This is what Raiz issued today...

Raiz Invest Limited (RZI): Notice under Section 249D of the Corporations Act

Raiz Invest Limited (Raiz or the Company) announces that following the close of trading yesterday, the Company received a request from BBH-GL Nominees Pty Ltd (a company associated with Managing Director/CEO George Lucas), being a shareholder holding greater than 5% of the shares in the Company, for the Company to call a meeting of shareholders pursuant to s249D of the Corporations Act (Cth) 2001.

The notice requests the convening of a general meeting of the Company to consider the following ordinary resolution:

“THAT pursuant to section 203D of the Corporations Act and clause 10.19(e) of the Company’s Constitution, Nina Finlayson, Kevin A Moore and Kelly Humphreys are removed as directors of the Company with effect from the close of this meeting.” Further details will be provided in due course. - ENDS -

DISC: I hold

Has anyone heard anything? This is trying to get rid of 3 out of 5 directors of RAIZ...

I can't believe RAIZ hasn't put any further info out! RAIZ shares currently down over 11% 1:44pm 1/9/21 

Raiz Invest Limited (RZI): CONTINUED STRONG GROWTH IN 1H21

1H21 Highlights

•  Continued strong growth in Active Customers, up 53.6% to 343,573.
•  Strong growth in Australian Funds under management (FUM), up 33.5% to $605.6 million.
•  Growth in Raiz Super, up 16.3% to $81.0 million, despite $5.8 million in Early Release.
•  Group revenues increased by 17% to $5.2 million compared to the same period in 2019, reflecting an increasingly diverse base.
•  $11.3 million in cash and term deposits.

Disc; I hold

Raiz Invest Limited (RZI): January 2021 - Key Metrics

Raiz Invest Limited (Raiz or the Company) Australian, Indonesian, and Malaysian Active Customers and Australian total Funds under Management (FUM) update for the month to 31 January 2021

Commentary

Raiz Invest MD/Global CEO George Lucas says: “Funds under management (FUM) and Active Customers both showed solid gains in January. Total FUM in Australia enjoyed a 5.5% growth spurt to $639.08 million.

“Active customer growth picked up the pace in January, increasing 9.5% to 376,198, driven by an increase in Active Customers in Australia.

“Custom Portfolio, which gives Australian customers greater choice to select their own asset weightings, was successfully launched in late January. The uptake has been very encouraging with more than 3,200 clients representing more than $14 million in FUM using this option. The average balance in a Custom Portfolio is $4,273, significantly higher than the average balance of $2,224 across the entire customer base.”

All figures are un-audited.

DISC: I Hold

5 January 2021 Raiz Invest Limited (RZI): December 2020 - Key Metrics

Raiz Invest CEO George Lucas says: “Funds under management (FUM) and Active Customers both showed solid gains in December, allowing Raiz to end the year on a positive note with record numbers for FUM and Active Customers.

“Total FUM in Australia increased by 4.2% to $605.59 million...“Active customer growth picked up the pace in December, increasing 8.1% to 343,573. Growth in Indonesia and Malaysia continue to exceed our targets, reinforcing our conviction that our long-term Southeast Asian strategy is correct."

DISC: I hold RZI

Onwards & upwards...