Ann: Completion of Tranche 2 Placement, page-12

I thought this was promising from the recent Chairman’s address:

Carly is at the forefront of building the car subscription industry in Australia. It is recognised by manufacturers, dealers and other industry participants as the leader in car subscription.

Whilst the last 12 months have been difficult for the entire industry, it has been pleasing to see significant active engagement and interest in car subscription, and specifically people wanting to discuss opportunities to work with Carly over the coming period as the industry begins to normalise.

The good news is that this strategy is enabling strong growth, with active subscribers having increased by over 25% over the last eight weeks.

_____

I don’t think the placement would have been done at a premium unless prospects were solid. The business is being valued at almost nothing right now, I think it’s worth a shot at these levels.