Ann: UWL: UWL Response to Speculation, page-17

There has already been 1 acquisition by UWL as per below giving them 22k customers. My thoughts are the acquisition of ST1 will be scrip based. Likely around 20-22c value. ST1O become interesting as they have a strike price at 19.688c and will need to be addressed in any TO scenario.

“Uniti Wireless Limited (ASX:UWL) has today commenced trading on the Australian Stock Exchange (ASX) after completing a capital raising of approximately $13.2M.
On the 11th February 2019 Uniti Wireless acquired all the issued shares in FuzeNet Pty Ltd through a combination of UWL shares and cash consideration partly funded by the capital raising.
The merged businesses will have combined revenue of more than $22M and more than 22,000 customers. Forecast pro-forma full year EBITDA to 30 June 2019 for the merged business was stated in the Prospectus to be approximately $2M.
Uniti Wireless is an Internet Service Provider (ISP) and licensed telecommunications carrier that delivers premium fixed wireless broadband connections to consumers and small business, as an alternative to, and independent of, the NBN and a replacement for legacy copper networks. Uniti Wireless provides these connections over its owned wireless access network infrastructure, supported by third party fibre backhaul and Internet connectivity.
FuzeNet (also an ISP) offers broadband and Internet data connectivity services to consumers and small business as a reseller of third party fibre access networks that have been constructed as an alternative to the NBN. FuzeNet has also been a small Retail Service Provider (RSP) of the NBN (via a wholesale arrangement) principally to support customer retention. FuzeNet is a reseller and acquires access to non NBN third party fibre networks on a wholesale basis and is also an alternative to the NBN.
The UWL merged business will supply wireless and fibre broadband access to super-fast networks and services. Supported by an Australian based customer service and delivery team UWL offers a replacement for copper networks and an alternative to NBN services, to connect Australians to high- performance Internet and broadband networks. With access to a diversified mix of network technologies the business will be able to expand nationally to provide high quality network services and enable consumers and businesses to enjoy the Uniti experience.
UWL will continue to be a RSP of the NBN strategically offering the NBN network in regions where the UWL non NBN wireless and fibre network access is not enabled.
Post the merger, UWL will have access to a larger number of sites where non NBN fibre has been deployed enabling UWL to deploy it’s owned wireless infrastructure network beyond the Adelaide and Melbourne markets where it presently exists. The merged business will also have an expanded product set and the capability to embrace emerging technologies to continue to provide premium broadband connectivity.”