The HUB24 Ltd (ASX: HUB) share price was again on the move today following an update on the terms for its planned takeover of Class Ltd (ASX: CL1).

At market close, the HUB24 share price finished at $27.12, 7.25% lower than its previous close.

Let’s take a look at the new changes made to the part cash, part scrip takeover offer.

HUB24 share price slips on takeover correction

Another change has been made to HUB’s recently updated takeover offer posed to Class.

It follows on from Tuesday’s news which saw the HUB24 share price tumble before correcting itself to gain 1.7%.

While the potential acquirer only recorded a slight gain, the Class share price surged 5.36%.

Yesterday, the companies announced HUB24 had upped the cash portion of its offer to 12.5 cents for each Class share. Originally, it proposed to pay just 10 cents per share.

Additionally, the scrip portion of the offer – which would see Class shareholders receiving 1 HUB24 share for every 11 Class shares they own – was amended to allow Class shareholders access to any dividends and franking credits paid by HUB24 for the first half of financial year 2022.

That is, if the scheme is implemented before HUB24’s ex-dividend date.

Today, Class has corrected a mistake it made on yesterday’s release to the market. Here’s what the company said:

[Yesterday’s] announcement stated that HUB24 shares issued as scrip consideration would now include the ‘right’ or ‘entitlement’ to the interim dividend paid by HUB24 in respect of [the first half of financial year 2022] …

It should instead state the HUB24 shares issued as scrip consideration include an ‘unconditional right’ or ‘unconditional entitlement’ to the interim dividend paid by HUB24.

The inclusion of the word “unconditional” seems to have spooked the market on Wednesday.

Interestingly, the Class share price suffered just as much as HUB24’s.

It closed the day 5.09% down at $2.61.

The post Here’s why the HUB24 (ASX:HUB) share price slid 7% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Hub24 Ltd. The Motley Fool Australia owns and has recommended Class Limited. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The AnteoTech Ltd (ASX: ADO) share price is in the red during late afternoon trading. This comes after the company provided an update on its COVID-19 rapid antigen test.

At the time of writing, the biotechnology company’s shares were trading for 17 cents apiece, down 2.86% on yesterday’s close

Let’s take a look at what may be impacting the company’s shares today.

What did AnteoTech announce?

AnteoTech informed the market it had heard from the Therapeutic Goods Administration (TGA) on its SARS CoV (COVID-19) rapid antigen test and Eugeni reader platform.

The TGA has asked AnteoTech to review how its diagnostic test will cover COVID-19 variants.

The regulatory body has also requested that AnteoTech update the TGA on how it plans to monitor for new strains of the virus.

The company says it will also need to provide an update on other technical and performance details.

The AnteoTech share price received a shot in the arm in September when the company announced it had submitted its rapid antigen COVID test to the TGA.

Then, the company said its nasal swab test was able to detect COVID-19 in 1 minute in 97.3% of cases. AnteoTech is also working on a saliva-based sampling method.

Today, the company said it was working to provide the TGA with additional information as quickly as possible.

Anteotech share price snap shot

Despite a 15% fall this month, the AnteoTech share price has skyrocketed by 67% this year to date. It’s also gained about 94% over the last 12 months.

In contrast, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned 11% in the past year.

The post AnteoTech (ASX:ADO) share price falls on TGA update appeared first on The Motley Fool Australia.

More reading

• Here’s why the AnteoTech (ASX:ADO) share price has withstood today’s sell-off

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Hydration Pharmaceuticals Company Limited (ASX: HPC) share price has had a great start to its time on the ASX.

The company debuted on the market yesterday after an initial public offering (IPO) that saw its shares going for 29 cents apiece.

At the time of writing, the Hydration Pharmaceuticals Company share price is 38 cents, 7.04% higher than when it experienced its first closing bell.

That means shareholders who got in on the company’s prospectus offer have seen their investment grow by 31% already.

Let’s take a closer look at the ASX newbie and how it’s been performing so far.

What does the company do?

The Hydration Pharmaceuticals Company – more colloquially known as Hydralyte North America – is responsible for a popular household brand that many readers will know well.

That is, Hydralyte – which offers electrolyte-rich powders, drinks, and tablets. Though, the company doesn’t sell Hydralyte products in Australia or New Zealand.

Instead, it has rights to market the products in America, Europe (but not Turkey), China (but not Taiwan), and Hong Kong.  

Hydration Pharmaceuticals Company share price soars following IPO

The Hydration Pharmaceuticals Company hit the ASX at noon on Tuesday, when its share price soared to 35.5 cents on the day.

The company raised $17 million during its IPO by selling approximately 58.6 million shares.  

Most of the funds raised through its IPO will fund its sales and marketing. Though, some will be spent on brand and product development.

Over the 12 months ended 30 September 2020, the company brought in around US$3 million of pro forma revenue. It also saw a pro forma after-tax loss of around US$5.9 million.

For the 12 months ended 30 September 2021, Hydration predicts it will see approximately US$5.4 million of pro forma revenue and a pro forma after-tax loss of around US$6.7 million.

The directors have no intention of paying a dividend soon, though, due to the company being in the development stage.

The company’s IPO offer price would have seen it with a market capitalisation of around $46.7 million.

At its current share price, The Hydration Pharmaceuticals Company has a valuation of approximately $61.2 million.

The post Hydration Pharmaceuticals (ASX:HPC) share price rockets 31% in 2 days following IPO appeared first on The Motley Fool Australia.

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• Here’s why the Antisense (ASX:ANP) share price is climbing 5% today
• Here are the 3 most heavily traded ASX 200 shares this Wednesday
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The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in newly-named Insignia Financial Ltd (ASX: IFL) – formerly IOOF Holdings – are edging higher today amid reports the Australian Securities and Investment Commission (ASIC) has commenced civil penalty proceedings against the firm.

ASIC is suing OnePath, the superannuation trustee under Insignia’s banner, for allegedly charging inappropriate fees for no service whilst concurrently supplying false and misleading statements to members.

We’ve been down this path before, the path of fees for no service, as apart of the Royal Commission into Banking and Financial Services in 2018. The outcomes weren’t pretty for those involved in the reprehensible conduct.

Today Insignia acknowledged it recognised the action ASIC is taking against the company in a statement released before the open.

What’s the deal here?

ASIC alleges that OnePath incorrectly charged its members over $4 million in fees without providing a service, moves that impacted over 18,000 individual accounts.

The company is not allowed to do this, and doing so is considered reprehensible conduct by the regulator – not less by its members, as well.

Deputy chair of ASIC, Sarah Court stated that “superannuation is important for the future financial security of Australians. Consumers must be able to trust they are being charged fees correctly by their superannuation providers. ASIC’s case alleges that OnePath failed to do so in this case”.

Specifically, ASIC’s case submits OnePath charged fees for financial advice to customers who had been disconnected from superannuation plans sponsored by their employers.

Apparently, as ASIC says, OnePath sent correspondence to its members until May last year, however, the letters failed to inform customers of their rights to terminate the fees, or any rights regarding the fees at all for that matter.

The regulator has it that OnePath made false statements regarding its right to continue charging these particular fees, thereby breaching its fiduciary duties as a financial services license holder.

In a statement today, Insignia noted that it and OnePath are carefully considering ASIC’s action. It also noted that “separate to any question of liability”, both OnePath and former owner ANZ are “remediating impacted members, with [OnePath’s] remediation expected to be completed by the end of this month”.

It remains committed to ensuring the identified plan service fee issues are appropriately resolved. The date for the first court hearing hasn’t yet been scheduled.

At the time of writing, Insignia shares are swapping hands at $3.64 apiece, a small gain of around 1% on the day.

Insignia Financial share price snapshot

It’s been a horrendous year for the Insignia share price, having slipped more than 1% into the red during the last 12 months.

This year to date, it has climbed a paltry 3%, and has fallen back into the red by 7% over the past month.

Each of these returns have lagged the benchmark S&P/ASX 200 index (ASX: XJO)’s return of around 10% in the last year.

The post Fees for no service? ASIC lawsuit against Insignia (ASX:IFL) for potential misconduct appeared first on The Motley Fool Australia.

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The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Antisense Therapeutics Limited (ASX: ANP) share price is moving higher today. This upwards movement comes amid the company’s annual general meeting (AGM). Usually, these events are not considered to be price-sensitive. However, the biotech’s AGM was tagged as a price-sensitive market announcement today.

In afternoon trade, shares in the biotechnology company are up 5.56% to 19 cents. Despite the gain, shareholders are still nearly 46% away from the 52-week high set in October.

Let’s take a closer look at what could be driving the Antisense share price higher today.

What has Antisense been up to?

Investors are bidding up the Antisense share price today as they are reminded of what the company has been doing in recent times.

As per the AGM presentation, the company’s key focus remains developing ATL1102. Antisense informed shareholders of its United States regulatory plans today. As already known, the company has submitted its protocol synopsis to the US Food and Drug Administration (FDA) for a 9-month chronic monkey toxicology study.

Furthermore, the company highlighted it could be in a position to receive a rare pediatric disease priority review voucher (PRV). In order to land the PRV, Antisense will need to get FDA approval for ATL1102 in use for people with Duchenne Muscular Dystrophy before 30 September 2026.

Notably, in the past (2017 to 2021) PRVs have sold for between US$80 million to US$150 million. Such a deal would be significant for the company considering its annual revenue has been sub-$1 million since 2017.

In addition, the Antisense share price might be finding strength today as the company emphasises its ambition to expand the clinical application of ATL1102 beyond DMD.

Lastly, Antisense shareholders may be pleased with the company’s current financial position. Thanks to a recent $20 million placement, Antisense is funded into the second half of the 2023 calendar year. This includes costs associated with setting up the Phase IIb/III DMD trial in Europe.

Antisense share price recap

Despite losses widening to about $8 million in the past financial year, the Antisense share price has performed strongly in 2021.

Since January, the company’s shares have gained 35.7% in value. For context, the S&P/ASX 200 Index (ASX: XJO) is up 9.7% over the same time span.

The post Here’s why the Antisense (ASX:ANP) share price is climbing 5% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The post Here are the 3 most heavily traded ASX 200 shares this Wednesday appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen owns Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is down 0.4% in afternoon trade, having recovered some of its earlier, steeper losses.

The ASX 200 is following US and European share markets lower as investors fret over 2 of the biggest concerns that could impact their portfolios in 2022.

Namely the newly emerged Omicron COVID variant, and hot running inflation that looks increasingly likely to be less transient than central bankers were forecasting just a few months ago.

Keeping in line with our headline, we’ll leave COVID-19 aside and maintain the focus on the inflation issue. The issue for investors is that higher inflation could lead to higher interest rates sooner than expected, and impact the relative outlook for almost every ASX 200 share.

In the US, the inflation rate – as measured by core personal consumption expenditures – is up 4.1% year-on-year. That’s running hotter than any time in the past 30 some years.

It’s running higher Down Under as well. As the Australian Financial Review (AFR) notes, futures markets are now pricing in at least 3 interest rate hikes by the Reserve Bank of Australia (RBA) in 2022.

Two inflation resilient ASX 200 shares

Hugh Dive is the chief investment officer at Atlas Funds Management. And he’s keeping a close eye on inflation and the potential for interest rate hikes.

According to Dive (quoted by the AFR), “Rate rises will be a big thing in 2022 and following on from that, we’re definitely seeing inflation through the economy.”

As for the ASX 200 shares that are likely to outperform in a higher inflation and interest rate environment, Dive points to international toll road developer and operator Transurban Group (ASX: TCL), and global packaging giant Amcor PLC (ASX: AMC).

Among the ASX 200 shares which could struggle in this setting, he named Inghams Group Ltd (ASX: ING), the largest integrated poultry producer across Australia and New Zealand.

Dive said:

We’ll be looking at how companies can pass on those price rises. For a company like Transurban it might be easier but for a company like Ingham that’s a much harder conversation. You want things in your portfolio where you can pass those prices on like Transurban and Amcor.

How have Transurban and Amcor been performing?

Both ASX 200 shares have underperformed the benchmark in 2021.

Year-to-date the ASX 200 is up 9.9%. The Amcor share price has gained 8.6% over that same period while the Transurban share price is up 1%.

Amcor also pays a 3.9% trailing dividend yield, unfranked. Transurban pays a 2.7% trailing dividend, also unfranked.

The post Two inflation resilient ASX 200 shares revealed: fund manager appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Amcor Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Challenger Ltd (ASX: CGF) share price has jumped today after the retirement income and investment company announced it has appointed a new CEO.

Nick Hamilton will replace former CEO Richard Howes, who retired in August this year. 

At the time of writing, the Challenger share price sits at $6.70, a rise of 1.50%.

More on the appointment

After operating as chief executive of Challenger’s Fund Management business since 2019, in which he oversaw funds of up to AUD$100 billion, Mr Hamilton will take over the reins on 1 January 2022.

However, the company said today Mr Howes would remain available in the first quarter of next year to oversee the transition. 

Chair Peter Polson said Mr Hamilton’s appointment came after an extensive search process amongst a number of candidates.

Under his leadership, our Funds Management business has gone from strength to strength and is now one of the fastest growing active asset managers in the country…

With a deep understanding of our business, a clear vision for the future and the acumen to maximise the significant opportunities ahead, Nick is ideally placed to lead Challenger through this exciting next chapter.

How has the Challenger share price performed this year? 

Challenger shares have had a mixed year, recovering from a major drop of more than 27% in mid-April following the release of a disappointing third-quarter update. 

The Challenger share price rebounded in early July with the announcement that leading international retirement services company, Athene, and Apollo Global Management, agreed to buy a 15% minority interest in Challenger from an existing approval.

The company has a market capitalisation of almost AUD$4.5 billion and a one-year return of 15.9%.

The post Here’s why the Challenger (ASX:CGF) share price has lifted today appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Challenger Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in regenerative medicine group Avita Medical Inc (ASX: AVH) are in the red today, down 2.78% to $3.50. This means the Avita share price is now down 22.08% over the past month.

Today’s falling share price comes amid an announcement from Avita Medical that it was forced to adjourn its annual general meeting (AGM) this morning.

The company was unable to conduct any business at the AGM because it did not achieve the required quorum.

The announcement was deemed non-price sensitive, however the contents are important for investors. Here are the details.

Why did Avita adjourn its AGM?

The required quorum for the AGM was a simple majority (i.e. 50%) of Avita’s common stock being represented at the meeting, either in person or via proxies.

In its announcement, Avita said the proxies it had received represented approximately 49% of its shares outstanding, including CHESS Depositary Interests (CDIs).

As such, the company adjourned its AGM to Thursday, 23 December at 8am AEDT.

The adjournment gives shareholders additional time to vote on the proposals set forth in Avita’s definitive proxy statement filed with the United States Securities and Exchange Commission (SEC) and the ASX.

During the adjournment period, Avita will continue to solicit votes from its stakeholders.

Avita Medical investors on the company record as of 26 October are entitled to vote. The voting deadline is now 21 December, which is 2 days before the rescheduled AGM is due to take place. Valid proxies and CDI voting instruction forms that were submitted in time for today’s meeting will still be used at the next meeting unless properly revoked.

If Avita fails to reach a quorum for the second time, it will adjourn the AGM again at an additional cost.

What does Avita do?

Avita Medical uses technology to create advanced treatments for patients with burns and chronic wounds.

Avita’s first US product, the RECELL System, was approved by the US Food and Drug Administration (FDA) in 2018. It uses a small amount of a patient’s own skin to create spray-on skin cells. This drastically reduces the need for donor skin and autografts.

Avita Medical share price summary

In the past 12 months, the Avita Medical share price has plunged 23% into the red.

Investors have lost 6% in value over the past 5 trading days.

The post Down 22% in a month: Why is the Avita Medical (ASX:AVH) share price sliding again today? appeared first on The Motley Fool Australia.

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The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The ASX is home to more exchange-traded funds (ETFs) than you can poke a stick at. Far from the handful of index funds that were available just a few years ago, today there is an ASX ETF for almost everything you can conjure up in your mind’s eye. But ASX ETFs that have returned 30% or more to their investors in 2021 so far? They number far fewer. The VanEck MSCI International Quality ETF (ASX: QUAL) is one.

Yes, in 2021 so far, QUAL units have appreciated by a very healthy 31.2%, rising from $33.46 each at the start of the year to the $43.92 they are commanding at the time of writing. If we include the 38 cents per share dividend distribution that was doled out in July, we can add another percentage point or so to that return.

Considering the S&P/ASX 200 Index (ASX: XJO) has ‘only’ given investors a gain of 9.9% or so in 2021 so far, this outperformance is hard to ignore. It even bets out the US S&P 500 Index (SP: .INX), which has returned just over 25% in 2021 to date.

So how has the QUAL ETF pulled off a 31% return in 2021?

QUAL ETF knocks out 30%-plus gains in 2021 so far

Well, let’s see how it invests. QUAL can be classed as an ‘active ETF’. That’s because it doesn’t track an entire index. It instead pulls 300 individual companies out of the broad MSCI World ex Australia Index, based on “three key fundamental factors”. Those are, according to VanEck, high return on equity, stable year-on-year earnings growth, and low financial leverage.

At 72.6%, nearly three-quarters of its current portfolio hails from the United States. However, it still has exposure to Switzerland, Japan, the United Kingdom, Canada and Europe.

QUAL’s current top 10 holdings are as follows:

1. Microsoft Corporation (NASDAQ: MSFT)
2. Apple Inc (NASDAQ: AAPL)
3. NVIDIA Corporation (NASDAQ: NVDA)
4. Meta Platforms Inc (NASDAQ: FB)
5. Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL)
6. Johnson & Johnson (NYSE: JNJ)
7. UnitedHeath Group Inc (NYSE: UNH)
8. Adobe Inc (NASDAQ: ABDE)
9. ASML Holding NV
10. Visa Inc (NYSE: V)

So as you can see, the big US tech names are dominant in the QUAL ETF. Take Microsoft alone, its shares are up more than 50% in 2021 so far. Apple is up almost 35%, while NVIDIA is up more than 116%. No wonder QUAL units have had such a fantastic year of appreciation.

So what does 2022 hold for QUAL? Well, we don’t yet know of course. But if you own or are interested in this ETF, it’s probably a good idea to keep an eye on its top holdings like Apple, Microsoft and NVIDIA next year. Wherever QUAL’s top holdings go, the ETF will likely follow.

The VanEck MSCI International Quality ETF charges an annual management fee of 0.4%.

The post How has the VanEck MSCI International Quality ETF (ASX:QUAL) returned 30% in 2021? appeared first on The Motley Fool Australia.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns Alphabet (A shares), Johnson & Johnson, Meta Platforms, Inc., and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Alphabet (A shares), Meta Platforms, Inc., and Microsoft. The Motley Fool Australia has recommended Adobe Inc., Alphabet (A shares), Alphabet (C shares), Apple, Meta Platforms, Inc., and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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