Nice. $73m of fully franked divs heading shareholders way. I.e. $104m worth of cash and franking.
With proforma $12m net cash (1H23 adjusted for $19m Bourke Rd sale) that means effectively are buying op biz for $40m ($156m - $73/0.7 - $12m).
$4m drag to EBITDA in Fy25 but if we assume can grow earnings 5% per annum over FY24 and FY25 that means paying $40m for $16m of EBITDA 2.5 years out.
Think this one is going up!
Ann: A2B agrees to sale of O'Riordan Street, Alexandria, page-2
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