The white labeling negotiations have already commenced with the independent ATM deployers (IADs) and also with Goldfields Money. The level of demand for this when meeting with the IADs was far greater than expected so we have already commenced negotiations with Goldfields for the post-settlement of Indue roll out.
The one-off costs were in total circa $450k. We closed out the Cash My ATM purchase in the first week of July and we had costs associated with the termination of the existing cash convenience facility and providers and costs associated with the take-up of the Goldfields facility. We also had costs with the due diligence on Indue and gearing up for the takeover. and transition of services from Indue to Star. Some short-term pain for some much longer-term gain. The cash benefit to Star in the 2HY'2017 is $650k from the re-negotiation of that one contract alone!
STL Price at posting:
3.6¢ Sentiment: None Disclosure: Held
