ASX completes sale of stake in Digital Asset Holdings
ASX Ltd (ASX:ASX) announced on 13 June 2025 that it has completed the sale of its shareholding in Digital Asset Holdings, LLC for approximately A$57 million. The transaction will result in a pre-tax gain of around A$42 million compared to the current carrying value, and a A$10 million gain on the original acquisition cost. The gain will be recognised in the FY25 financial results and booked through the asset revaluation reserve in equity. The sale marks a significant move following years of scrutiny over ASX’s partnership with Digital Asset for the now-abandoned blockchain-based CHESS replacement.
Clinuvel CEO returns, but acting CEO remains until September
Clinuvel Pharmaceuticals (ASX:CUV) announced on 13 June 2025 that Dr Philippe Wolgen has returned to the company full time as Managing Director following medical leave. However, Lachlan Hay will continue as Acting CEO until the end of September 2025. Dr Wolgen will focus on key product development and corporate initiatives during this transition period. The update suggests a staggered handover rather than an immediate return to full executive leadership, contributing to ongoing investor uncertainty amid a broader context of share price pressure and strategic repositioning.
Johns Lyng receives takeover proposal from Pacific Equity Partners
Johns Lyng Group (ASX:JLG) confirmed it received a conditional, non-binding indicative takeover proposal from Pacific Equity Partners (PEP) on 16 May 2025 to acquire 100% of the company via a scheme of arrangement. The proposal includes the potential for key management, including CEO Scott Didier, to retain equity through scrip consideration. JLG’s Independent Board Committee has granted PEP a period of exclusivity until 11 July 2025 to conduct due diligence and potentially submit a binding offer. While there is no certainty of a deal, the process is being supported by financial and legal advisors.
Megado completes acquisition of 956km² copper belt in Spain
Megado Minerals (ASX:MEG) announced on 13 June 2025 that it has completed the acquisition of 80% of Iberian Copper Pty Ltd, which owns the 956km² Iberian Copper Project in Aragón and Navarra, Spain. The area spans approximately 200km and includes multiple historic copper and silver mines. Megado is targeting maiden drilling for Q4 2025, with geological mapping and airborne geophysics already underway. The company has also partnered with the University of Aragón for exploration support and confirmed receipt of A$144,000 from its Chairman under a previously approved share placement.
Zip Co upgrades FY25 guidance following strong May performance
Zip Co (ASX:ZIP) released a trading update on 11 June 2025, upgrading its FY25 cash EBTDA guidance to at least A$160 million, up from A$153 million, citing particularly strong performance in the US where total transaction volume (TTV) rose over 40% year-on-year. Credit loss performance remains stable, and the company has so far bought back 12.3 million shares (A$22.6 million) under its A$50 million buyback program. The company emphasised continued momentum and disciplined execution of strategy, positioning this as a sign of turnaround strength within the embattled BNPL sector.
