Ann: G8 Education Limited Completes Note Issue , page-3

re: Ann: G8 Education Limited Completes Note ... It always surprises me how all these negative posters appear during correction/consolidation phases and equally how quick they disappear afterward. That said technically we need to push out of the congestion area around $4.30-$4.40 and make higher highs and higher lows before we can say the recent pullback is over.

I think a lot of people are also waiting to see the EBIT multiple GEM pays post-Stirling. I'm happy that management payed 5.79x EBIT for Stirling as it took a significant competitor out of the market and I'm willing to give them the benefit of the doubt that they will return to their 4x payout. There was also a relatively small acquisition post-Stirling about a month ago for 7 centres at 4x EBIT which is encouraging indeed.