Ann: Trading Halt, page-13

A comparison - Pro Medicus Limited Full-Year Results Friday 19 August 2016HIGHLIGHTS. After-tax profit $6.37 million –up 98%Underlying after-tax profit up 212% Revenue increased to $27.58 million –up 57%. EPS was 6.3 cents. Share price around $6 at the time. Thus trading on 100x. M7T guidance for CY2021 is $5 - $7M EBITIDA, $6M average say...cash earnings as no interest or tax. Yesterday was trading on $220M market cap/$6M cash earnings inclusive of acquisition. i.e 36x. Amazingly same revenue figure as PME in 2016 of $27M guided. However in 2016 PME had $100M in revenue locked away for the next 5 years so that did contribute to the higher multiple. If M7T can do what they are indicating, tendering and locking in more contracts then will gravitate to 60x + multiple. Congrats to management on the structure for the raising, looking after retail. As the MC increases and comes on funds radar new funds will have to buy on market and did not get a free entry card in the current raising. Looks like the market is working this out plus funds soaking up the arb rats.