$5.85 undervalues the company, its share price has been as high...

$5.85 undervalues the company, its share price has been as high as $7.65 and was above $5 just last year.
STG are taking advantage of short-term share price weakness and the short sightedness of markets.


In August 2022 the share price was $5.15 and the company announced ZERO new large or medium contracts. There comments were "one-off, project-type revenues were down vs FY21 (down 45% to 8% of total revenue). This was mainly due to customers sitting on the sidelines in the reduced travel environment. Each year we rely on winning 1-2 ‘large’ (i.e., ~$1m in one-off revenue) projects (in both Australasia and Europe) and have achieved this for many years in succession. We consider FY22 to be an aberration and are expecting (and seeing) signs of a market pick-up going into FY23."

Revenue was $32.4m for FY22.


NOW In August 2023 the share price was $4.05 and the company announced that they'd successfully won 2 large contracts, 4-5 medium contracts and one pending significant new European-based account.

Revenue was $44.952m for FY23 up 39%.

This level of contract win is absolutely unprecedented in their history, you can go back and read every annual report not even close.

It will lead to elevated revenue growth in FY24, as EOL is mostly a recurring revenue model this will set a new higher revenue base for the business.


So Energy One Ltd's share price is down, revenue is up, contract wins are signifficantly up and suddenly they get a low ball offer?

When all the hard work and investment (pain now for gain later) exercise were about to begin paying off?



I am absolutely uninterested in having this company stolen from us.

Investors have the power to vote against this if the board let it get to that.

I would encourage investors to make their position known to the board.



Furthermore Vaughan Busby who owns 14.2% of the company and is on the board does not intend to vote for the scheme. He is very aligned with investors given his skin in the game.

We have spoken to other investors who share our view.