The announcement says they will have no debt and cash proceeds of 97m. There is no mention of tax liability on top of this so I would assume the 97m is net of tax.
Agree, the iTrack and 2rt business seems undervalued. I'm not sure how much cash they will need to fund this. ITrack should be EBITDA positive for FY20, so I wouldn't imagine they would need a significant amount. In an ideal scenario, the iTrack business could fund 2RT!!
Note after the sale, Ellex will be more of a risky business as they have sold the stable part. 1H20 iTrack results will be interesting. Hopefully they have some growth to report!
Ann: $100M Lasers & Ultrasound business sale to Lumibird Group, page-35
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