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Image: Canva.
  • Openn Negotiation had its patent approved by the US Patent and Trademark Office
  • The ACCC has not opposed Sydney Aviation Alliance's acquisition of Sydney Airport
  • Irongate made acquisitions in WA and VIC

The ASX

The ASX200 closed today at 7,384.50 points, 20.90 points lower than yesterday.

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Image: Google.

Today’s news

Openn Negotiation (ASX: OPN) announced that the US Patent and Trademark Office issued a notice of allowance for the company’s patent Application No. 16/311989. The patent relates to the OPN system for conducting real estate sales over the internet.

Duncan Anderson, Director and President of its US subsidiary, Openn North America Inc, said: “The hurdles to obtain patent approval for software are high. This is a significant milestone that rewards Openn’s pioneering work to develop transparent online offer management solutions for the real estate industry.”

Irongate (ASX: INA) today issued another market update, with several more acquisitions. INA announced the acquisition of 16 Aspiration Circuit in Bibra Lake, WA, from Desmar Holdings, for $26 million, and a 50% interest in 510 Church Street in Cremorne, Victoria for $130 million, from Alfasi Group.

INA also announced a fully underwritten institutional placement to raise circa $50 million at an issue price of $1.55 per stapled security to partly fund the Cremorne acquisition.  The company also upgraded its guidance: FY22 FFO per security is expected to be 6% to 7%, and FY22 DPS growth increased to 3%.

Aspen Group (ASX: APZ) announced David Dixon, Joint CEO of APZ, acquired 39,885 stapled securities at the issue price of $1.31 as a result of the short-term incentive payment, as approved by the shareholders in the FY21 Annual General Meeting.

SCA Property Group (ASX: SCP) has appointed Angus James as a non-executive director effective today. Mr James previously was previously the CEO of ABN AMRO Australia New Zealand.

US Masters Residential Property Fund (ASX: URF) director Mike Adams has retired as a Director of E&P Investments Limited, the responsible entity for URF. In a URF press release, the company said he will focus on other activities within the E&P Financial Group (ASX:EP1). No replacement director has been appointed.

Finally, the Australian Competition and Consumer Commission (ACCC) has announced that it will not oppose Sydney Aviation Alliance’s acquisition of Sydney Airport (ASX: SYD).

“Throughout our investigation, we heard that there is very little, if any, competition between Australian airports,” ACCC Chair Rod Sims said.

“This is no surprise, as we’ve been saying for a long time that Australian airports such as Sydney Airport are natural monopolies, with significant market power and no price regulation,” added Mr Sims.

Distributions

Distributions/Dividends announced:

Company Code Amount
Centuria Industrial REIT CIP $0.04325
Goodman Group GMG $0.15
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