This looks like one of the better back-door tech listings, but the details are fairly vague. Company mentions profitability from 1 July 2014 will be included in the transaction - what levels of profit are we talking? How long have contracts been in place with ANZ, MLC and Centrepoint?
Leaving existing shareholders with approx 30% of the company is generous compared to some of these deals going on at the mo.
Market cap even at current prices is low - would not be surprised to see this be one of those rare multi-day rises, but then again who is game to buy after a rise of 250+%? Still pretty illiquid.
What's the consensus of existing shareholders? Gonna hold on for better things, average down or sell on this spike?
Ann: Amended Change of Strategic Direction Announcement, page-2
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