Ann: Shareholders to vote on Humm Consumer Finance transaction, page-89

Firstly I must say that there is some excellent discussion on the forum over the last few days, it is enjoyable to read,

I agree with Capital 3157 in that AA is a destroyer of capital and this company, I can’t believe where we are today after all the capital raisings and always making a profit,

But still do believe that this is worth more and that LFS will pay for it. It is not just the turnover/profit LFS wants it is the IT that HUM have developed over the last few years to run the BNPL which allows it to run BNPL at a profit which none of the others can.

Just look at the $350million loss Afterpay made on the previous half and that ZIP is now down to 87 cents. If you can get some decent turnover coupled with the HUM IT then you will remove a lot of the bad credit risks and start to make a decent profit which is what LFS wants.

I am not expecting an offer of $2.00 but believe that something like 40% of an LFS share for one of Humm’s rather that the 30% offer would sweeten the deal nicely.

Remember they are paying mostly in shares which cost them nothing.