Also, I think that the current report on the financial year...

Also, I think that the current report on the financial year completed is the first time we have actually been able to get an inkling of how this company has been financially performing. Previously, the ASX listed company FND had only a 25% share of the Indian business (essentially a private company) and very limited transparency of the Indian operations.

It is my understanding that going forward, a white label ATM Licence (that we can assume has been applied for), if successful, would dramatically reduce the dependence and risk on the few major clients. As if the banking client opted to not renew the FND contract …. FND could substitute their own white label ATM’s in place of the performing ATM’s. FND are already operating these machines so are well aware of their respective performance.

Another consideration , which I am currently unsure of, is what percentage of an Indian ATM white licence are FND ( an ASX listed company) entitled to hold. Any excess may require a partial sell down of the Indian business and could these result in additional and/or excess funds in FND’s bank account which may be distributed to shareholders. (One can only hope!)

Alternatively, would a dual listing on the Indian exchange alleviate this possible requirement. Comments welcome here.

i believe a major re-rate is in order and have positioned myself accordingly.

As always DYOR and good luck.

Cheers Anton