Ann: Appointment of National Acquisitions Manager, page-15

Yes still a sell.... nothing real meaty here. just buying another 2 years of stock - as misleading as the title of 8 years earnings.

Two sites in Melbourne totaling 725 lots.
- 225 lots at Fraser Rise. $136,000/lot. 225 lots would sell out within 1 year. Nothing to boast about.

- 500 lots in Fieldstone. Conditional on achieving approvals. Fieldstone launch in FY24 or FY25... 3-4 years away - therefore not providing earnings until 4-5 years. 500 lots would sell out within 2.5 years.

Realistically there is 3.5 years of earnings - not the 8 years quoted. The 8 years is based on acquiring the sites to last settlements with a BIG gap in the middle with no earnings while waiting for approvals for fieldstone.

Another smoke and mirror release. I wish they would provide a timeline with each acquisition to hold the company accountable rather than loose wording in an announcement. AIMO

P.S - the market hasnt really appreciated the earning uplift nor anything announcement in the last 6 months... still trading low.

Newbie