Hi Mars,
I thought the annual revenues they acquired were way less than you posted above in terms of those acquisitions?
Is there a particular ASX release you are getting this from , or in the Annual Report somewhere? Maybe I have looked it up wrong I just did a quick check back on the acquisition announcements and didn't see the revenues acquired of this magnitude?
As to management admitting defeat, I see it maybe defeat in the sense they can't find small bolt on acquisitions at good prices anymore after waiting a long time, so probably makes sense to let shareholders use the franking credits asap.
My disclosure is this is only a very small position now for me as I didn't average down (tried to buy around 5 cents in June but couldn't). Whilst I still hold it is going to get smaller after the div so I haven't been studying up too much on this of late.
Must admit I am a bit surprised to see the shares this high today although it is a small volume stock.
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