Yep agree I've had similar thoughts. Looking at their strategy it looks to be scaling out number of clients across top and mid tier companies. Given this is niche software, there's very few competitors, and the growing push on ESG compliance, this seems reasonable. They should get flow on from large clients to smaller. Given cash position they'll probably look to aquire again in the future also.
Ann: K2F Appendix 4C - Quarterly Cash Flow Report, page-7
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