Hi Greg,Outside of the presentation, a few key points was...

Hi Greg,

Outside of the presentation, a few key points was noticeable on the call being:-

- Another 2 parties are engaged in the bidding process with PAC, with bids are expected to be received by mid September.
- VPC has a new fund about to raise capital for ABC02 with the aim of ~US$2B.
- VPC & Pennybacker will do the heavy lifting in raising the $2b - $5B in FUM growth.
- When they bought VPC in 2018, the purchase price negotiated didn't allow for profits/management fees on some of the existing funds. Now 5 years later all new funds raised will be generating good fees, hence FY24+ & beyond will be good profit earner for PAC.
- The run-off in ROC FUM was low earning, with their new deals ROC doing being private equity & private capital earning significantly higher revenues.
- New acquisition expected to be in the range of US$20m- US$30m, but payable in tranches which gives them scope to cash fund / drawn down on the existing bank (US$20m currently undrawn with Soul Patts).
- They are looking at managing external money and have interested parties ready to commit capital, but has been placed on hold until the sale process is resolved.