In line with expectations for me.
I think the value breaks down to approximately the following per share:
0.68c from Latitude
0.20c existing Humm cash reserves
0.45c commercial finance business
$1.33 per share
I assume Humm is keeping all of their current cash reserves and the commercial leasing side being retained is valued on 10x earnings (which is low for a high growth company).
The offer seems reasonable given the latest NPAT figures included a large winding back of loss reserves which is effectively taking FY20 profits and putting them into FY21, which is never going to be factored into the purchase price. Although it would be nice to see a second offer and squeeze a bit more out.
Ann: Proposal from Latitude for Humm Consumer Finance, page-41
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85.0¢ |
Change
0.010(1.19%) |
Mkt cap ! $417.6M | |||
| Open | High | Low | Value | Volume |
| 86.5¢ | 87.0¢ | 84.5¢ | $692.7K | 810.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 294 | 84.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 85.5¢ | 10440 | 3 |
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