Tech company collapse sparks shareholder battle with $14b chipmaker
Perth-based Nuheara collapsed into administration last August after it was unable to refinance a $2.5 million loan from Realtek, which was its largest shareholder, amid struggling sales and consistent losses.

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Richard White lieutenant Zubin Appoo lands CEO role at WiseTech Global
WiseTech Global has elevated a key lieutenant of billionaire founder Richard White to chief executive to lead the logistics software giant out of a tumultuous 12 months. Current chief of staff Zubin Appoo will succeed interim boss Andrew Cartledge, who was pushed into the role last October after Mr White gave up the job amid a series of damning allegations and a board investigation into his relationship with employees. There were also allegations that he used his influence to gain sexual favours, and paid for a multimillion-dollar house for an employee he had been in a relationship with. Mr White sensationally regained control of WiseTech in February as executive chair, despite the board investigation finding he failed to fully disclose personal relationships with employees. His return was preceded by the departure of four independent directors who had voiced concern about his ongoing influence over the $33.5 billion listed company. Mr Appoo previously worked at the company between 2004 and 2018 as head of innovation and technology, working closely with Mr White, and rejoined the ranks in April. In an announcement to the Australian Securities Exchange on Monday, WiseTech said he was a proven technology leader with an extensive understanding of WiseTech's business, which develops software solutions for global supply chains and logistics firms. It has a current customer base of 16,500 and in May announced a $3.3b deal to fund expansion in the US through the acquisition of Texas-based e2open — the biggest ever deal in the company's 30-year history. 'He will collaborate with and support co-founder and executive chair, Richard White, with long-term product vision, innovation and strategic investment,' the statement said. 'The appointment of Zubin reinforces the board's commitment to robust governance and clarity of executive roles. 'This leadership model ensures the complementary strengths of both our executive chair and CEO are fully harnessed — with the CEO accountable to the board for operational performance and strategic execution. 'This clarity will serve our people, customers, partners, and investors well.' Mr Appoo will have 'full accountability for the performance and growth of the business, including leadership across operations, people, culture, product delivery and commercial performance'. Lead independent director Andrew Harrison said Mr Appoo would bring to the role a strong software and product development background along with 'knowledge of WiseTech's products, markets and methods'. Mr Harrison also said he would 'seamlessly partner with our co-founder and executive chair, while also operating independently and decisively as CEO'. Mr White said WiseTech needed a strong succession plan in place as the company plots its next phase of growth. 'Since rejoining WiseTech as chief of staff, Zubin has been working closely with our senior leadership team, our development teams, as well as customers, and investors,' he said. 'He has immersed himself in WiseTech's business operations with a focus on driving innovation, value creation, and efficiencies.' Mr Appoo will start on a base annual salary of $700,000 with a remuneration equity grant of $700,000 a year delivered in the form of share rights.


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Boss Energy's shares plummet 39 per cent following disappointing guidance at Honeymoon uranium project
Shares in uranium miner Boss Energy have been pulverised by a poor production outlook, which came just days after its managing director resigned. Boss was trading 39 per cent lower on Monday morning at $2.08 a share, wiping out about $540 million worth of value from the Subiaco-based business. June quarterly production figures at its flagship Honeymoon operation were better than analysts had expected but the company's forecast for the South Australian site furrowed the brows of investors. Honeymoon's cash costs are expected to increase this financial year primarily due to 'an expected decline in average tenor and an optimised lixiviant chemistry'. Higher tenor essentially equates to higher quality uranium and a lixiviant is the chemical concoction used to extract uranium from ore. 'The optimised lixiviant chemistry is expected to be value accretive through improved headgrade and total wellfield recovery but will result in higher specific consumptions and (cash) cost,which has been reflected in the forecast cash cost for FY2026,' Boss stated. A cash cost forecast of between $41 and $45 a pound of drummed uranium has been pencilled in for FY2026, compared to $36/lb for the June quarter. The Honeymoon headaches are expected to continue next financial year. An assessment of wellfield performance since Honeymoon restarted production in April last year has identified some 'potential challenges' going forward. 'Boss has identified potential challenges that may arise in achieving nameplate capacity as previously outlined in the enhanced feasibility study,' the company stated. 'This is largely due to the potential for less continuity of mineralisation and leachability. 'An independent review by subject matter experts will commence shortly to determine the extent to which the above affects EFS assumptions. Boss will keep the market informed.' The share price bloodbath comes less than a week after Boss announced its long-serving chief executive Duncan Craib would step down from the role at the end of September. Mr Craib, who has been Boss' chief since 2017, will then join the board as a non-executive director from the start of next year. Chief operating officer Matt Dusci — a former CEO of IGO — is set to take the reins from Mr Craib. In May last year, just weeks after Honeymoon produced maiden uranium, Mr Craib sold 3.75 million of his 4.24 million shares for an average of $5.63 each to rake in $21.1m. Boss has since lost more than 60 per cent of its value. The company is the third most shorted stock on the Australian Securities Exchange, with fellow Perth-based uranium miner Paladin Energy holding first place. Shares in Paladin on Wednesday lost more than 11 per cent after its production guidance also disappointed the market. Paladin produces uranium from its Langer Heinrich mine in Namibia.