And it was a pending acquisition announcement that told me the fundamentals were too strong to see TNT retrace to the high teens as per your TA charts
@Sdaji... Good for you that you decided to buy back in before waiting too long!
The question I have is this...
Are we still expecting an additional acquisition in the short term or is Airloom it?
I found it interesting this morning's announcement stated "Phase 1 Acquisitions Completed, Phase 2 launched!" and that "Airloom" was part of PHASE 2.
What happened to the outstanding TWO Phase 1 acquisitions that appear to have vanished?
On August 4 in their "Completes Seer Acquisition" announcement they stated:
"The Company looks forward to keeping the market updated on the progress of further acquisitions in coming announcements."
They used the PLURAL "acquisitions", implying there are more than one to come.
However, in their Quarterly Announcement on July 28 they stated:
"The first phase is nearing completion following the initial acquisitions of Rivium, Pure Security
and north Security|Digital, and the more recent addition of Canberra-based firm Seer Security.
The latter acquisition strengthens the Company’s offering to the Canberra market, which is
expected to be an area of continued strong growth.
With Phase 1 nearing completion (the final acquisitions in this phase are at an advanced stage),
the Company will have cemented its place as the #1 end-to-end, pure cybersecurity firm of scale
on the ASX.
TNT looks forward to updating the market on the completion of the first phase of acquisitions, as
well as an update on our second round of strategic acquisitions, which are well advanced."
As you can see, they appear to have skipped these "final acquisitions" that were to complete Phase 1 and have gone straight to the first Phase 2 acquisition of Airloom.
I can't see any more Phase 1 acquisitions coming given their statement "Phase 1Acquisitions Completed, Phase 2 launched!"
Anyone know what happened?