Ann: Peppermint acquires exciting AI Business, page-13

XPN have stated that the divestment will result in revenue and expenses reducing by approximately 15%.

Their revenue for FY23 was $15.07 million so it appears PIL will be taking over about $2.26 million of that income stream. That compares quite favourably to PIL's claim that monthly operating costs will be $160,000 per month ($1.92 million per annum). So the XPN division that is being acquired appears to be in operating surplus by about $340K per annum.

Offsetting that, however, will be higher corporate costs (ie audit, compliance etc) due to having a UK subsidiary - assuming it cannot be relocated.

XPN expenses for FY23, including depreciation but excluding one-off restructuring costs, were about $18.42 million. So, according to them, the 15% reduction in expenses for XPN will amount to about $2.81 million. PIL will be taking over all but $890K of that as operating costs (ie $2.81 million - $1.92 million).

That $890K will probably be comprised of corporate costs saved by XPN as a result of the divestment. Whether PIL incurs extra non-operating corporate costs of that magnitude is yet to be seen.