afr comment

AFJ got some coverage on the back page of the AFR today.
Referred to how much this co has paid out in fees at both IPO and now with the latest raising.

Made comment that some of the acquisition fees are normally paid by the vendor not the acquirer. Also there are many conditions precedent to the latest deal.

This is just something to note i.e. the acquisitions cost more than just front line multiples of EBIT

I am a AFJ holder and must admit I am sitting in judgement of this company and will need to see some signs of smart and reliable management, not just acquisitions for acquisition sake. Mr Market is smart enough to know when deals do not add value.

But still on board....

Gosouth