shareholders for AUD 4.9 million. Vigorous Resources Pty Ltd made a cash Offer to acquire Rey Resources Limited (ASX:REY) from group of shareholders for AUD 4.9 million on July 8, 2025. A cash consideration of AUD 0.028 per ordinary share will be paid by Vigorous Resources Pty Ltd. If Vigorous Resources meets the 90% has indicated proceed with compulsory acquisition of the outstanding REY Shares in accordance with the provisions of Chapter 6A of the Corporations Act. If such compulsory acquisition occurs, REY Shareholders who have their REY Shares compulsorily acquired will not receive their Offer Consideration until after the compulsory acquisition notices are dispatched to them. Each Director who holds or controls REY Shares intends to accept the Offer. The REY Board unanimously recommend that the REY Shareholders accept the Offer, in the absence of a superior offer. The Directors of the Company who own REY Shares have indicated their intention to accept the Offer and sell all of their REY Shares to the Bidder on the terms of the Offer. Vigorous Resources has obtained all necessary regulatory approvals required in connection with the Offer. As such, this Offer is not subject to any regulatory conditions. The Offer is expected to open on Wednesday, 9 July 2025 and ends on August 11, 2025.
SW Accountants & Advisors acted as tax advisor to REY. Board Change • Jun 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 13
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Dec 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$3.96m (US$2.55m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.3m free cash flow). Shares are highly illiquid. Negative equity (-AU$27m). Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m (AU$703k revenue, or US$453k). Market cap is less than US$10m (AU$3.96m market cap, or US$2.55m). Board Change • Dec 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Nov 12
ASF Group Limited Announces Retirement of Louis Chien as Director, Effective 27 November, 2024 ASF Group Limited referred to the proposal for re-election of Mr. Louis Chien as director of the Company at the forthcoming annual general meeting to be held on 27 November, 2024. The Company announced that Mr. Louis Chien has advised that he will not seek for re-election at the AGM and will retire as director of the Company upon conclusion of the AGM. Board Change • Oct 22
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 04
Full year 2024 earnings released: AU$0.012 loss per share (vs AU$0.015 loss in FY 2023) Full year 2024 results: AU$0.012 loss per share (improved from AU$0.015 loss in FY 2023). Revenue: AU$703.0k (up AU$599.0k from FY 2023). Net loss: AU$9.29m (loss narrowed 20% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Oct 02
ASF Group Limited, Annual General Meeting, Nov 27, 2024 ASF Group Limited, Annual General Meeting, Nov 27, 2024. Reported Earnings • Aug 30
Full year 2024 earnings released: AU$0.012 loss per share (vs AU$0.015 loss in FY 2023) Full year 2024 results: AU$0.012 loss per share (improved from AU$0.015 loss in FY 2023). Revenue: AU$1.31m (up AU$1.20m from FY 2023). Net loss: AU$9.29m (loss narrowed 20% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Board Change • Aug 26
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 08
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 03
ASF Group Limited (ASX:AFA) agreed to acquire Activex Canning Pty Ltd from ActivEX Limited (ASX:AIV) for AUD 0.07 million. ASF Group Limited (ASX:AFA) agreed to acquire Activex Canning Pty Ltd from ActivEX Limited (ASX:AIV) for AUD 0.07 million on April 3, 2024. The consideration consists of AUD 0.075 million in cash. As part of the consideration, AUD 0.075 million was paid towards common equity. The proceeds from the sale will be used as working capital for ActivEX Limited. Board Change • Dec 29
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Oct 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 05
Full year 2023 earnings released: AU$0.015 loss per share (vs AU$0.005 loss in FY 2022) Full year 2023 results: AU$0.015 loss per share (further deteriorated from AU$0.005 loss in FY 2022). Net loss: AU$11.5m (loss widened 184% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 17% 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. Announcement • Oct 05
ASF Group Limited, Annual General Meeting, Nov 28, 2023 ASF Group Limited, Annual General Meeting, Nov 28, 2023. Agenda: To consider the re-election of directors. Reported Earnings • Sep 01
Full year 2023 earnings released: AU$0.015 loss per share (vs AU$0.005 loss in FY 2022) Full year 2023 results: AU$0.015 loss per share (further deteriorated from AU$0.005 loss in FY 2022). Net loss: AU$11.5m (loss widened 184% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-AU$13m). Revenue is less than US$1m (AU$349k revenue, or US$226k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$60.2m market cap, or US$39.0m). Board Change • Aug 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jul 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 31
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 03
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 10
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Oct 04
ASF Group Limited, Annual General Meeting, Nov 29, 2022 ASF Group Limited, Annual General Meeting, Nov 29, 2022. Agenda: To consider the re-election of directors. Reported Earnings • Oct 02
Full year 2022 earnings released: AU$0.005 loss per share (vs AU$0.004 loss in FY 2021) Full year 2022 results: AU$0.005 loss per share (further deteriorated from AU$0.004 loss in FY 2021). Revenue: AU$1.23m (up 7.6% from FY 2021). Net loss: AU$4.06m (loss widened 26% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Board Change • Sep 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jul 22
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jun 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 28
Less than half of directors are independent 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. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 24
Less than half of directors are independent 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. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 30
Less than half of directors are independent 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. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Oct 11
Less than half of directors are independent 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. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Sep 15
Less than half of directors are independent 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. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Wai Sang Ho was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 01
Full year 2021 earnings released: AU$0.004 loss per share (vs AU$0.007 loss in FY 2020) Full year 2021 results: Net loss: AU$3.23m (loss narrowed 46% from FY 2020). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 25
First half 2021 earnings released: AU$0.002 loss per share (vs AU$0.002 loss in 1H 2020) The company reported a poor first half result with weaker revenues, weaker control over costs and no improvement to losses. First half 2021 results: Revenue: AU$713.0k (down 80% from 1H 2020). Net loss: AU$1.87m (flat on 1H 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • Oct 02
ASF Group Limited Auditor Raises 'Going Concern' Doubt ASF Group Limited filed its Annual on Sep 29, 2020 for the period ending Jun 30, 2020. In this report its auditor, Grant Thornton, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Reported Earnings • Oct 01
Full year earnings released - AU$0.0075 loss per share Over the last 12 months the company has reported total losses of AU$5.95m, with losses widening by 103% from the prior year. Total revenue was AU$3.87m over the last 12 months, down 39% from the prior year. Announcement • Sep 08
Magic Goal Investments Limited completed the acquisition of additional 10% stake in ASF Technologies Limited from ASF Group Limited (ASX:AFA). Magic Goal Investments Limited entered a share transfer agreement to acquire additional 10% stake in ASF Technologies Limited from ASF Group Limited (ASX:AFA) for AUD 1 million on December 23, 2019. The cash consideration of AUD 1 million will be paid within ten business days pursuant to the agreement. Post acquisition, ASF Group Limited will own 0% ownership in ASF Technologies Limited.
Magic Goal Investments Limited completed the acquisition of additional 10% stake in ASF Technologies Limited from ASF Group Limited (ASX:AFA) in December 2019.