WorleyParsons Limited

WOR Details
·         Won five-year EPCmagreement from Refining NZ: WorleyParsons Limited (ASX: WOR) stock rallied over 7.4% on May 25, 2017 as the group won a five-year framework agreement for performance of engineering, procurement, shutdown and construction management services (EPCm) from Refining NZ at their Marsden Point Refinery.

·         Recommendation:WOR stock generated outstanding returns of 47% to its shareholders in the last three months (as of May 24, 2017). We believe the momentum would continue in the coming months and maintain our “Hold” recommendation on the stock at the current price of $ 12.53

Ansell Limited

ANN Details
·         Divesting sexual wellness business: Ansell Limited (ASX: ANN) stock surged over 4.3% on May 25, 2017 as the group is divesting their Sexual Wellness (SW) business including condom, lubricant and devices business and manufacturing sites, except their Medical and SW joint venture in India. This business reported a revenue of $190 million in FY16 while EBITDA reached $38 million. The group is still discussing with their Indian partner over the potential of the J K Ansell joint venture. Ansell is continuing ownership of its polyisoprene intellectual property and offering a fully paid-up license to the Buyer Consortium for use in SW. The group expects the net after-tax cash proceeds of over US$529m, and is forecasting to realize a net profit after tax of US$365m, which would be recorded in FY18. The group also announced for an on-market share buy-back program for up to 10% of the company’s issued capital.

·         Recommendation:ANN stock recovered over 15.6% in the last three months (as of May 24, 2017). We give a “Hold” recommendation on the stock at the current price of $ 25.18

Auscann Group Holdings Limited

AC8 Details
·         Boosting capital position: Auscann Group Holdings Limited (ASX: AC8) stock recovered over 4.4% on May 25, 2017 after falling over 21% in the last five days (as at May 24, 2017). The group has been successful in raising $12 million by issuing 24,000,000 shares at 50 cents a share. The group also came up with a cleansing offer of up to 1000 shares at an issue price of 50 cents a share to raise up $500.

·         Recommendation:AC8 has raised funds for cultivation and manufacturing activities and is speeding up their medical outreach program. We maintain our “Hold” recommendation on the stock at the current price of $ 0.47 

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