Bravura recapitalises
Specialist financial services IT platform provider Bravura will today initiate a rights issues on the Australian Securities Exchange following shareholder sign-off of a recapitalisation proposal.
The recapitalisation was approved by shareholders at a meeting on Friday and effectively resolves issues surrounding the status of shares affected by the collapse of Lift Capital.
Commenting on the recapitalisation, Bravura chairman Chris Ryan said the strategy would substantially strengthen Bravura’s balance sheet, provide operational stability and resolve long-standing uncertainty associated with Lift Capital.
Bravura shares owned by joint chief executives Iain Dunstan and Ian Woodfull were affected by the collapse of Lift Capital and the recapitalisation arrangements have helped clarify the beneficial ownership of those shares.
AUTHOR
Mike Taylor
Recommended for you
The profession is up by almost 200 advisers for the new financial year, with August continuing the consistent weekly positive gains.
WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acquisitions.
The Australian Wealth Advisors Group has entered into a joint venture with a Melbourne financial services firm to launch a wealth manager.
Remediation and litigation costs have led AMP to announce a reduced statutory net profit after tax of $98 million for the first half of 2025.
