yes I have been poring over the last couple of years trying to work it out. Seisma appears to have deferred of 2.7 million and Artisan about 1/2 million, but these could be higher depending on current performance and earn outs. There appears more than enough to cover it, plus make significant inroads on net debt. If they pay off ANZ then the other facility should mean they no longer have problems with working capital for organic growth.
was a bit sorry to see Norths go - it had built up quite nicely, but if they end up with a really safe balance sheet and can work the rest of the business it could be a good 2020.
they could even reinstate dividends at some point?
Ann: PSC & Ltd Sale of NTH Consulting Pty Ltd and Completion of S, page-4
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