Ann: Indicative proposal to acquire Centrepoint Alliance Limited, page-9

CAF was riddled with grandfathering claims for a long time. There is plenty of positives here and the larger part of the CAF business is Clearview + associates now. They did struggle with profitability but note that claims for grandfathering have largely ceased now and there is no need for provisions. The revenue model has completely shifted and the business has right sized.

too simplistic to suggest this is the Centrepoint of the past, in a completely different industry now. Centrepoint was garbage I agree, and I sympathize with you for being a shareholder on the way down. Personally I was a shareholder from 8c in may 2020 to 24c in Jan 2021. I flagged the claims for a reason as on a exc. Claims basis was profitable every year. As soon as those rolled off it was 2x PE and trading at 1x net cash on the balance sheet in may 2020 for a fairly decent business case along with 50m+ in tax losses and 16c in franking credits. Huge winner and decent business now.