A bit late to the thread, but if you read between the lines, the company recently picked up two new contracts, which implies growth in FY18 is already contracted above the $3m guided.
I can understand some investors wanting them to issue shares for a related party transaction, however the Chairman is already one of the largest shareholders of SSM and issuing more shares to him would only have been dilutive, particularly given there is already excess cash at SSM.
I think the company has gone to a lot of effort to comply with disclosure, been smacked anyhow on an acquisition that appears to have a lot of growth potential given SSM's existing relations with potential customers.
Hard to fault management recently and delivering strong organic growth not captured in the share price.
Watch SSM report a strong FY17 result and onwards and upwards as the related party issue is soon forgotten.
acquisition, page-7
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$1.56 |
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0.030(1.96%) |
Mkt cap ! $960.8M | |||
| Open | High | Low | Value | Volume |
| $1.53 | $1.57 | $1.53 | $1.122M | 723.3K |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.57 | 5040 | 1 |
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| SSM (ASX) Chart |