This is good news, share price up 50% as I type.
The Australian business has always been loss making especially since the litigation holding back enrolments. The International business on the other hand is profit making or at least was till covid.
I presume they'll no longer go thru with the appeal case, as after this settles Sites Australian educational facilities will operate under Verbrec's RTO so Site no longer needs its own RTO.
This will also give them cash, so the Clark sale will not be under duress.
Ann: Asset Sale Agreement, page-3
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