In my first post, of the purchase price of $28.3 million, I...

In my first post, of the purchase price of $28.3 million, I ought have said that the HWB founders will take $3m in scrip.

Page 17 'transaction overview' explains this.

$4m is the 'earnout' subject to HWB's performance in FY 22 with PTL vaguely stating that the vendors are 'open' to 'taking a component in scrip at the time', but nowhere is a percentage specified.

So let's say with the latter, the performance goal was reached, and the vendors took $1m in scrip.

That would mean $4m of $28.3m is in PTL shares, or 14.13 per cent of the total consideration. I've no factual basis (yet) for stating the '$1m addition': it could be more, or might be nothing as it's 'subject to agreement at the time'.

Hmmm.