Ann: FY23 Interim Results Presentation, page-7

This is a long term hold and would likely result in patient shareholders doing very well in the medium to long term, whilst collecting some (not ideal for the short term) reduced dividends along the way (such policy being known since last Aug). 

Once all the deferred considerations are paid off in about 2-3 years, shareholders would likely resume getting generous dividends from earnings that should be stronger than today. Payout ratio is currently about 20-25% for dividends until these payments are made, with some upside for contingent earnings. So you can work out how dividends will likely be when cashflow is not needed for deferred consideration etc.

The share price is attractive at these levels given the company's valuation. The strategic investments are now being consolidated and integrated into the company for its future growth. Also noting our FUM is less correlated to market conditions now.

Directors have holdings in the company including Sean McGould with over 8% interest in the company.

Strong buy rating overall by analysts, with target price ranging from $1.47 to $2.20 - implying a margin of safety.