Investors cheered by Pacific Edge news
In a statement to the NZX, Pacific Edge said it had been notified its Triage Plus product could receive a price of US$1018
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NZ Herald
2 days ago
- NZ Herald
NZX50 lifts 0.5%, Metroglass cracks and Eroad climbs
'New Zealand dairy is still in demand, which is good and bad for them. It's an input cost for the consumer business, but generally good for farmers and their cooperative members.' Infratil continued its solid run since mid-June, gaining 1.77% to $7.67. The infrastructure investor traded at under $10 as recently as April. Takeovers, small caps Metro Performance Glass shares fell 20% to 4 cents after the glass supplier unveiled its plan to shore up its finances and secure new banking facilities. The company has agreed a deal with Amari Metals for the latter to take a 51% stake in the company following its proposed recapitalisation. The equity raise combines an $8.9m pro-rata rights offer with an additional placement to Amari Metals of up to $15m. Both tranches are priced at 3 cents per share (cps). Metroglass said an independent report by Grant Samuel concluded there were 'no viable alternatives'. Also on the takeover front, Vital's board urged investors to accept Tait Communication's takeover offer, warning the deal could collapse if the 90% minimum acceptance condition is not met before the mid-September deadline. In June, Tait Communications, a Christchurch-based critical communications systems provider, made a formal offer to purchase NZX-listed Vital for 45cps. On Friday, the board reiterated its unanimous recommendation, urging shareholders to accept 'without delay'. Vital shares fell 3.3% to 44c, having traded above the offer price towards the end of last week. Eroad continued its run from last week, rising 7.18% to $2.09 on Monday. The share price for telematics and fleet management rose to a three-year high after the Government announced it would transition the light vehicle fleet to road user charges. Earnings season Robertshawe noted that due to continuous disclosure requirements, companies had already confessed their sins in June and July. Subsequently, he said markets were unlikely to be too surprised by earnings reports. 'People will be looking for the quality of results. Are there abnormals? Are there provision releases? Are there one-off sale processes? That will be the key. 'And then obviously the reporting on trading since the balance date, and what does trading look like for the first half of the 2026 financial year? Vista Group, which reports its half-year results on Thursday, would be the most interesting stock to watch this week, he said. 'They hinted at a slight slowdown in uptake and migration to their new product, but it feels almost like they don't have the resources to go faster, as they've tried to hit free cash flow break-even. 'There could be an interesting announcement where they say they're going to push the company back into short-term cash flow deficits because they want to accelerate the growth to the new revenue model.' Vista traded flat at $3.50 on volumes worth nearly $1.5m.
NZ Herald
6 days ago
- NZ Herald
NZX steady as Eroad rallies on road user charge changes
'Of course, we have an earnings season starting next week, so you tend to see volumes a little lighter as people await the company announcements and guidance especially,' Sullivan said. 'US markets were positive, even though India has been hit with a higher tariff level than initially quoted. Our interest rates are buoying the market more than geopolitical instability and tariffs.' On the NZX, Eroad rallied by 26.42% today after the Government unveiled a raft of changes to the country's Road User Charges system in preparation for 3.5 million vehicles becoming liable for the charges. As has previously been signalled, the current Fuel Excise Duty is expected to be abolished in the coming years, with all vehicles moving to Road User Charges (RUCs). Eroad's share price lifted 42c to $2.01 after 3.1 million shares changed hands on turnover of $5.9m. 'Obviously they're seen as a potential frontrunner for being able to offer a solution in that area. Material uplift in volume and share price and their market cap would put them up as a NZX 50 constituent as well, so the potential to eventually be included in NZX indices.' Elsewhere, Radius Healthcare shares rose 3.90% to $0.40 on high volume of 10.4 million shares after it announced an upgrade to its projected underlying earnings before interest and tax. Sullivan said Radius doesn't seem to be able to put a foot wrong at the moment, noting its share price rose 22% in July, 22% in June and 25% in April. Chorus also had another positive day, with its share price lifting 1.21% or 11c to $9.20. Contact Energy, meanwhile, fell 0.76% to $9.10 after $11.1m in turnover was traded. US markets Wall Street stocks rose on Wednesday local time, with Apple and most other large tech companies rallying as markets largely shrugged off US President Donald Trump's latest tariff hikes. Apple piled on more than 5% after White House officials said the tech giant plans an additional US$100 billion ($168b) in capital spending in the United States. Amazon and Google parent Alphabet were among the other large tech names that also rose. 'By standing up and publicly announcing a domestic investment with President Trump, it reduces the likelihood of Trump imposing new tariff burdens on Apple,' said FHN Financial's Chris Low. The Dow Jones Industrial Average finished up 0.2% at 44,193.12. The broad-based S&P 500 gained 0.7% to 6,345.06, while the tech-rich Nasdaq Composite Index climbed 1.2% to 21,169.42, less than 10 points from an all-time record. Trump ordered an additional 25% tariff on Indian goods. The levy, which is expected to come into force in three weeks, is due to New Delhi's continued purchase of Russian oil. – Additional reporting AFP Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
Scoop
6 days ago
- Scoop
Heartland Bank Announces Two Senior Leadership Appointments
Press Release – Heartland Bank Heartland Bank Limited is pleased to announce two strategic appointments to its senior leadership team, reflecting the companys commitment to sustainable growth and digital transformation. Alistair Scott (Photo/Supplied) Rebecca Thomas (Photo/Supplied) … Heartland Bank Limited is pleased to announce two strategic appointments to its senior leadership team, reflecting the company's commitment to sustainable growth and digital transformation. Alistair Scott joins Heartland Bank in the role of Chief Auto & Asset Finance Officer. With over 30 years' experience in the automotive industry, Alistair most recently served as Managing Director for Jaguar Land Rover's Asia Pacific region, overseeing operations across 16 markets. His extensive expertise spans senior roles in sales, franchise management and business development across diverse markets including Asia, Latin America, Australia, and the UK. Rebecca Thomas will be taking on the role of Chief Digital Transformation Officer. Bringing more than 25 years of experience in technology, data and enterprise transformation, Rebecca's career spans multiple industries including insurance, engineering, government and professional services. Recognised as one of the country's top Chief Information Officers from her time at PwC New Zealand, she brings deep expertise in technology operations alongside a strong focus on AI and data-driven initiatives. 'I'm delighted to welcome Alistair and Rebecca, who will be instrumental in driving our vision to innovate, grow and continue meeting the specialist banking needs of New Zealanders,' said Leanne Lazarus, Heartland Bank CEO. Alistair and Rebecca will join Heartland Bank on 8 September and 15 September 2025, respectively. Their appointments are subject to Reserve Bank of New Zealand non-objection. About Heartland Bank Heartland Bank Limited (Heartland Bank) is a 100% New Zealand operated and managed bank with a long history stretching back to Ashburton in 1875. It provides customers with specialist banking products, including Reverse Mortgages, Livestock Finance, Motor Finance, Asset Finance and Savings and Deposit products. Heartland Bank has been awarded Canstar's Bank of the Year Savings for eight consecutive years (2018-2025) and is New Zealand's leading provider of reverse mortgages. Its Reverse Mortgages have received Consumer Trusted accreditation from Consumer NZ for eight years in a row from 2017 – 2024. Heartland Bank's point of differentiation is its 'best or only' strategy – where it focuses on providing banking products which are the best or only of their kind through scalable digital platforms. Heartland Bank's parent company, Heartland Group Holdings Limited (Heartland Group), is a financial services group with operations in Australia and New Zealand. Heartland is listed on the New Zealand and Australian stock exchanges (NZX/ASX: HGH).
