Announcement • May 07
Syfe Pte. Ltd. completed the acquisition of remaining 81.2% stake in SelfWealth Limited (ASX:SWF). Syfe Pte. Ltd. proposed to acquire remaining 81.2% stake in SelfWealth Limited (ASX:SWF) for AUD 52.5 million on February 3, 2025. A cash consideration valued at AUD 0.28 per share will be paid by Syfe Pte. Ltd. The transaction is subject to due diligence investigation. On February 3, 2025 and Svava has completed its due diligence. The transaction is subject to Selfwealth shareholders approving the Scheme by the requisite majorities at the Scheme Meeting to be held on Tuesday, 22 April 2025, the Court hearing to approve the Scheme (“Second Court Hearing”) will take place at 2.15pm (Melbourne time) on Monday, 28 April 2025 in the Federal Court of Australia at 305 William Street, Melbourne VIC 3000. As per the announcement dated April 22, 2025 the shareholders of SelfWealth Limited has approved the transaction. As of April 28, 2025, The Federal Court of Australia has approved the proposed scheme of arrangement. The deal is expected to be completed on 29 April 2025.
Syfe Pte. Ltd. completed the acquisition of remaining 81.2% stake in SelfWealth Limited (ASX:SWF) on May 7, 2025. Announcement • Feb 07
Syfe Plans Selfwealth Takeover Singapore-based financial services firm, Syfe Pte. Ltd. is planning to take over Australia-based SelfWealth Limited (ASX:SWF). Syfe is offering SGD 55.07 million to acquire Selfwealth, which is considered to be one of Australia's largest digital investing platforms. A deal would lead to Selfwealth benefiting from Syfe's advanced technology, expertise, and scale. Reported Earnings • Jan 24
First half 2025 earnings released: EPS: AU$0.002 (vs AU$0.007 in 1H 2024) First half 2025 results: EPS: AU$0.002 (down from AU$0.007 in 1H 2024). Revenue: AU$14.1m (up 4.3% from 1H 2024). Net income: AU$407.5k (down 75% from 1H 2024). Profit margin: 2.9% (down from 12% in 1H 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Nov 14
AxiCorp Financial Services Pty Ltd proposed to acquire SelfWealth Limited (ASX:SWF) for AUD 53.4 million. AxiCorp Financial Services Pty Ltd proposed to acquire SelfWealth Limited (ASX:SWF) for AUD 53.4 million on November 14, 2024. A cash consideration of AUD 53.41 million valued at AUD 0.23 per share will be paid by AxiCorp Financial Services Pty Ltd. The transaction is subject to Agreement of, and entry into, a binding implementation deed, No material adverse change to the Selfwealth business and a unanimous recommendation by the Selfwealth Board that shareholders vote in favour of the AxiCorp Financial Services AxProposal, and a commitment that the Board vote the shares they hold or control in favour of the Axi Proposal. Announcement • Nov 13
Bell Financial Group Limited (ASX:BFG) received a Non-binding indicative proposal to acquire SelfWealth Limited (ASX:SWF) for AUD 51 million. Bell Financial Group Limited (ASX:BFG) received a Non-binding indicative proposal to acquire SelfWealth Limited (ASX:SWF) for AUD 51 million on November 13, 2024. A consideration valued at AUD 0.22 per share will be paid by Bell Financial Group Limited. As part of consideration, AUD 51 million is paid towards common equity of SelfWealth Limited. The Bell Proposal allows for Selfwealth shareholders to select their preferred form of
consideration, with the ability to elect to take cash and / or Bell shares.
The transaction is subject to approval of court, merger agreement by target board and approval of offer by target shareholders.
Flagstaff Partners Pty Ltd acted as financial advisor for SelfWealth Limited. Herbert Smith Freehills acted as legal advisor for SelfWealth Limited. Ashurst Australia acted as legal advisor for Bell Financial Group Limited. New Risk • Nov 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 23% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (23% average weekly change). Minor Risk Market cap is less than US$100m (AU$47.3m market cap, or US$30.9m). Announcement • Sep 12
SelfWealth Limited, Annual General Meeting, Nov 14, 2024 SelfWealth Limited, Annual General Meeting, Nov 14, 2024. Announcement • Nov 11
Selfwealth Limited Appoints Adam Lewis as Independent Non-Executive Director, Effective 15 November 2023 SelfWealth Ltd. announced the appointment of Mr. Adam Lewis as an Independent Non-Executive Director. Mr. Lewis was a partner of McKinsey & Company in Melbourne for 14 years and served as Managing Partner, Australia & New Zealand, from 2002 until 2010. Since leaving McKinsey, he has been an active investor and has served as a non-executive director for a number of listed, private and not- for-profit organisations. Mr. Lewis's previous non-executive director roles include chair of Aconex Ltd. (an ASX 200 listed company, which he led from IPO through to its acquisition by Oracle Corporation), director of FIIG Securities Ltd, director of the Melbourne International Film Festival, and director of the Australia Council for the Arts. He is currently the non-executive chair of four privately owned companies and a director of the State Library of Victoria. The appointment will take effect on 15 November 2023, the day after the Company's Annual General Meeting. New Risk • Aug 26
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: 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$37.7m market cap, or US$24.2m). Announcement • Jul 06
SelfWealth Limited Announces Executive Changes SelfWealth Ltd. announced the resignation of its chief executive officer (CEO), Ms. Cath Whitaker, with immediate effect. An executive search is underway for a new CEO, and Mr. Paul Cullinan, the company's interim chief financial officer (CFO), will assume the role of Acting CEO. Reported Earnings • Feb 25
First half 2023 earnings released: EPS: AU$0 (vs AU$0.01 loss in 1H 2022) First half 2023 results: EPS: AU$0 (improved from AU$0.01 loss in 1H 2022). Revenue: AU$14.4m (up 46% from 1H 2022). Net income: AU$100.8k (up AU$2.52m from 1H 2022). Profit margin: 0.7% (up from net loss in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Feb 16
Selfwealth Limited Announces Board Changes SelfWealth Limited announced the resignation of Mr. Huy Truong and Ms Jodie Leonard and the appointment to the Board of Mr. Emanuel Ajay Datt as a Non Executive Director. Mr. Truong and Ms Leonard have been on the board of Selfwealth since September 2022, and both have made a significant contribution to the Company in a very short period of time. Mr. Truong served as a member of both the Audit and Risk and the Nomination, Remuneration & HR Committees and Ms Leonard served as Chair of the Audit and Risk Committee and a member of the Nomination, Remuneration & HR Committee. As part of the Board refresh process, Mr. Edgley has also advised he won't be standing for reelection at the 2023 AGM and an appointment of a new Chair is a key priority of the search process for new independent Directors. Mr. Truong's and Ms Leonard's resignation is effective immediately. Mr. Datt is the Principal of Datt Capital, the largest shareholder of Selfwealth. Datt Capital is an award-winning, Australian focused funds manager with a strong emphasis on emerging companies within the technology and financial sectors. Mr. Datt has 16 years investment management experience and is an experienced entrepreneur operating a number of businesses across industry sectors within a family conglomerate, prior to Datt Capital. Mr. Datt holds a Masters in Applied Finance from Macquarie University, a Bachelor of Commerce from Deakin University, and is a Graduate of the Australian Institute of Company Directors. Announcement • Jan 20
SelfWealth Limited Announces Resignation of John O'shaughnessy as Non- Executive Director SelfWealth Ltd. announced that Mr. John O'Shaughnessy has resigned as a non- executive director of the company, effective from the 19th of January 2023. Mr. O'Shaughnessy has been on the company board since October 2019, when the company listed, and has made a significant contribution to the company's growth throughout his tenure on the board, having served until recently as the Chair the Audit and Risk Committee and most recently, the Chair of the Nomination, Remuneration & HR Committee. Board Change • Nov 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Director John O'Shaughnessy is the most experienced director on the board, commencing their role in 2017. Independent Non-Executive Director Huy Truong was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Oct 21
SelfWealth Limited Announces Resignation of Tam Vu as Non- Executive Director SelfWealth Limited announced that Mr. Tam Vu has resigned as a Non- Executive of the Company, effective 31 October 2022, due to future commitments impacting his availability. Mr. Vu has been on the Selfwealth board since February 2020 and has served as Chair of the Nomination, Remuneration & HR Committee and as a member of the Audit and Risk Committee. Announcement • Sep 26
SelfWealth Limited, Annual General Meeting, Nov 23, 2022 SelfWealth Limited, Annual General Meeting, Nov 23, 2022, at 11:01 AUS Eastern Standard Time. Announcement • Sep 20
SelfWealth Ltd Announces Appointment of Huy Truong as an Independent Non-Executive Director SelfWealth Ltd. (‘Selfwealth’ or ‘the Company’) announced the appointment of Huy Truong as an independent Non-Executive Director. Huy is an experienced entrepreneur with an impressive track record of scaling financial services businesses. Huy is currently the CEO and co-owner of ALI Group, a specialist insurance company protecting Australian home and property buyers. Huy was previously the co-founder and Director of Wishlist Holdings (1999 2011), an e-commerce shopping portal selling gifts, books, music, DVDs, flowers, foods, wine, jewellery, toys and other consumer products. Wishlist was acquired by Qantas in 2011. Huy has extensive experience in venture capital, funds management, and management consulting with previous roles at Boston Consulting Group, CHAMP Ventures and was a co- founder of PE firm Yarra Capital Partners (2008 2014), which provided equity capital plus strategic and operating support to companies with EBITDA between $2m to $10m. Huy is also a passionate advocate for a progressive Australia with a particular interest in immigration and refugees. Huy has been a Member of the Refugee & Migrant Settlement Advisory Council and the Co-Founder and Executive Chair of Thrive Refugee Enterprise, whose mission is to maximise the economic and social contribution of refugees in Australia through the platform of small business. Huy has a Masters of Business Administration (MBA) from the Harvard Business School and an Honours degree in Economics from Monash University. Huy Truong will commence his role as Non-Executive Director of Selfwealth immediately. Announcement • Sep 12
SelfWealth Limited Appoints Jodie Leonard as an Independent Non-Executive Director SelfWealth Ltd. announced the appointment of Jodie Leonard as an independent Non-Executive Director. Jodie is an experienced Non-Executive Director of listed and pre-IPO companies, with a focus on high-growth businesses undertaking digital transformation. She also has a deep understanding of ASX, APRA and regulated entity governance and risk requirements. Jodie has more than 30 years marketing, digital and data experience and her executive career was in Chief Marketing and Corporate Strategy roles, across a diverse range of blue- chip companies including General Electric, British Airways, Telstra, Nine Network, Colgate Palmolive and Unilever. Jodie is currently a Non-Executive Director of X2M Connect, XPON Technologies Group and the Great Ocean Road Coast and Parks Authority. Jodie previously served on the board of the RACV, Flexigroup, BWX, Beyond Bank Australia, Racing Victoria and Kinetic Superannuation. She has also Chaired both Remuneration and Risk Committees, been an active Audit Committee member and has experience on Investment Committees responsible for significant capital allocations. Jodie Leonard will commence her role as Non-Executive Director of Selfwealth immediately. Reported Earnings • Aug 26
Full year 2022 earnings released: AU$0.027 loss per share (vs AU$0.003 loss in FY 2021) Full year 2022 results: AU$0.027 loss per share (down from AU$0.003 loss in FY 2021). Revenue: AU$20.2m (up 10% from FY 2021). Net loss: AU$6.26m (loss widened AU$5.62m from FY 2021). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 9% per year. 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. 4 non-independent directors. CEO, MD & Executive Director Cath Whitaker 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 • Feb 24
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: AU$0.01 loss per share (down from AU$0.002 loss in 1H 2021). Revenue: AU$9.92m (up 18% from 1H 2021). Net loss: AU$2.42m (loss widened 459% from 1H 2021). Revenue missed analyst estimates by 5.1%. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Announcement • Feb 24
SelfWealth Ltd Receives a Letter from Graham Newman Pty Ltd and Andrew Bruce Ward On February 22, 2022, SelfWealth Ltd announced that it has received a letter from its shareholders Graham Newman Pty Ltd and Andrew Bruce Ward, in that letter Graham Newman Pty Ltd and Andrew Bruce Ward mentioned their intention to move resolutions for the removal of two directors of the Company. In addition, the Company also stated that it will comply with its obligation under the Corporations Act shareholders will be provided with updates as required. Board Change • Aug 24
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Tony Lally was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 20
Full year 2021 earnings released: AU$0.006 loss per share (vs AU$0.015 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: AU$18.4m (up 127% from FY 2020). Net loss: AU$646.7k (loss narrowed 77% from FY 2020). Over the last 3 years on average, earnings per share has increased by 58% per year whereas the company’s share price has increased by 59% per year. Announcement • Aug 13
SelfWealth Limited has completed a Follow-on Equity Offering in the amount of AUD 1.735518 million. SelfWealth Limited has completed a Follow-on Equity Offering in the amount of AUD 1.735518 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,958,624
Price\Range: AUD 0.35 Executive Departure • Jul 28
Chief Financial Officer Phillip Hains has left the company On the 22nd of July, Phillip Hains' tenure as Chief Financial Officer ended. We don't have any record of a personal shareholding under Phillip's name. Phillip is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Announcement • Jul 24
SelfWealth Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. SelfWealth Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,641,026
Price\Range: AUD 0.39
Discount Per Security: AUD 0.0234
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Jun 21
Insider recently bought AU$286k worth of stock On the 17th of June, Nicholas Kephala bought around 651k shares on-market at roughly AU$0.44 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$4.1m more in shares than they bought in the last 12 months. Reported Earnings • Feb 20
First half 2021 earnings released: AU$0.002 loss per share (vs AU$0.008 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: AU$8.40m (up 279% from 1H 2020). Net loss: AU$433.0k (loss narrowed 70% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 53% per year whereas the company’s share price has increased by 55% per year. Is New 90 Day High Low • Feb 01
New 90-day high: AU$0.63 The company is up 20% from its price of AU$0.52 on 03 November 2020. The Australian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 4.0% over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: AU$0.50 The company is down 20% from its price of AU$0.63 on 14 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 3.0% over the same period. 