Ann: FY24 Investor Presentation, page-5

Great set of numbers..... slightly better than my expectations; and now throwing off Free Cash Flow of over $1.1 mil per month which will only accelerate over the next two years. My calcs are telling me that no dividend to payout, cash balance is building month by month, that we are already approaching $10mil by end of Aug. Management are constantly on the lookout for bolt-on acquisitions in all their markets, so we can look forward to further announcements over the next 6-9 months of using our cash balance for accelerating growth. Every added-on and converted site to APNR/our SPZ tech just about goes to bottom-line EBITDA, esp once a market surpasses about 100 sites.
Will not surprise that we get some announcements along the lines of...
1.Acquisitions in UK/Germany even Denmark
2.Possible start up of an Office in the USA...maybe even a small acquisition in the most favourable US state.
3.Some fund announcing it has substantial shareholding (>5%)
4.That Private Equity is sniffing and asking.....
5.If the acquisition is a largish one (eg 500-1000 sites) then maybe a small Capital Raise/SPP at these higher SharePrices will be announced. This last one is my least likely as management have been well-restrained with the use of Shareholders/Owners funds/cash, with measured and nicely priced acquisitions that they have made sure are a really good fit, and amalgamate well before moving onto the next one.
We are at an upward inflexion point with future profit growth. Management is aligned with shareholders re their shareholdings...this can only go up.

All in IMHO DYOR (cause I have) and yes I am a really LT holder (since 2012) and hold between 200-500K shares. BBB