TOI.V News | FINWIRES

Topicus.Com Submits Revised Proposal To Buy Australia-listed ReadyTech

Topicus.com Inc. (TOI.V), a provider of vertical market software, over the weekend and through a subsidiary submitted a revised non-binding indicative proposal to acquire ReadyTech Holdings Limited (ASX: RDY) by way of a scheme of arrangement for cash consideration of A$2.00 per share, or in the alternative, an off-market takeover bid with a 50.1% minimum acceptance condition at a cash consideration of $1.75 per share.According to Topicus.com, the revised proposal constitutes a variation to the original non-binding indicative offer tabled with the ReadyTech board on the evening of Friday, May 29, 2026 (which was only for an off-market takeover at a cash consideration of $1.75 per share with a 50.1% minimum acceptance condition) and responds to feedback received from the ReadyTech Board regarding preferred offer structure and price in talks over the weekend.Under the revised proposal, subject to conditions outlined, the off-market takeover offer is proposed to be made simultaneously with the scheme of arrangement and would be conditional on the scheme not proceeding as a result of the scheme resolution failing to obtain the requisite approval of ReadyTech shareholders, Topicus.com said.The revised proposal offers the optionality to ReadyTech's shareholders for greater individual autonomy in opting to pursue liquidity at a certain valuation, whilst representing a compelling premium, it added.Topicus.coms said the scheme sonsideration of $2.00 per share represents: a 49.3% premium to ReadyTech's closing share price of $1.34 on May 29, 2026, being the last trading day prior to the submission of this Revised Proposal; a 47.5% premium to ReadyTech's one-month VWAP of $1.36; a 58.9% premium to ReadyTech's three-month VWAP of $1.26; and a 57.5% premium to the VWAP of ReadyTech's share price since 26 February, 2026, the date on which ReadyTech released its FY26 half year results.It added the takeover consideration of $1.75 per share represents: a 30.6% premium to ReadyTech's closing share price of $1.34 on May 29, 2026, being the last trading day prior to the submission of the Revised Proposal; a 29.1% premium to ReadyTech's one-month VWAP of $1.36; a 39.0% premium to ReadyTech's three-month VWAP of $1.26; and a 37.9% premium to the VWAP of ReadyTech's share price since 26 February, 2026, the date on which ReadyTech released its FY26 half year results.The company said it would like to progress the revised proposal on a recommended basis to "deliver a superior outcome" for all ReadyTech shareholders, and added it is committed to working with the ReadyTech Board toward that end.It noted the revised proposal is non-binding and is subject to a number of conditions.Shares in TOI were up 1% at $99.73 on the TSX last Friday

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Mining & Metals51d ago

RBC Provides its Canadian Technology Q1/CY26 Preview

RBC Capital Markets provided a first-quarter earnings preview for stocks in its Canadian Technology coverage universe on Friday.The S&P/TSX Info-Tech sub-sector had its "worst start to the year" since 2022, due to the continued downward re-rating of software stocks on concerns regarding AI disruption, noted RBC.While RBC expects Q1 results to be "largely in line" with consensus and believes the "magnitude of the pullback in software valuations is an overreaction," it believes sentiment is unlikely to materially change in the short term.Even though RBC anticipates "slightly improved organic growth" for the average stock in its coverage this quarter, the market appears "risk-averse and may largely ignore positive surprises and disproportionately penalize negative surprises," in light of the market sensitivity regarding AI disruption and uncertainty regarding the macro environment, said RBC.Among its covered stocks, RBC believes the "best-positioned stocks" for calendar Q1 results are Celestica (CLS.TO), Shopify (SHOP.TO), Constellation Software (CSU.TO), and Kinaxis (KXS.TO).RBC believes Celestica will report Q1 earnings above consensus and increase FY26 guidance, given hyperscaler capex continues to increase, along with strong network switch and AI server demand, against Celestica's historically conservative outlook, added RBC."Given the strong 36% YTD rally in Celestica's shares, Q1 results may not be a catalyst for the stock," said RBC. "Even so, we believe Celestica's strong growth momentum, ongoing margin expansion, and mix shift to more structurally attractive segments of the market are likely to help sustain Celestica's valuation to remain above peers and toward the high end of its historical range."For Shopify, RBC expects "solid" Q1 results and Q2 guidance slightly above consensus estimates.U.S. e-commerce spending strengthened through Q1, noted RBC which it believes implies revenue growth accelerates sequentially, with Q1 revenue and adj. EPS likely slightly above consensus."While the valuation of Shopify's shares has re-rated down with the YTD pullback in software stocks, Shopify's fundamentals remain solid, in our view, and we expect strong growth to drive shareholder returns over the long term," said RBC.RBC expects Constellation's shares to modestly rally following Q1 results."With the stock trading near multi-year valuation lows, we see investor sentiment improving, given Q1 slightly ahead of consensus, TTM free cashflow up 25%, and annualized Q1 capital deployed on acquisitions likely tracking to a new record," said RBC. "We see Constellation's valuation as compelling, compared to our forecast for a 17% adj. EBITDA CAGR over the next 3 years."RBC believes Kinaxis's shares may "slightly rally" following Q1 results. It expects Kinaxis to report "solid" Q1 results, slightly above consensus, with continued growth re-acceleration and likely healthy bookings."With Kinaxis seeing reaccelerating growth, but trading at discounted valuation levels, we see compelling risk-reward on the shares," added RBC. "Moreover, ramping share buybacks may provide a floor for the stock."Price: $565.60, Change: $+28.12, Percent Change: +5.23%

$AIF.TO$CGY.TO$CLS.TO$CSU.TO$CVO.TO$GIB-A.TO$ISC.TO$KXS.TO$LMN.V$OTEX.TO$SHOP.TO$TOI.V$VHI.TO