This is convincing...."Mr Abercrombie argued the terms of the...

This is convincing....

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Mr Abercrombie argued the terms of the sale are skewed too far in Latitude’s favour.

“This transaction is expected to deliver 22 per cent of Latitude’s financial year 2023 earnings of $355 million, but Humm shareholders are only offered 13 per cent in the combined group,” Mr Abercrombie said.

“As part of the deal, Latitude is getting $106 million of our own cash on our balance sheet – money that, as a shareholder, you already have an interest in prior to the sale! However, Humm shareholders will only receive a paltry $35 million in cash or 7¢ a share, with the rest of the purchase price being paid in Latitude shares. How is this fair?”

MY VOTE IS "NO"