Ann: Appendix 4C and Quarterly Activities Report, page-43

Pretty intense day at work so missed all this price action. Got to love a 45% rise. Excellent result and extremely strong cash conversion which eliminates any timing issues or concerns on the balance sheet, which was one of my key short term risks. Clearly that has driven the aggressive bid today. Despite the strong gain this is still very much undervalued and should continue to break out. Even at this level this remains below my implied FY21 valuation

I did find the below point a bit unusual/interesting given the recent CEO departure. I wonder if the two are related? Hard to judge from the outside but the timing of his departure took me by surprise. It certainly didn’t or doesn’t feel right in terms of him leaving now. Anyone with better insight on this would be useful




Finally, we’ll done to long term holders. Good to see you all rewarded for your patience