Stocks of the Hour: Newmark Property REIT, Harvest Technology Group, NickelSearch

Company News

by Abbey Phillipps

Newmark Property REIT (ASX:NPR) has entered into a merger agreement in relation to a proposed all-scrip merger with BWP Trust. Under the proposed merger, BWP will offer to acquire 100% of NPR’s securities via an off market takeover offer for consideration comprising 0.40 BWP units per NPR security. The consideration under the Proposal represents an implied value of $1.39 per NPR security and a 43.1% premium to NPR’s last close price of $0.97 on 23 January 2024. Shares are trading 38.66 per cent higher at $1.345.

Harvest Technology Group (ASX:HTG) confirmed that further to its December operations update, it has received both second and third orders for its Nodestream™ technology from its significant Five-Eyes defence customer, in the total amount of approximately $380k AUD with cash received upfront. In response, Harvest’s Chief Operating Officer, Linda Shields, said, “The opportunity to work collaboratively and globally within the Five-Eyes defence network is very exciting for us and demonstrates a demand for the capabilities we offer.” Shares are trading 23.08 pr cent higher at 1.6 cents.

NickelSearch (ASX:NIS) announced Infill soil sampling results over high priority areas of interest confirm significant lithium caesium-tantalum (LCT) anomalies at its 100% owned Carlingup Project near Ravensthorpe in Western Australia. In response, NickelSearch Managing Director, Nicole Duncan, commented, “Based on these results, it is plausible to suggest that the LCT indicators observed over this area represent one large system.” Shares are trading flat at 4.1 cents.

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