Ann: Settlement of PFS Group Acquisition Liabilities, page-20

You clearly have no clue what this means. The vendor payments of $40m were due to be paid in instalments when PFS was acquired on renogetiated terms back in 2020.

These outstanding payments were always part of the total 'interest borrowing liabilities' which were approx $95m on the balance sheet. These were due in June 24 and June 25.

Within a space of less than four weeks post Sentenial sale and todays announcement EML has essentially gone from being net debt of $20m to being net cash $50m.

Although Sentenials sale was on the cards, todays announement was a nice surpirse that nobody was really expecting.

$16m reduction is material for a business with a current EV of $330m.