EML 1.40% 90.8¢ eml payments limited

Ann: Central Bank of Ireland Update, page-84

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    Whether or not they keep their license matters naught. PFS is a dumpster. The previous owners were so eager to sell they knocked 50% off. The regulatory blind spot the business took advantage of has been closed. The CBI didn't change it's mind overnight, the EU issued a directive in 2018 regarding pre-paid cards and money laundering. That EML didn't pick up on that, or did and didn't think it material, during DD speaks volumes about their process. Is the market going to pay a growth multiple for a growth by acquisition business that just dropped the ball so epically?
 
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