Clime suspended from ASX for missing audit deadline

Clime Investment Management has been suspended from the ASX after it missed the September 30 deadline to lodge its audited annual report.

Trading in Clime will remain suspended until after the FY26 annual report is released on the ASX.

"While this is disappointing, the board is not aware of any material change to the preliminary financial report published on 31 August 2026," Clime said.

It expects to release the audited reports in the coming days.

Clime said estimated pre-tax profit remains at $1 million, with the board intending to declare a fully franked dividend of 50 cents per share on completion of the audit.

Clime recently said it is selling its separately managed accounts (SMA) products and some managed funds for about $7.7 million to an unnamed party.

"Commercial terms are agreed. These transactions represent further progress in exiting sub-scale retail product structures and aligning the group to its future mandate-led operating model," Clime said.

The group has also finalised the sale of its retail advice arm, Clime Advice, for $6 million, comprising $1 million in equity and vendor finance of $5 million. It retains a 10% interest in the newly combined business.

The Australian Financial Review recently reported Clime Private Wealth was barred from the Netwealth platform two months ago following a review.

Clime Investment Management managing director Michael Baragwanath told Financial Standard the report is incorrect without providing further details.

Clime Private Wealth chief executive Kieran Berry and Clime Investment Management executive director John Abernethy did not respond to requests for comment.

A Netwealth spokesman said: "We will not comment on individual clients, advisers, or fund managers, and will not be drawn into specifics of any particular matter. What we can say is that our governance processes are designed to identify issues early, and our preference is always to work collaboratively with our platform stakeholders toward resolution."