Agree with your first comment SS.
I recall previous announcements where they've stated "our valuation should be higher".
Coming from holders is one thing, but from Management it sounds a bit desperate.
If they were listed on a US exchange, perhaps there would be a higher multiple applied.
The ASX is a fickle beast. You're only as good as your last 4C.
I suspect there is pressure from a subset of Top 20 to look at carving off some of the company.
DMX have publicly stated it, but they only own ~2M shares.
WES or SIG might show interest in the AU business but that leaves all revenue from the US.
The US is just hitting its strides, so selling to Veritas or countless others would be shortsighted.
I joined the AGM remotely.
There's three quarters to go, so enough runway to recover and win back sentiment.
- Transformation 360 was initially forecast to cost $10-$15M from internal funding.
- Didn't know an external party was supporting this, Mindsprint.
- This activity should now only cost $8.3M.
- ESoP (Extended Scope of Practice) is national in ~60% of their pharmacy base.
- I believe I heard Full Scope of Practice (FSoC) pilot is to go beyond QLD.
- Reiterated extension of funding at more favourable terms.
- It seems they will hold their cards close to their chest regarding the strategic options.
- Perhaps on the back of (my) comments, no CR or acquisition during the review.
- Slide 19 mentions M&A to deliver 20-25% inorganic growth.
- "Vibe" was good.
- Rick was transparent and spoke at a high level to the operational issues.
- Yes this did impact Q1 revenue. Q1 would have been a ~10% increase otherwise.
- Confidently stated the impact is behind them.
- Some missed Q1 revenue will be reflected in Q2.
- Q&A (one question) appeared to only come from retail. No analyst representation.
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