Ann: Preliminary Final Report, page-2

Things that I took note of :-

1) It was mentioned : The total dividend FY2017 is 4.50 cents per share which is the same as for FY2016 even though the number of shares has increased by 175%.

But when I referred to the 'Letter to Eligible Shareholders' published on 24.4.17, under 'Capital Raising', chg due to Transaction for the total securities on issue = 160%, not 174% as mentioned in the Prelim Final Report. Why the difference ?

2) It was mentioned : The Board expects full year dividends for FY2018 to exceed 7.0 cents per share based upon current forecasts & market conditions.

In the Annual Report, under Slide 17 of 21, the Market Outlook Report does not really tell a very good story on the current (and future) mkt conditions. Hence, that 7 cents cps may drop.

3) In the calculations for the three different EPS' under pg 9 of 12, the number of shares used for 30 June 2017 is 32,696,665 units. This does not tally with the earlier CR document which said after the transaction, the number of shares on issue would be 76,851,493 units. It's a very big difference there, what happened ?

What's the meaning of the Earn-Outs in 2020 and the payment ? These things added in a lot more of shares into an already huge share base,...

Saw a few other details that were not too consistent with the earlier CR document too, but I'd just put down the above here for us to discuss,....

The Spread for this counter is huge, the BUY queue is at 60c BUT the Sell queue goes right up to 67c. Anybody knows why is this happening ? I'm keen on this ctr after having red the reports this evening. The MVS acquisition is impressive,...

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