this looks like a company changing acquisition if you take the...

this looks like a company changing acquisition

if you take the base EPS for FY18 of 0.82c then add in 20% growth (which is typical for both ST1 and the acquired business) you get to 1c of EPS.

For a business with high margin, lots of operating leverage and growing at 20% p/a and with acquisition options ... I would have thought that 20x is probably not out of the question but lets say a minimum of 17x which gives a range of 17-20c for the share price today.

12cents looks really cheap for what is a quality business. You get that when you do a 55% accretive deal in core business