Behind the delectable chocolates shaped like a mythical Australian ape, there is plenty happening on the shareholder register of chocolatier Yowie (ASX:YOW).

 

  • Scroll down for the ASX’s other corporate movements today.

 

On Friday, Wilson Asset Management took a 13 per cent stake in the company, buying 28 million shares. This morning, Yowie announced that Fidelity had completely sold out of the company.

Fidelity was Yowie’s fourth biggest shareholder prior to that, with a 9.24 per cent holding.

All of this comes after another of Yowie’s shareholders, Keybridge Capital, lost patience with the company and launched a $20 million takeover offer.

It had earlier taken a 19.998 per cent holding alongside fellow investors Bentley Capital (ASX:BEL) and Aurora Funds Management, with the group saying it had identified Yowie as a good, but undervalued brand, with a stated aim of getting the company back on track.

Yowie bosses said the takeover offer from Keybridge was “highly opportunistic” and “fundamentally undervalued” its business, brand, intellectual property and cash balance.

The company’s shareholder register is yet to be updated following the Fidelity sell-out, but Bentley, Keybridge and Aurora will remain the three largest shareholders, in that order.

Yowie (ASX:YOW) shares rose one-tenth of a cent to 9c this morning.

 

In other ASX corporate activity news today

    • New CEOs for Danakali (ASX:DNK), Bardoc Gold (ASX:BDC). Danakali has appointed Niels Wage as its new CEO, a promotion from his role of chief commercial officer. Mr Wage has previously held senior roles at BHP. Robert Ryan has been appointed the new CEO of Bardoc Gold, replacing John Young, who becomes a director of the board.

 

    • TIGA Trading lifts its shareholding in TPI Enterprises (ASX:TPE). TIGA Trading, a major shareholder in poppy processing company TPI Enterprises, has lifted its stake from 14 per cent to 17.01 per cent.

 

  • Chant West (ASX:CLW) comes under heat from the ASX over financial figures. Late Friday Chant West responded to another query letter from the ASX, which is wondering why it included a $1.1 million research and development tax incentive refund in its revenue for the 2018 financial year. Chant West responded that it did not accept that its financial report was misleading, though it did agree that an internal change in company reporting metrics had the potential to cause confusion.

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