G8 Education Ltd

GEM Details
·         Notice of ceasing to be a substantial holder: G8 Education Ltd (ASX: GEM) stock lost over 2.16% on March 29, 2017 after the ASX release stating that UBS group AG and its related bodies corporate have ceased to be a substantial holder post selling the stake in the group.
 
·         Recommendation: GEM stock rose over 34.6% in the last six months (as of March 28, 2017) and is trading close to its 52-week high price. We give a “Hold” recommendation at the current price of – $ 4.07

Thorn Group Ltd

TGA Details
·         Response to Media commentary: Thorn Group Ltd (ASX: TGA) stock price declined over 11.7% on March 29, 2017 after the company became aware of media commentary with respect to a potential class action which would be started against TGA in connection with its past lending practices. However, till date the company has not been served with any statement of claim and accordingly cannot comment further at this stage. If any proceedings be commenced, they would be defended vigorously. Moreover, TGA continues to engage with the Australian Securities and Investments Commission (ASIC) with respect to ASIC’s investigation into the responsible lending obligations of the company’s consumer leasing division, Radio Rentals. TGA expects that ASIC will seek a civil penalty and would require further compensation and remediation. Therefore, TGA has made a further provision with a $4 million profit after tax impact in its financial statements for the year ending March 2017. Additionally, TGA expects its net profit after tax for the financial year ending March 2017 to be in the range of $24 million to $26 million after accounting for the provisions.
 
·         Recommendation: TGA stock fell 21.11% in the last three months (as of March 28, 2017). We give a “Hold” recommendation on the stock at the current price of – $ 1.32

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