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Craig Coleman buys $200k of Universal Biosensors stock

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In a recent move that has caught the attention of the market, Craig Coleman, a director and significant shareholder of Universal Biosensors Inc (ASX:UBI), has increased his stake in the company through a substantial purchase of shares. According to the latest filings, Coleman acquired one million shares at a purchase price of AUD 0.20 each, amounting to a total investment of AUD 200,000.

This transaction has boosted Coleman’s total holdings to 56,798,601 shares, as reported in the filing. Notably, the shares purchased are traded as Chess Depository Interests (CDIs) on the Australian Stock Exchange, representing beneficial interests in the common stock held by CHESS Depository Nominees Pty Ltd.

It should be noted that Coleman is associated with Viburnum Funds, serving as a director. Viburnum is the manager of the VF (NYSE:) Strategic Equities Fund and separately managed accounts, which are the direct beneficial owners of the common stock and stock options related to Universal Biosensors. While Coleman disclaims beneficial ownership of the shares held by these entities, except for his pecuniary interest, the filing indicates that due to his position, he may be deemed to share voting and dispositive power over these shares.

Furthermore, the filing also references holdings in stock options, with Viburnum potentially having beneficial ownership of 1,920,000 stock options with an exercise price of AUD 0.92 and an expiry date of May 26, 2025, as well as an equivalent number of stock options with an exercise price of AUD 1.00 expiring on the same date.

These transactions underscore a continued interest and confidence from Coleman in Universal Biosensors’ prospects. Investors are often keen to follow the trading activities of company insiders, as their actions can provide insights into their expectations for the company’s future performance.

The signature on the filing was provided by David St. Quintin, acting as attorney-in-fact, and the document was dated March 26, 2024.

InvestingPro Insights

As Craig Coleman demonstrates his confidence in Universal Biosensors Inc (ASX:UBI) with a substantial increase in his stake, the company’s financial metrics provide an interesting backdrop. With a market capitalization of 28.74 million USD, the company’s valuation is modest, yet it shows significant revenue growth in the last twelve months as of Q4 2023, with an increase of 46.58%. This is further highlighted by an impressive quarterly revenue growth of 178.3% in Q1 2023, signaling potential for the company’s future financial performance.

Despite a negative P/E ratio of -4.41, which adjusted for the last twelve months stands at -5.99, the gross profit margin remains robust at 64.6%, indicating the company’s ability to maintain profitability on its products or services. However, the operating income margin is at -251.48%, reflecting challenges in managing operating expenses relative to revenue.

Investors tracking insider transactions like Coleman’s may find these metrics particularly relevant. While the near-term price performance shows volatility with a 1-week price total return of -22.45%, the 1-month return has seen a sharp rebound of 26.67%, suggesting market reactions to recent company developments or insider activities. Such dynamics underscore the importance of staying informed with comprehensive tools like InvestingPro, which offers further insights into Universal Biosensors’ performance.

For those looking to delve deeper, InvestingPro provides additional tips and metrics to help investors make informed decisions. Currently, there are more tips available on InvestingPro for those who wish to explore Universal Biosensors’ investment profile further. Investors can take advantage of the exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a more extensive array of InvestingPro Tips to guide their investment strategies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Comet fragment lights up sky over Spain and Portugal ‘like a movie’

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By Catarina Demony and Ana Cantero

LISBON (Reuters) – A bright comet fragment lit up the skies over parts of Spain and Portugal late on Saturday, according to the European Space Agency (ESA), with one Lisbon resident saying the dazzling display “felt like a movie”.

On Sunday morning, the ESA shared on X a video captured by its “fireball camera” of what it described as a “stunning meteor” over the skies of the western Spanish city of Caceres, near the Portuguese border.

But it later said it appeared to be a “small piece of a comet” and not a meteor, estimating it flew over Spain and Portugal at a speed of 45 km (28 miles) per second before burning up over the Atlantic.

“The likelihood of any meteorites being found is very low,” the ESA said.

In both countries, videos shot in several cities and towns went viral on social media, showing the object crossing the night sky at high speed and illuminating it in bright tones of blue and green.

The Spanish Calar Alto astronomical observatory also said a preliminary analysis by Andalusia’s Institute of Astrophysics revealed the object had a “cometary origin”.

During a concert in the Portuguese city of Barcelos, the object was filmed streaking across the sky as the singer performed. Another video showed the skies of Porto, Portugal’s second biggest city, turning bright for a few seconds.

Many contacted emergency services to report what happened. A spokesperson for the Spanish Emergency service 112, in Madrid, told Europa Press news agency it had received several calls.

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Lisbon resident Bernardo Taborda, 31, told Reuters he was walking around the city with friends when the sky suddenly turned bright green: “It almost looked like daylight … we all looked back and saw it.”

“It felt like a movie, we all looked at each other and we were stunned,” Taborda said. “It was amazing.”

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Helicopter carrying Iran’s President Raisi crashes in mountains, official says

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By Parisa Hafezi and Elwely Elwelly

DUBAI (Reuters) -A helicopter carrying Iranian President Ebrahim Raisi and his foreign minister crashed on Sunday as it was crossing mountain terrain in heavy fog, an Iranian official told Reuters, and rescuers were making their way to the site of the incident.

The official said the lives of Raisi and Foreign Minister Hossein Amirabdollahian were “at risk following the helicopter crash”, which happened on the way back from a visit to Iran’s border with Azerbaijan.

“We are still hopeful but information coming from the crash site is very concerning,” said the official, speaking on condition of anonymity.

The bad weather was complicating rescue efforts, the state news agency IRNA reported. The chief of staff of Iran’s army ordered all the resources of the army and the elite Revolutionary Guard to be put to use in the search and rescue operations.

State TV stopped all its regular programming to show prayers being held for Raisi across the country and, in a corner of the screen, live coverage of rescue teams deployed on foot in the mountainous area in heavy fog.

The rescue teams were expected to reach the site of the crash later on Sunday evening, state TV reported.

Raisi, 63, was elected president in 2021, and since taking office has ordered a tightening of morality laws, overseen a bloody crackdown on anti-government protests and pushed hard in nuclear talks with world powers.

In Iran’s dual political system, split between the clerical establishment and the government, it is the supreme leader rather than the president who has the final say on all major policies.

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But many have seen Raisi as a strong contender to succeed his 85-year-old mentor, Supreme Leader Ayatollah Ali Khamenei, who has strongly endorsed Raisi’s main policies.

Raisi’s victory in a closely managed election in 2021 brought all branches of power under the control of hardliners, after eight years when the presidency had been held by pragmatist Hassan Rouhani, who negotiated a nuclear deal with Washington.

However, Raisi’s standing may have been dented by widespread protests against clerical rule and a failure to turn around Iran’s economy, hamstrung by Western sanctions.

Raisi had been at the Azerbaijani border to inaugurate the Qiz-Qalaisi Dam, a joint project.

Interior Minister Ahmed Vahidi told state TV only that one of the helicopters in a group of three had come down in the incident, and that authorities were awaiting further details.

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Sean ‘Diddy’ Combs apologizes after video depicting attack on ex-girlfriend

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By Katharine Jackson

(Reuters) – Music mogul Sean “Diddy” Combs posted an apology to social media on Sunday, two days after the release of hotel surveillance video that appeared to show him attacking his ex-girlfriend.

“I’m truly sorry,” Combs said in a video post on his Instagram page. “My behavior on that video is inexcusable. I take full responsibility for my actions in that video. I’m disgusted. I was disgusted then when I did it. I’m disgusted now.”

Addressing the camera directly, Combs said he had sought therapy and gone into rehab.

In the surveillance video from 2016, which was released by CNN on Friday, the rapper appears to grab R&B vocalist Casandra Ventura as she waits by an elevator in a California hotel. Clad only in a towel, he throws her to the floor, kicking her repeatedly before dragging her toward a hallway, the video shows.

A representative for Combs could not be immediately reached for further comment.

Ventura, who performs under the stage name Cassie, sued Combs in 2023, accusing him of serial physical abuse, sexual slavery and rape during a 10-year professional and romantic relationship in which he controlled her through intimidation, drugs and alcohol. The parties settled the matter the following day for undisclosed terms. Representatives for Combs said at the time the settlement was “in no way an admission of wrongdoing.”

The lawsuit was one of at least four civil complaints in recent months that leveled sexual assault allegations against Combs.

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The U.S. Department of Homeland Security said in March it had opened an investigation into the hip-hop star and searched his homes in the Miami area and in Los Angeles; it provided no details of the nature of the investigation.

Local television images of the search showed an armored vehicle and officers carrying rifles outside Combs’ Los Angeles home. Authorities detained some people at the property with their hands bound by zip ties.

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