Ann: Change in substantial holding, page-2

feels like a reverse takeover with Guild Group getting ~20% of MDR at its lowest price in years

on the flip side, at least the ANZ operations are EBITDA positive, and they have enough money for the Syneos earn out and growth in the US which seems to be the business everyone is hoping will deliver the goods (arguably even if the ANZ was delivering 20m in revenues and EBITDA of 2m, the business should be worth 1/4 of the market value.......the valuation hinges on the US doing well so hopefully this gives them a steady profitable base in ANZ to then fund and scale the US business)