@PuntaaOf course the gap is wide and the true value of AYS can...

@Puntaa

Of course the gap is wide and the true value of AYS can only be leveraged by Optus or TPG and only be fully converted into shareholder value through a takeover but hints towards such are intensifying. The Australian today reports that "Some have believed that [the Click Energy] sale paves the way for Singtel’s Optus to buy Amaysim, which provides SIM-only mobile plans, with the telecommunications provider looking on again and off again for years at the operation.Recently, there has been some talk that Optus has once again been circling."

It is also interesting to note that according to itnews "financial adviser Luminis Partners and legal adviser King & Wood Malleson" are working on the new Network Supply Agreement" (https://www.itnews.com.au/news/amaysim-goes-to-market-as-optus-network-deal-approaches-expiry-552621). That's a pretty extensive and high rank team of advisors for just a wholesale agreement, something so specific to this business and industry that I doubt external advisors could be contributing much, at least on the commercial side.

As Bloomberg details: "Luminis Partners Pty Ltd operates as a corporate advisory firm. The Company offers advisory services on strategy, mergers, takeovers and takeover defense, acquisitions, divestments, restructuring, and capital markets activities. Luminis Partners serves to major corporations, governments, and institutions worldwide."

Luminis Partners has already advised AYS on the this week's sale of the energy business, so it looks like a takeover of AYS is in the making.


On AYS' energy adventure I agree that it was not very fortunate but we should also keep in mind that despite the energy business was sold below the acquisition price of Click it yielded fair profits for three years which should be considered, so other than various reports suggest, it was still a profitable investment.
On the remuneration levels I do share your concern and note that the only reason to delay the annual report by a week was apparently to reward management with extra options based on "the positive realisation of shareholder value through the successful sale of amaysim’s Energy business" raising questions on corporate governance.



@PimpMyStock

Possible in theory and common in other countries but I don't believe such a setup would be commercially attractive as it would add complexity while the wholesale conditions will hardly improve based on the necessarily smaller volumes AYS could commit to.