( ) shares are under pressure on Tuesday morning. At the time of writing, the ASX 200 stock is down 10% to $19.78. Why is this ASX 200 stock tumbling? Investors have been selling the financial services company's shares today after a from the Australian Taxation Office (ATO) cast doubts on the $2.175 billion sale of its Wealth Management and Corporate Trust businesses to KKR. According to the release, following ongoing and extensive engagement with the ATO, Perpetual has now received written views from the tax office. This is in relation to the tax treatment of the transaction that inform Perpetual's updated assessment of the estimated net cash proceeds to shareholders, if the scheme is implemented. The ATO has informed Perpetual that section 45B of the Income Tax Assessment Act of 1936 would apply to the scheme. This would mean that the entire cash return would be deemed to be an assessable unfranked dividend for shareholders and taxed at the applicable rate for each shareholder. In addition, the Commissioner has declined to provide Perpetual with a binding ruling that Part IVA will not apply and has also indicated that it cannot rule out that it will apply Part IVA. What's the damage? The ASX 200 stock notes that if the above were to apply, the assessed primary tax liability for Perpetual is estimated to be $488 million, without including any additional penalties and interest. This is significantly more than its previous estimate of $106 million to $227 million. As a result, the estimated cash proceeds to shareholders for the transaction would reduce from between $8.38 and $9.82 per share, as previously announced, to just $5.74 to $6.42 per share. Extremely disappointed In response to the news, the company said: Perpetual is extremely disappointed and disagrees with the Commissioner's views. Based on strong advice from relevant tax experts, including Senior Counsel, and following extensive Board testing and consideration, Perpetual continues to be of the view that the provisions should not apply. In Perpetual's assessment of the Scheme, it noted numerous previous scheme transactions that had been undertaken in a similar manner. However, it concedes that it may not be able to appeal the ruling given the impact it could have on the transaction and capital return. It adds: Perpetual considers it has strong grounds to dispute this position. However, to do so, Perpetual would need to withhold sufficient funds to cover the ATO's asserted corporate tax liability amount from any shareholder proceeds under the Scheme until completion of that process, which would be protracted, would only commence once Perpetual was assessed and there would be no certainty of the outcome. Perpetual and KKR are now engaging to consider the potential impact on the transaction. Is the transaction in danger? In recent days, Bell Potter suggested that this tax ruling could put the transaction at risk if it were not favourable. Though, it doesn't necessarily see this as a bad outcome. It said: If the ATO are pushing for more than $227m, then this should be put to shareholders, who could potentially vote against the Scheme. This might sound bad, but the equity market is now around 10% higher than it was in May, when KKR's price of $2,175m was agreed. These are good businesses and given the market, should be worth more now. Retaining them, and the Perpetual brand may be a preferable outcome to paying more than $227m in tax to the ATO.Four takeaways from former Rep. Matt Gaetz’s exit as Trump attorney general pick
Sunday night's Philadelphia Eagles' 37-20 victory at the Los Angeles Rams was a record-setter and an attention-getter ... especially, as far as Saquon Barkley knew, when it comes to attention from the NFL people who administer drug tests. Barkley's spectacular 255-rushing-yard, two-touchdown game saw the former New York Giants back lead the Eagles to a 9-2 start. Following the game and his 300-total-yards day, several other stars on the Eagles took notice of just how good Barkley really is. "He's the best in the league. He's the best at what he does," Quarterback Jalen Hurts said. "He's a bad man." "Bad'' as in ... so good the league wanted to test him for drugs? As it turns out, the note in his stall in the visitor's locker room calling for a league test was a prank orchestrated by tight end Dallas Goedert. Related: Can Eagles Compete With Red-Hot Lions? Barkley is in a neck-and-neck race with Derrick Henry of the Baltimore Ravens for the rushing title. ... and deserves to be in the MVP conversation as well. Running backs rarely win the award - it's become a QB thing - but if Barkley reaches 2,000 rushing yards this season? It'll be a conversation piece ... and no joke. Unlike the drug test note left in his locker. Related: NFL MVP Race: Josh Allen vs. Saquon Barkley?CHARLOTTESVILLE, Va. — The Mustangs spent three decades pushing to be back in a power conference. This season — and Saturday’s win over Virginia — showed why. No. 13 SMU (10-1, 7-0) dominated in its final road contest against the Cavaliers (5-6, 3-4) 33-7 to clinch a spot in the ACC title game on Dec. 7. Between a lights-out defensive performance, which included shutting out Virginia for the first 55 minutes of play, and another impressive showing from quarterback Kevin Jennings, the Mustangs cruised to victory to become the first team in the conference to secure their trip to Charlotte. Here are five thoughts from the win. Mustangs continue to make history in first ACC season Each week during this historic season, SMU has seemingly achieved more feats many thought were impossible during their first year in the ACC. After tearing through their first six conference opponents, SMU’s win Saturday made it the first team to make the conference title game in its first season after moving from a Group of Five conference to a power conference. The Mustangs’ dominant win against Virginia was their 16th straight against a conference opponent and 10th consecutive on the road — both among the longest active streaks in FBS. The Mustangs were picked to finish seventh in the ACC’s preseason poll, majorly exceeding expectations with their season that now has them on the brink of their first College Football Playoff appearance. SMU defense led by Isaiah Smith and Jared Harrison-Hunte stifles UVA offense SMU’s defense has been its most consistent facet this season, but after a weaker performance against Boston College last week, the group was seeking a bounce-back game. That’s exactly what the Mustangs got from Scott Symons’ group, which was 4:16 away from posting its first shutout of the season. The Cavaliers finished with just 173 total yards and 65 on the ground. Last week against Boston College, the Mustang defense allowed 180 rushing yards and three touchdowns. SMU was successful in getting to Virginia quarterback Anthony Colandrea, finishing with nine sacks. Defensive linemen Isaiah Smith and Jared Harrison-Hunte led the team with two each. Kori Roberson had 1.5 sacks. Virginia made just three red zone trips. It missed a 41-yard field goal in the first half and could not convert a fourth-down attempt in the second half after intercepting Jennings. With under five minutes to play, Virginia finally found the end zone as Colandrea hit Malachi Fields for the four-yard touchdown. Kevin Jennings earns spot to compete on conference’s biggest stage Jennings didn’t even begin the season as an ACC starter, but over the course of the last 12 weeks, he’s proven to be one of the conference’s top quarterbacks. Against Virginia, Jennings was outstanding again, leading the Mustangs with a career-high 323 yards on 25-of-33 passing (76%) and three total touchdowns (two passing, one rushing). He had a stretch in the first half where he completed 12 straight passes, including a third-down conversion where he dodged multiple sacks before finding Roderick Daniels Jr. for the completion. Jennings did have two turnovers in the second half, an interception and a fumble. Nevertheless, a matchup with either Heisman candidate Cam Ward from Miami or Clemson’s Cade Klubnik in the ACC championship will be an intriguing one. All wide receivers get involved in Jennings’ career day Jennings has lost two of his top receiving targets over the past few weeks with both tight end RJ Maryand and wide receiver Jake Bailey going down with season-ending injuries. But Saturday’s win showed the depth of the Mustang pass catchers with six different players recording multiple receptions and combining for 323 total yards. Jordan Hudson led the group in receptions for the second consecutive week. After recording a career-high seven catches for 99 yards and a touchdown against Boston College, Hudson had six for 56 yards and a 17-yard touchdown reception in the first half against Virginia. SMU’s leading receiver in yardage, however, was Moochie Dixon, who took four catches 89 yards with a long of 53 yards. Daniels added another five for 58 yards. Tight end Matthew Hibner had SMU’s final 16-yard touchdown with 1:42 remaining. The receivers stepped up, as Virginia limited SMU’s running backs, which combined for 111 yards on 35 carries. Mustangs to close out regular season at Ford Stadium SMU will get a chance to enjoy senior day next week without worrying about its ACC title game chances. Having already clinched their spot, SMU will play its final regular-season game at Ford Stadium against Cal with a chance to become the first since the 1992 Florida State Seminoles to finish its inaugural campaign in a power conference unbeaten. SMU has more to play for beyond the ACC title game. While it looks like the Mustangs will need to win the ACC championship to earn a spot in the College Football Playoff, at-large bids are still at play. Finishing 8-0 in conference play would be key to helping the Mustangs’ chances at one of those seven spots — or a better bowl selection should they miss out on the playoff. They will also await their ACC championship opponent. Miami can secure their title game berth with a win over Syracuse next week, but Clemson would earn the spot if Miami loses. ©2024 The Dallas Morning News. Visit dallasnews.com . Distributed by Tribune Content Agency, LLC.
Unretired two-time Pro Bowl LB Shaquil Barrett signs to resume career with Tampa Bay BuccaneersAstroDevam is a premium organisation providing ancient and authentic knowledge of Astrology, Vastu, Numerology, and Innovative Corporate Solutions with a contemporary perspective. AstroDevam, having patrons in more than 100 countries, has been promoted by Achary Anita Baranwal and Achary Kalki Krishnan, who not only have Master's Degrees in Astrology, but are engaged in teaching Scientific Astrology, Vastu, and Numerology for more than three decades. Read More Zodiac Signs That Can Become Good Detective Zodiac Signs that Have the Cutest Smile 5 Most Generous Zodiac Signs Zodiac Signs Who Should Believe Their Intuition 5 Zodiac Signs That Are Masters of Manipulation 5 Most Stylish Zodiac Signs Zodiac Signs That Are Extremely Loving 5 Zodiac Signs Who Always Act Like Smart Zodiac Signs That Love to be Single Top 6 Religious Zodiac Signs As Per Astrology
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Shinde emerges heir to Sena legacyAbortion has become slightly more common despite bans or deep restrictions in most Republican-controlled states, and the legal and political fights over its future are not over yet. It's now been two and a half years since the U.S. Supreme Court overturned Roe v. Wade and opened the door for states to implement bans. The policies and their impact have been in flux ever since the ruling in Dobbs v. Jackson Women's Health Organization. Here's a look at data on where things stand: Overturning Roe and enforcing abortion bans has changed how woman obtain abortions in the U.S. But one thing it hasn't done is put a dent in the number of abortions being obtained. There have been slightly more monthly abortions across the country recently than there were in the months leading up to the June 2022 ruling, even as the number in states with bans dropped to near zero. “Abortion bans don’t actually prevent abortions from happening,” said Ushma Upadhyay, a public health social scientist at the University of California San Francisco. But, she said, they do change care. For women in some states, there are major obstacles to getting abortions — and advocates say that low-income, minority and immigrant women are least likely to be able to get them when they want. For those living in states with bans, the ways to access abortion are through travel or abortion pills. As the bans swept in, abortion pills became a bigger part of the equation. They were involved in about half the abortions before Dobbs. More recently, it’s been closer to two-thirds of them, according to research by the Guttmacher Institute. The uptick of that kind of abortion, usually involving a combination of two drugs, was underway before the ruling. But now, it's become more common for pill prescriptions to be made by telehealth. By the summer of 2024, about 1 in 10 abortions was via pills prescribed via telehealth to patients in states where abortion is banned. As a result, the pills are now at the center of battles over abortion access. This month, Texas sued a New York doctor for prescribing pills to a Texas woman via telemedicine. There's also an effort by Idaho, Kansas and Missouri to roll back their federal approvals and treat them as “controlled dangerous substances,” and a push for the federal government to start enforcing a 19th-century federal law to ban mailing them. Clinics have closed or halted abortions in states with bans. But a network of efforts to get women seeking abortions to places where they're legal has strengthened and travel for abortion is now common. The Guttmacher Institute found that more than twice as many Texas residents obtained abortion in 2023 in New Mexico as New Mexico residents did. And as many Texans received them in Kansas as Kansans. Abortion funds, which benefitted from “rage giving” in 2022, have helped pay the costs for many abortion-seekers. But some funds have had to cap how much they can give . Since the downfall of Roe, the actions of lawmakers and courts have kept shifting where abortion is legal and under what conditions. Here's where it stands now: Florida, the nation’s third most-populous state, began enforcing a ban on abortions after the first six weeks of pregnancy on May 1. That immediately changed the state from one that was a refuge for other Southerners seeking abortion to an exporter of people looking for them. There were about 30% fewer abortions there in May compared with the average for the first three months of the year. And in June, there were 35% fewer. While the ban is not unique, the impact is especially large. The average driving time from Florida to a facility in North Carolina where abortion is available for the first 12 weeks of pregnancy is more than nine hours, according to data maintained by Caitlin Myers, a Middlebury College economics professor. The bans have meant clinics closed or stopped offering abortions in some states. But some states where abortion remains legal until viability – generally considered to be sometime past 21 weeks of pregnancy , though there’s no fixed time for it – have seen clinics open and expand . Illinois, Kansas and New Mexico are among the states with new clinics. There were 799 publicly identifiable abortion providers in the U.S. in May 2022, the month before the Supreme Court reversed Roe v. Wade. And by this November, it was 792, according to a tally by Myers, who is collecting data on abortion providers. But Myers says some hospitals that always provided some abortions have begun advertising it. So they’re now in the count of clinics – even though they might provide few of them. How hospitals handle pregnancy complications , especially those that threaten the lives of the women, has emerged as a major issue since Roe was overturned. President Joe Biden's administration says hospitals must offer abortions when they're needed to prevent organ loss, hemorrhage or deadly infections, even in states with bans. Texas is challenging the administration’s policy and the U.S. Supreme Court this year declined to take it up after the Biden administration sued Idaho. More than 100 pregnant women seeking help in emergency rooms and were turned away or left unstable since 2022, The Associated Press found in an analysis of federal hospital investigative records. Among the complaints were a woman who miscarried in the lobby restroom of Texas emergency room after staff refused to see her and a woman who gave birth in a car after a North Carolina hospital couldn't offer an ultrasound. The baby later died. “It is increasingly less safe to be pregnant and seeking emergency care in an emergency department,” Dara Kass, an emergency medicine doctor and former U.S. Health and Human Services official told the AP earlier this year. Since Roe was overturned, there have been 18 reproductive rights-related statewide ballot questions. Abortion rights advocates have prevailed on 14 of them and lost on four. In the 2024 election , they amended the constitutions in five states to add the right to abortion. Such measures failed in three states: In Florida, where it required 60% support; in Nebraska, which had competing abortion ballot measures; and in South Dakota, where most national abortion rights groups did support the measure. AP VoteCast data found that more than three-fifths of voters in 2024 supported abortion being legal in all or most cases – a slight uptick from 2020. The support came even as voters supported Republicans to control the White House and both houses of Congress. Associated Press writers Linley Sanders, Amanda Seitz and Laura Ungar contributed to this article.No. 25 Illinois' TD with four seconds left upends Rutgers
ALPHARETTA, Ga.--(BUSINESS WIRE)--Dec 9, 2024-- Jackson Acquisition Company II (the “Company”) announced today that it priced its initial public offering of 20,000,000 units at $10.00 per unit. The units will be listed on the New York Stock Exchange (the “NYSE”) and will trade under the ticker symbol “JACS.U” beginning December 10, 2024. Each unit consists of one Class A ordinary share and one right to receive one-tenth (1/10) of a Class A ordinary share upon the consummation of an initial business combination. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on the NYSE under the symbols “JACS” and “JACS.R,” respectively. The offering is expected to close on December 11, 2024, subject to customary closing conditions. The Company, led by Chairman of the Board of Directors and Chief Executive Officer Richard L. Jackson, is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination in any industry, the Company intends to concentrate its search on businesses with a focus on healthcare services, healthcare technology, or otherwise focused on the healthcare industry. Roth Capital Partners is acting as sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 units to cover over-allotments, if any. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing the SEC’s website, www.sec.gov . A registration statement relating to the securities was declared effective by the Securities and Exchange Commission on December 9, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s proposed initial public offering and the Company’s search for and/or completion of an initial business combination. No assurance can be given that the offering will be completed on the terms described, or at all, or that the Company will complete an initial business combination. Forward-looking statements are subject to numerous risks, conditions and other uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov . The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. View source version on businesswire.com : https://www.businesswire.com/news/home/20241209829813/en/ CONTACT: Richard L. Jackson Jackson Acquisition Company II (678) 690-1079 KEYWORD: GEORGIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE SOURCE: Jackson Acquisition Company II Copyright Business Wire 2024. PUB: 12/09/2024 06:09 PM/DISC: 12/09/2024 06:09 PM http://www.businesswire.com/news/home/20241209829813/enFormer National Party Minister Nikki Kaye has died at the age of 44, after a long battle with cancer. Political leaders from across the spectrum have praised Kaye, who was involved with National from 1999 and deputy leader under Todd Muller, for her "caring heart", high-energy campaigning and ability to reach across the aisle. Kaye had openly spoken about her health before retiring from Parliament. Follow the reactions here :
De La Rosa scores 27 points as Columbia tops Fairfield 85-72TOPEKA, Kan. (AP) — Republicans made claims about illegal voting by noncitizens a centerpiece of their 2024 campaign messaging and plan to push legislation in the new Congress requiring voters to provide proof of U.S. citizenship. Yet there's one place with a GOP supermajority where linking voting to citizenship appears to be a nonstarter: Kansas. That's because the state has been there, done that, and all but a few Republicans would prefer not to go there again. Kansas imposed a proof-of-citizenship requirement over a decade ago that grew into one of the biggest political fiascos in the state in recent memory. The law, passed by the state Legislature in 2011 and implemented two years later, ended up blocking the voter registrations of more than 31,000 U.S. citizens who were otherwise eligible to vote. That was 12% of everyone seeking to register in Kansas for the first time. Federal courts ultimately declared the law an unconstitutional burden on voting rights, and it hasn't been enforced since 2018. Kansas provides a cautionary tale about how pursuing an election concern that in fact is extremely rare risks disenfranchising a far greater number of people who are legally entitled to vote. The state’s top elections official, Secretary of State Scott Schwab, championed the idea as a legislator and now says states and the federal government shouldn't touch it. “Kansas did that 10 years ago,” said Schwab, a Republican. “It didn’t work out so well.” Steven Fish, a 45-year-old warehouse worker in eastern Kansas, said he understands the motivation behind the law. In his thinking, the state was like a store owner who fears getting robbed and installs locks. But in 2014, after the birth of his now 11-year-old son inspired him to be “a little more responsible” and follow politics, he didn’t have an acceptable copy of his birth certificate to get registered to vote in Kansas. “The locks didn’t work,” said Fish, one of nine Kansas residents who sued the state over the law. “You caught a bunch of people who didn’t do anything wrong.” Kansas' experience appeared to receive little if any attention outside the state as Republicans elsewhere pursued proof-of-citizenship requirements this year. Arizona enacted a requirement this year, applying it to voting for state and local elections but not for Congress or president. The Republican-led U.S. House passed a proof-of-citizenship requirement in the summer and plans to bring back similar legislation after the GOP won control of the Senate in November. In Ohio, the Republican secretary of state revised the form that poll workers use for voter eligibility challenges to require those not born in the U.S. to show naturalization papers to cast a regular ballot. A federal judge declined to block the practice days before the election. Also, sizable majorities of voters in Iowa, Kentucky, Missouri, Oklahoma, South Carolina and the presidential swing states of North Carolina and Wisconsin were inspired to amend their state constitutions' provisions on voting even though the changes were only symbolic. Provisions that previously declared that all U.S. citizens could vote now say that only U.S. citizens can vote — a meaningless distinction with no practical effect on who is eligible. To be clear, voters already must attest to being U.S. citizens when they register to vote and noncitizens can face fines, prison and deportation if they lie and are caught. “There is nothing unconstitutional about ensuring that only American citizens can vote in American elections,” U.S. Rep. Chip Roy, of Texas, the leading sponsor of the congressional proposal, said in an email statement to The Associated Press. After Kansas residents challenged their state's law, both a federal judge and federal appeals court concluded that it violated a law limiting states to collecting only the minimum information needed to determine whether someone is eligible to vote. That's an issue Congress could resolve. The courts ruled that with “scant” evidence of an actual problem, Kansas couldn't justify a law that kept hundreds of eligible citizens from registering for every noncitizen who was improperly registered. A federal judge concluded that the state’s evidence showed that only 39 noncitizens had registered to vote from 1999 through 2012 — an average of just three a year. In 2013, then-Kansas Secretary of State Kris Kobach, a Republican who had built a national reputation advocating tough immigration laws, described the possibility of voting by immigrants living in the U.S. illegally as a serious threat. He was elected attorney general in 2022 and still strongly backs the idea, arguing that federal court rulings in the Kansas case “almost certainly got it wrong.” Kobach also said a key issue in the legal challenge — people being unable to fix problems with their registrations within a 90-day window — has probably been solved. “The technological challenge of how quickly can you verify someone’s citizenship is getting easier,” Kobach said. “As time goes on, it will get even easier.” The U.S. Supreme Court refused to hear the Kansas case in 2020. But in August, it split 5-4 in allowing Arizona to continue enforcing its law for voting in state and local elections while a legal challenge goes forward. Seeing the possibility of a different Supreme Court decision in the future, U.S. Rep.-elect Derek Schmidt says states and Congress should pursue proof-of-citizenship requirements. Schmidt was the Kansas attorney general when his state's law was challenged. "If the same matter arose now and was litigated, the facts would be different," he said in an interview. But voting rights advocates dismiss the idea that a legal challenge would turn out differently. Mark Johnson, one of the attorneys who fought the Kansas law, said opponents now have a template for a successful court fight. “We know the people we can call," Johnson said. “We know that we’ve got the expert witnesses. We know how to try things like this.” He predicted "a flurry — a landslide — of litigation against this.” Initially, the Kansas requirement's impacts seemed to fall most heavily on politically unaffiliated and young voters. As of fall 2013, 57% of the voters blocked from registering were unaffiliated and 40% were under 30. But Fish was in his mid-30s, and six of the nine residents who sued over the Kansas law were 35 or older. Three even produced citizenship documents and still didn’t get registered, according to court documents. “There wasn’t a single one of us that was actually an illegal or had misinterpreted or misrepresented any information or had done anything wrong,” Fish said. He was supposed to produce his birth certificate when he sought to register in 2014 while renewing his Kansas driver's license at an office in a strip mall in Lawrence. A clerk wouldn't accept the copy Fish had of his birth certificate. He still doesn't know where to find the original, having been born on an Air Force base in Illinois that closed in the 1990s. Several of the people joining Fish in the lawsuit were veterans, all born in the U.S., and Fish said he was stunned that they could be prevented from registering. Liz Azore, a senior adviser to the nonpartisan Voting Rights Lab, said millions of Americans haven't traveled outside the U.S. and don't have passports that might act as proof of citizenship, or don't have ready access to their birth certificates. She and other voting rights advocates are skeptical that there are administrative fixes that will make a proof-of-citizenship law run more smoothly today than it did in Kansas a decade ago. “It’s going to cover a lot of people from all walks of life,” Avore said. “It’s going to be disenfranchising large swaths of the country.” Associated Press writer Julie Carr Smyth in Columbus, Ohio, contributed to this report.
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These are the four up-and-coming British companies I recommend investing in for real rewards next year and beyond, by shares guru JOANNE HART By JOANNE HART Updated: 16:55, 29 December 2024 e-mail 2 View comments Stock markets are intended to help companies grow. However, that theory has been sorely tested this year, with many firms hit by a cruel combination of economic uncertainty and investor apathy. Rachel Reeves's Budget made matters worse but this is no time for investors to turn their backs on Britain. Many UK stocks have huge potential. Often undervalued by the stock market, they have proved their resilience in recent years and shown they can move forward, even when conditions are tough. Midas top picks for 2025 include four such businesses, drawn from very different markets but all expected to deliver real rewards for shareholders next year and beyond. Assura The NHS is in a mess. More than six million people are waiting for treatment and half of them have been on waiting lists for four months or more. Cancer targets are continually missed, A&E waiting times are a national disgrace, and GPs are stretched to breaking point. To cap it all, the nation is becoming less healthy, with obesity levels rising, heart disease increasing, and life expectancy falling in the poorest parts of Britain. Change is needed – and Assura is helping to provide this. It designs, builds and manages healthcare facilities, from GP surgeries and NHS training centres to mental health units and private hospitals. Today, Assura has about 620 properties, two-thirds of which are GP surgeries, while private hospitals account for a quarter of the group. Many households regard private hospitals as greedy, price-gouging businesses. However, these are not just used by wealthy clients but also the NHS, helping to shorten waiting times and offering specialist services that the state simply cannot afford. Nuffield Health for example, Assura's largest customer on the private side, is a charity focused on community wellbeing. Assura designs, builds and manages healthcare facilities, from GP surgeries and NHS training centres to mental health units and private hospitals (picture posed by models) On the GP front, Assura surgeries are often modern and purpose-built, designed in consultation with doctors to create an environment that works for patients and medics alike. Chief executive Jonathan Murphy joined the group as finance director in 2013, rising to the top job four years later. Well regarded, Murphy is determined to build a business that improves Britain's health and delivers rewards for investors. Earnings and dividends have risen steadily over the past decade and last summer, Murphy spent £500 million on a portfolio of 14 hospitals, which are expected to drive growth for 2025 and beyond. Even after splashing out on the new assets, Assura is still forecast to increase dividends by 3 per cent to 3.3 p in the year to March 2025, putting the shares on a generous 8.5 per cent yield. Midas verdict: Property firms have been savaged recently and Assura is no exception, with its shares almost halving in value since 2022. This seems excessive. Health Secretary Wes Streeting is determined to make his mark and Assura is well positioned to benefit, as the government strives to ease pressure on the Health Service by encouraging greater use of GP surgeries and private hospitals. At 38p, the shares offer long-term growth and highly attractive dividends. Buy. Traded on: Main market Ticker: AGR Contact: assuraplc.com Telecom Plus American statesman Benjamin Franklin is credited with coining the phrase that nothing in this world is certain except death and taxes. But its first recorded mention was actually in a work by British playwright Christopher Bullock. For most of us today, though, another certainty is monthly bills. Never welcome, their number seems to increase on a regular basis – gas, electricity, broadband, mobile, insurance, plus numerous subscriptions to everything from TV to toilet paper. Telecom Plus aims to simplify customers' lives, with one bill covering energy, internet use, mobile phones and home insurance. Starting out from a pub in Henley-on-Thames in 1996, the company has more than a million customers and is valued on the stock market at almost £1.4 billion. Operating under the brand name Utility Warehouse, the group is focused on delivering top-tier service, ease of use and consistently competitive pricing. Accolades and awards suggest that the business is true to its word, as it has just been ranked number one for energy by Citizens Advice. Not only does Telecom Plus differ from peers in the range of services on offer, but it also acquires customers primarily by recommendations from existing users. Ordinary people – teachers, nurses, firefighters, police – tell friends, family or neighbours about Utility Warehouse and are rewarded for every person that they convert. Payment comes as a percentage of the new customer's bill – generally about 2.5 per cent – and for serial recommenders, known as agents, the rewards can be substantial, stretching to hundreds of pounds a year. The system is highly unusual but it works, with customer numbers – and profits – growing by more than 10 per cent a year for the past three years and set to continue. Chief executive Stuart Burnett is keen to double customer numbers to two million over the next five to seven years and add more services to his roster, with motor and pet insurance high on his list. Customers receive a loyalty card too, which takes money off their bill when they buy goods at chains such as Sainsbury's and Boots. Savings can run into hundreds of pounds for committed customers. The more customers join the group, the more profitable it becomes and the more dividends can be paid to shareholders. Shares guru Joanne Hart recommends that you buy and hold shares in Telecom Plus Brokers forecast a dividend of 94p for the year to March 2025, rising to £1.07 the following year and £1.18 in 2027. With the shares at £17.28, that puts Telecom Plus on a yield of almost 5.5 per cent. Midas verdict: Telecom Plus shares peaked at more than £25 two years ago, when energy prices were soaring and inflation was rampant. They have fallen 30 per cent since then to £17.28, with investors worried that new customers will be harder to find in today's environment. Evidence to date would suggest otherwise and the shares should bounce back in 2025 and beyond. Buy and hold. Traded on: Main market Ticker: TEP Contact: telecomplus.co.uk Distribution Finance Capital Staycations came into their own after the Covid pandemic and many holidaymakers decided they preferred them. More than 500,000 caravans trundle round the UK each year, demand for campervans and motorhomes has been soaring, and sales of new vehicles top 25,000 annually. Manchester-based Distribution Finance (DF) Capital oils the wheels of this market and its prospects are bright. The company provides finance to hundreds of dealers nationwide, via loans that are repaid as soon as vehicles are sold. Loans are subsidised by manufacturers so DF works with these firms as well, ensuring processes run smoothly from start to finish. Founded in 2016 by a trio of financial specialists who cut their teeth at US giant GE Capital, DF aims to stand out from larger competitors through a combination of top-tier technology and old-fashioned, personal service. Read More Where you should invest your money to set yourself up for a prosperous 2025, by JEFF PRESTRIDGE Rivals tend to be large banks, saddled with legacy IT. DF has built its own systems, which are easy to use by makers and dealers. Motorhomes and caravans account for about a quarter of DF's business. However, the group operates in several other areas too, from boats and motorbikes to pre-fabricated holiday homes and lodges for retirement communities. The latter are increasingly popular for older couples looking to downsize, release some funds and have fun in their senior years. Trading is brisk across the group. Working with almost 100 manufacturers and about 1,200 dealers, DF is growing fast. Chief executive Carl D'Ammassa revealed earlier this month that results for 2024 would be significantly ahead of expectations with profits of more than £18.5 million, a fourfold increase over 2023. There are high hopes for 2025 as well, with D'Ammassa planning to offer loans not just to dealers but to their customers too. The motor finance market has become enmeshed in scandal, with dealers and lenders accused of hiding commissions and overcharging customers. DF Capital will focus on specialist vehicles rather than cars, but should benefit as lenders across the industry struggle with past problems. D'Ammassa intends to start small as well, so he can be choosy in his choice of customers and keep credit quality high. DF runs a fully licensed savings bank too, financing its lending activity by offering consumers attractive rates, simple online processes and, again, friendly personal service for those who need it. Midas verdicT: Distribution Finance shares topped £1.30 in 2019. Today, they are 36p, hit by concerns about Covid, high interest rates and the collapse of a troublesome manufacturer, Royale Life, in 2023. That issue has been resolved, important lessons have been learned and DF shares have come off earlier lows. However, they are still too cheap at 36p and should deliver strong growth in 2025 and beyond. Buy. Traded on: Aim Ticker: DFCH Contact: dfcapital-investors.com IIG Gambling in China dates back at least 3,000 years, starting with an ancient precursor to chess, known as liubo. Today, however, most forms of gambling are illegal in the People's Republic, with two notable exceptions: the Welfare Lottery and the Sports Lottery, both of which are state-owned. Here too, there are restrictions, with lottery tickets historically available at just 200,000 designated shops, scattered across a country almost 40 times larger than Britain. Chinese New Year lottery tickets. About 100 million Chinese play the lottery today, out of a population of 1.4 billion Ten years ago, Englishman Daniel Levine and his Chinese colleague Frank Li Tong decided this presented a once-in-a-lifetime opportunity to drag Chinese lottery systems into the modern era and allow consumers to buy tickets online. The duo founded Hui10 to bring their idea to fruition and in 2023, UK-listed Intuitive Investments Group (IIG) acquired the business via a $365 million all-share deal. Aim-listed IIG boasts an impressive team. Chief executive Robert Naylor and chief investment officer Giles Willits have made serious money for shareholders in recent roles and hope to do the same again. Chairman Sir Nigel Rudd has a 40-year history of backing winners and believes Hui10 will turn IIG into a FTSE 100 business, so much so that he has persuaded top financiers to invest in the company. At the coalface, Levine and Tong have spent the past decade working with Chinese government bodies and local businesses. Now they are on the cusp of delivery. Systems have been approved and steps are under way to make China's lottery digital, including trial runs in certain parts of the country and promotional schemes with giants such as AliBaba, the Chinese equivalent of Amazon. A full roll-out is expected next year and the stakes are high. About 100 million Chinese play the lottery today, out of a population of 1.4 billion. If China were to follow the UK and America, those numbers could rise to at least 300 million over the next five years, sending IIG revenues from virtually nothing today to more than £1.5 billion, with profits running into hundreds of millions of pounds. Midas verdict: IIG shares are £1.10 today. If all goes according to plan, the stock could soar. Like any early-stage business, IIG is not without risk. But the board is top drawer, backers are savvy and Hui10 is determined to succeed. An appealing punt for the adventurous investor. Traded on: Aim Ticker: IIG Contact: iigplc.com Share or comment on this article: These are the four up-and-coming British companies I recommend investing in for real rewards next year and beyond, by shares guru JOANNE HART e-mail Add comment Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.
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